GE Money arrears charges... can i claim??

[Vikingbird]

There's no ongoing arrangement in place(apart from the usual mortgage payments), the arrears were cleared about 3 years ago. However, the resulting charges have just been sitting there since, festering. I don't think any more charges have been added to this. Does anyone know how to go about claiming back these charges? CanI use the same template as the one for claiming back bank charges?

[jansus]

Can the original poster update this thread with how things are going?

 

thanks

[Bluebell10]

Hi everyone been reading this with interest, we too fell into arrears with G.E Mortgage beginning last year 2009 due to payoffs, scariest thing on earth have to say.

 

They were not very helpful at the beginning at all, in fact one lady (ha), was positively abusive and said it was all our fault and get on with it, , they constantly phoned us, sometimes up to 3-4 times a week and on several occasions 2-3 times a day and sent letters.

 

We sent many letters back, with no help or empathy at all, but just as we were ready to give up all hope and house, they changed their minds and offered us a payment plan, with reduced payments for 6 months, this was like heaven sent, gave us breathing space and now thankfully we have more or less caught up, just a couple hundred pounds to pay in arrears.

 

They also stopped the £40.00 charges in Oct 2009, so guess the little guy can sometimes win, probably because of forums like this, (wish knew about you guys before, even just someone to talk too,)

 

Anyway have quite a few previous charges and interest added, so the question is can we reclaim these, or better not to rock the boat now things are slowly going back to some kinda normality.

 

Bluebell10

[bustthematrix]

Bluebell10 and others asking the question the answer is YES you can reclaim.

 

See here

Thousands of homeowners set for big mortgage refunds - Industry in depth - Mortgage Introducer UK

 

and http://www.consumeractiongroup.co.uk/forum/show-post/post-2573521.html and http://www.consumeractiongroup.co.uk/forum/show-post/post-1482245.html

 

The issue is working out what we've been charged (SARN etc) by them unlawfully and then setting about reclaiming it in the best possible manner.

 

GE/IGroup (as well as other mortgage lenders) have several types of mortgage account charges which they levy. For example on the statement for my mortgage which I had with them from 03-07, the following are listed

 

1. direct debit Recall Charge

2. Litigation Referall fee

3. Miscellaneous Repossession Charge

4. Arrears Administration Charge

5. Solicitor Interim legal fees

6. Default Notice Charge

7. Valuation fee

 

I assume these will be the same charges that will show up on others' mortgage statements (those who've been in arrears ) to varying degrees dependant on the account conduct.

 

So how do we establish which of these charges are reclaimable at law and the basis on which they can and should be reclaimed? Also probably need the additional interest you have paid due to the added charges.

 

Lastly, I believe you can also add Statutory Interest on top. I am emboldened in this because GE added it themselves in their early settlement offer to me in response to my complaint for Arrears charges refunds.

 

So then, I believe a robust process would comprise

 

1. Work out the charges

Based on what is lawfully reclaimable

2. Work out the interest you've paid on those charges

Either ask them to do this for you or do it yourself. This interest is

based on the amount and date of the charges paid using the mortgage

loan acount rate at that time. This is vital if you've been whacked with one of GE's hefty high rates!

3. Levy Statutory Interest (SI) on both amounts (1+2)

Add SI for both figures in 1 & 2

4. Ask the lender for all of it back.

Summarise and request.

 

It seems to me points 2-4 are straightforward enough, Where I need help is with more clarity on what can actually be included in 1. and why.

 

Cheers all.|