Important Announcement For Capstone Mortgage Services Victims

[dimples1000]

Hi I have never posted a thread here before but now I am at my wits end so here goes - in November 2004 my partner and I took out a secured loan with SPPL for 40.000 this included 8.000 PPI unfortunately he then died in April 2008 and the insurance paid out the full amount of the loan to Capstone. 1 year later I started to receive threatening letters from Capstone saying that I still owed them 5.000 and because the arrears had accrued so much they were going for reposession of my house. Anyway I got this put off but they tried it a further 3 times. Now I am at the stage 2 years down the line where they have wiped off all the litigation fees but still say that I owe them the original amount of 5.000 and that they will not clear my credit file until I pay them. Over that 4 year period they have had 65.000 for an original loan of 40.000 (including the PPI of 8.000) if I pay them the 5.000 that means they will have had 70.000 in total. Surely this cannot be right?

[enoughisenough]

They are ****.

 

DO NOT PAY THEM ANYTHING.

 

Notify Land Registry that you want the DEEDS AND TITLE AMENDED with their registered charge removed, as it was satisfied in full & Complain to the Financial Ombudsman Service. Which provider was it?

[dimples1000]

Sorry I have been offline for a few hours - what do you mean by provider? I have looked at their interest charges and cannot figure out whether they have taken the full interest on the loan for the full 20 years even though they were paid off in full after 4 years. They are saying that I should contact the Insurance provider as they did not pay up for 7 months and this caused the arrears. I thought MMS was their Insurer as the original PPI came from SPPL. I can't sell my house or move on at the moment as I am blacklisted everywhere. Any advise would be gratefully appreciated.

[iconoclash]

HI - this sounds horrendous - have you got any paperwork from when the loan was paid off - I would have expected to see the figures from someone? There should have been a statement of some sort and this will show land registry and the credit ref agencies that Capstone have no claim against you - apart from this, the delay in the insurers paying out is not to be held against you and the further fees should not have been added, in my opinion. I am not an expert but you are right to think that there is something wrong with all of this for sure - I would want to know how 7 months adds up to five thousand for a start. There are some very knowledgeable people in here and you will be get help with this. Good Luck. PS. Dont pay them - you can say you are taking legal advice for the time being. There's probably a template letter on here you could use in the first instance.

 

others?

[dimples1000]

I am waiting on a letter from them today which they say will explain everything - but it will still insist that I pay the 5.000. Unfortunately as I have a mortgage to pay as well I am not going to be able to pay this. They say that the redemption fee I paid was only for partial settlement although it does not state this on the statement. They agree that they were at fault for not contacting me for a year but basically that is hard luck as I still owe the money. Will keep you posted. Any help would be great!

[iconoclash]

Hi - redemption fees i think are only payable as a consequence of deciding to settle the contract early and it sounds like the settlement came about as a consequence of the sad death and subsequent insurance claim - is that right? in which case i cannot see it being a PARTIAL settlement either. Can you post up the letter when it comes?

[dimples1000]

Hi I have been at work today but as you can probably guess I have come home and their is no letter from them but as soon as it comes I will post it.

[enoughisenough]

Shouldn't think any judge is going to sanction this...

 

Let's see this as it unfolds...good luck.

[margaret williams]

Legal Aid is available for qualifying people. CAB are the people to go and find out about this. I was about to see a solicitor but hubby managed to do some 9vertinm (to pay the mortgage) which took us over the limit! Hopefully next month will see me starting a case against SPML et al

[stellonie]

Finally I found other people who hate my mortgage company as much as I do. I have had nothing but problems with SMPL (capstone) since I was advised to take out this mortgage. We have only ever fallen behind with 1 payment since we took the mortgage out in 2006. we caught up and paid that off then have had a clean sheet until 1st december 2007. I noticed that our payment hadn't come out and so i called them. They told me that the direct debit had been paid. I got concerned again cos i noticed the money had not gone so i called them again 3 days later, they again told me that the payment had been made. We also recieved out Quarterly statement saying the payment had been recieved!!

On 22nd January 2008 we recieved a letter saying that we had not payed Decembers payment and that until we paid it they were going to charge us £50 a month !!!!!!!

I called straight away and explained - to cut a long story short, nothing but aggravation nearly caused my marriage to split up, we have now through gritted teeth just finished paying off the 'arrears' we shouldnt have had plus interest !!

I am this week going to see a solicitor to get my money back and hopefully together everyone one can bring this company DOWN

[ZillaK]

Finally I found other people who hate my mortgage company as much as I do. I have had nothing but problems with SMPL (capstone) since I was advised to take out this mortgage.

 

con-artists huh..

[margaret williams]

They are ****.

 

DO NOT PAY THEM ANYTHING.

 

Notify Land Registry that you want the DEEDS AND TITLE AMENDED with their registered charge removed, as it was satisfied in full & Complain to the Financial Ombudsman Service. Which provider was it?

 

Many thanks re Land Registry, we requested our title deeds on line

 

Lender SPML , adress St John's Place HW Bucks HP11 1NL

 

e mail: DeedsAdmin@Capstonertgage services.co.uk

 

Address on Mortgage document 2007

First Floor

Broadgate

London

EC2M 2QS

 

I can see how they have conned people, by burying information in pages and pages of small print. That is how they have managed to change company's without informing mortgae holders.

I ahve sent a reprt to Vince Cable, Lib Dem Shadow Chancellor and he is on Barclays case, Daily Mail Saturday 20th March 2010

 

Thanks

[joby73]

Hi I have a mortgage with pml/capstone i have recieved an eviction notice from them for the 6th time in 4 years due to them losing my payments and taking dd out of the wrong bank after i changed bank details with them back in dec 2009, they still kept applying to the wrong bank. I am now £4000 in arrers with them due to all there court /solitor fees and there managment fees every month, I was just wondering if capstone are actually a morgage company after hearing that they are in the process of liquidation same as preferred i am also being took to court for repo by preferred thought they were bankrupt isnt this illeagal ( optima leagal are there solitors apparantly never heard of them) can someone shed any light on these con artists crapstone or preferred?

[midge61]

Hi joby73

 

Crapstones are the administrators for pml and deal with the day to day stuff like collecting payments and generally ripping you off!

 

You need to post on the repossession board and get the help of ell-en she will guide you through what to do and help with letters etc.

 

If you look through the spml thread you will find lots of info on pml etc but you need to stop the eviction first.

 

Good luck

[margaret williams]

Hi Joby 73

 

I see that you mention this has been going on for 4 years. When was the suspended re possession prder granted? If it was granted befor 20th September 2008, then it is null and void, as SPML were owned by Lehman Bros. Any arrears dating to that period are owed to Lehman Bros administrators, not SPML/Barclays.

 

Barclays bought SPML and thus its mortgages, in other words it bought the debt, minus the arrears. Capstone were also a Lehman Bros holding, bought by Barclays.

 

I wrote to the Chief Executive of Barclays Bank last week, demanding an explanation. In the US, many mortgages were just wiped out when the collapse came. Why not in the UK? Capstone are not a mortgage company, they are service providers, collecting money for Barclays Bank. That is why Barclays is making profits and able to pay out huge bonuses. Robbing the poor to feed the rich.

 

Capstone are behaving in the same way as other debt collecting companies who have purchased toxix debts, they use fear tactics to force people to pay monies. They have no legal standing an are breaking the Consumer Credit Act 1974 (on top of everything else).

 

Why are the FSA not acting on behalf of SPML victims? The whole shebang should be hauled into court, not least because there are people who may have lost their homes because of illegal actions. Judges in this country treat criminals better than the victims of these rogue mortgage companies

[ZillaK]

..as mildly entertaining as it may be.. please pay little attention to the previous post..

[enoughisenough]

Firstly ZillaK

 

I must apologise once again for not giving your PMs their due attention. Rest assured that I am not ignoring you and will be up to speed, but please also recognise that I am swamped at the moment. Your input and opinions are gratefully received.

 

Your comments regarding Margaret Williams' post pasted below are even tempered beyond the call of tolerance. In my book they are diversionary and downright dangerous. MW needs to state her agenda, and if her bona fides are genuine she must recognise that she needs to do a lot more homework before posting such ill informed tripe.

 

Such posturing could cost someone and cost them dearly.

 

I have never seen such poor quality DISINFORMATION distributed on any thread related to Capstone before.

 

A word of advice to all those new to the site is needed.

 

And it needs to be laid out clearly

 

If Margaret Williams, or anyone else for that matter, PMs you with advice about an impending court case, you don't need to say that it has come from her (or whomsoever it has come from) but you do need to post it on open to ensure that you are getting a full range of opinions. So you can say something like "someone told me or I've heard...".

 

In general private messaging is the least sound way to obtain advice, even that given in sincerity, as it is unverifiable.

 

The errors that could land you with a repo are manifold here. I do not want to make this a mano a mano feud so other caggers of experience and wisdom please step in and tell the newbies why this advice is so wrong and so dangerous. It's not just my opinion.

 

Hi Joby 73

 

I see that you mention this has been going on for 4 years. When was the suspended re possession prder granted? If it was granted befor 20th September 2008, then it is null and void, as SPML were owned by Lehman Bros. Any arrears dating to that period are owed to Lehman Bros administrators, not SPML/Barclays.

 

Barclays bought SPML and thus its mortgages, in other words it bought the debt, minus the arrears. Capstone were also a Lehman Bros holding, bought by Barclays.

 

I wrote to the Chief Executive of Barclays Bank last week, demanding an explanation. In the US, many mortgages were just wiped out when the collapse came. Why not in the UK? Capstone are not a mortgage company, they are service providers, collecting money for Barclays Bank. That is why Barclays is making profits and able to pay out huge bonuses. Robbing the poor to feed the rich.

 

Capstone are behaving in the same way as other debt collecting companies who have purchased toxix debts, they use fear tactics to force people to pay monies. They have no legal standing an are breaking the Consumer Credit Act 1974 (on top of everything else).

 

Why are the FSA not acting on behalf of SPML victims? The whole shebang should be hauled into court, not least because there are people who may have lost their homes because of illegal actions. Judges in this country treat criminals better than the victims of these rogue mortgage companies

[joby73]

midge 61

 

Thanks for the advice i will have a get on 2 the reposession board. Im putting in a stay of execution to put my point across to the judge so hopefully he will see that i have kept to my payments and crapstone are wrong i,ll keep u updated

[enoughisenough]

joby73

 

YOU NEED TO POST HERE IMMEDIATELY.

 

http://www.consumeractiongroup.co.uk/forum/mortgages-secured-loans/170607-spml-london-mortgage-company-291.html

 

SPELL OUT YOUR CIRCUMSTANCES. you may be advised to start your own thread but that is ok as people will be along to help.

 

also take a look at this - lots of advice and background to show that you are not alone.

 

Who are Capstone Mortgage Services & why watch them? Capstonewatch's Blog

[iconoclash]

Hi - very useful post - been looking at the blog and further links too. I need to get back on my other threads as I know I am in the **** with a suspended repo on the house and cant challenge in court cos of the lender expenses clauses - done all that and still paying for it (long story) and really hacked off about getting a **** mortg. as recommended by a **** broker who I then had to pay separately!! what a nightmare it all is. Ok - winge over :)

[joby73]

enoughisenough

 

Thanks for your very helpful links and advice will be on later today as i have 3 kids to run around after just a bit busy at the mo and dont really want the kids picking up on whats going on dont want them to start worrying:mad: once again thank u your help is much appreciated:grin:

[enoughisenough]

That's fine joby73

 

I know what it's like myself...

 

Still, got to stick it to 'em and if we are to go down, we go down fighting.

 

Speak later, no doubt.

[joby73]

enoughisenough,

 

 

I have managed to post on the repossesion board im just hoping ell-en sees it and helps me cos i dont think i stand a chance against them this time with the bull capstone keep coming out with thank you so much for pointing me in the right direction:grin: joby

[enoughisenough]

Cut the pessimistic crap joby. You must believe there's a chance. These eviction notices can be defeated. And there is a track record of doing that here. Keep me posted. Ellen will guide you as to the formalities and there's a couple of sticks of dynamite I like using as well to give the barstewards a fight.

[joby73]

enoughisenough

 

Dynamite that sounds interesting u will have to fill me in on that one as yet Ell-en has not got back to me but i no she is really busy so all help from any 1 is greatly apprieciated