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Kensington Mortgage Arrears & Claim back

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I've had a quick scan through some posts and come to the conclusion that Kensington are the pond life of the mortgage biz.

 

Anyway, I'm two months in arrears not had any contact with these animals yet, but the good news is a friend has offered to buy my house and it will complete in two months.

 

So first question is will they repo in 4 months?

 

What do I tell these barstools so that the sale goes through?

 

Do I offer token payments to slow there repo process down.

 

what is the governments new position on stopping mortgage companies repo at the first instance.

 

What can I claim back because they are probably adding charges as I speak.

 

I know I need to send a SAR also requesting the underwriting sheet but do I need to refenrence the kensington victory in my request offer.

 

Thanks for all advice and help.


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Guest Old_andrew2018

BUMPING your thread

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How long have you had your mortgage for? They have a habit of wacking on a massive ERC on top so you walk away owing a fortune or are just trapped

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No longer have mortgage product just stuck on there SVR. So no chance of ERC.

 

I've heard some real horror stories repo after just one misssed payment can they still do that? I thought govern had put a stop to first option of repo


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My mortgage is with Kensington now because the original lender moved it after a fewmonths don't aske me why but the Origal mortgage lender Money Partners LTD

 

 

However, on the paper work if I have a complaint I have to write to APS Group?????

APS charged me £2500

 

There is also something about Money Partners Ltd will pay APS Mort. LTD £660, something about a mortgage intermediary which I imagine also came out of my pocket.

 

I have all the paperwork for this but is it right.

 

My god do they do this to confuse people?

 

Either way thats...£3100 just for taking a mortgage out, is there anyway I can re-coup any of this. Three grand for a fecking mortgage talk about rip off.


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How long have you had your mortgage for? They have a habit of wacking on a massive ERC on top so you walk away owing a fortune or are just trapped

 

No longer have mortgage product just stuck on there SVR. So no chance of ERC.

 

I've heard some real horror stories repo after just one misssed payment can they still do that? I thought govern had put a stop to first option of repo

 

I know this is old but really, you have never spoken to them but you are already being negative and defensive!

 

They will never repo after 1 month and it is unlikely at 4 unless you refuse to talk to them. They may make you jump through hoops and it might be frustrating but if you can prove there is a 99.9% chance you can sell the property within a reasonable time frame you would have no problems, assuming the sale price is market level and sufficient to cover the loan.

 

Regards ERC it shouldn't be a surprise! It's in the KFI its in the offer and as Kensington lent through brokers it must have been explained to you.

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ahhhh....a Kensington employee if i'm not mistaken....welcome;)

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ahhhh....a Kensington employee if i'm not mistaken....welcome;)

 

And possibly a soon to be very busy Kensington employee if they are one of the five under investigation by the fsa :D

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ahhhh....a Kensington employee if i'm not mistaken....welcome;)

 

You are mistaken :) Far from a Kensington employee, my comments were in no way directed in favour of Kensington. Regardless of who you have a mortgage with you will have a far better ride if you communicate with your lender regards your situation and don't go in all guns blazing. Likewise if your mortgage was taken out after 2004 you will have been aware of the ERC at application and offer, if before 2004 it will be on your offer.

 

The ironic thing is if you play the game and work with your lender in the current climate and with exposure on lenders actions being watched by the FSA and the media very few lenders will go for eviction at the moment and even if they do if you have been in contact and have some form of proposal very few courts will grant an immediate repossession.

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Bollocks

 

I contacted my mortgage provider with a plan and they just told me to pay up or else...


If my comments have been useful please click the scales and let me know.

 

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And possibly a soon to be very busy Kensington employee if they are one of the five under investigation by the fsa :D

 

 

Does anyone have the link for this story could'nt happen to a nicer set of barstools?

 

Still no help on getting massive ERC from this ****, any advice????


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Here is what I posted about Swift I have main mortgage with Kensington and secured loan with Swift!!!!!!!!!!

 

FSA were making an announcement last week??

 

icon1.gif Re: Swift Advances. Secured Loan Charges reclaim

Daily Express Monday25/01/2010 HOME OWNERS WIN MORTGAGE REFUND

Near the bottom of the article

 

The FSA is set to release a report later this week and five more mortgage lenders are in line for fines.

Cerris Tavinor, an FSA spokeswoman, said: “We completed our investigation into Gmac and published the results of that case.

“We have made the point publicly that we have referred other lenders to enforcement, so other work is carrying on.”

 

HAVE SWIFT FINALLY BEEN CAUGHT? :grin::grin:

 

 

Express.co.uk - Home of the Daily and Sunday Express | UK News :: Home owners win mortgage refund

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Does anyone have the link for this story could'nt happen to a nicer set of barstools?

 

Still no help on getting massive ERC from this ****, any advice????

 

You are unlikely to get your ERC back you agreed to it. Unless you can prove it was unfair, though I believe the FSA may be looking at the fairness of charging an ERC on repossession cases. The ERC is part of an agreement of what happens if you terminate in a particular time period.

 

Ignore the actual money amount and concentrate on the % fee (I'm assuming it was a % of x for the ERC) with regards to whether that was fair also bearing in mind the FSA comments regards fees look at what arrears fees have been added to your balance and therefore have had interest charged on them and also been included in the ERC calculation.

 

Otherwise if Kensington are one of the 5 just sit back and wait looking at the statement on the FSA website GMAC are having to be proactive in finding everyone they owe money to (I would hope the FSA are auditing this).

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Hi

 

How quickly a lender takes to start possesion depends on what type of mortgage you have. Residential mortgages have far more protection than buy to lets which are unregulated. With unregulated mortgages the lender can (& will) take control of the property with NO arrears.

There are 1000's of buy to let landlords out there at the moment losing their properties & going bankrupt because the government, who bailed out the lenders, is now putting pressure on the lenders to pay back the money. It doesn't seem to matter that properties are being sold well under value, just as long as some money goes back into the treasurary.

This is such a short sighted attitude, if the landlords were allowed to continue managing the properties themselves (which they will do properly as it is their business) & then sell when the market comes back the government will get its money back. As it is now, the properties are being left empty for up to 2 years by LPA receivers, then sold below market value, the landlord (having lost his/hers business) cannot afford to pay the shortfall, they are made bankrupt & they then have to claim benefits.

I may be wrong but this does not make good economic sense to me.

Sorry for the rant, but this situation makes my blood boil.

Mungos mum

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I’ve just sold my house and spoken to Kensington mortgages about a redemption figure and discover massive fees and I’m only on a variable rate.

Fees include one months interest which can be waived but the person I spoke to would not tell me how.

A couple of late payment fees and missed payment fees.

£150 fee for releaseing the mortgage of something, is this right?

I thought ERC could not be above a certain amount.

I was on a variable rate and not tied to any mortgage product?

Where is there a draft letter to ask for my money back?

thx


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Just been on Cretins Today and saw this.

 

Credit Today online

 

Hahahahahahaahahhaahaha

 

I was just about to stick my SAR in the post what excellent timing


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Credit Today is good for something then :rolleyes:

 

Lets hope that getting some balls is catching and other regulatory bodies use their teeth :D (Wishful thinking I know, but I can dream...)


"To love unconditionally is the greatest gift, laughter is a close second" .To give your time to help others after being helped here is the best way to show your appreciation to your fellow CAG members.

 

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"Kensington qualified for a 30 per cent discount under the FSA’s settlement discount scheme. Without the discount the fine would have been £1.75m."

 

Haven't we heard this before? "Great offer! Pay your debt within 30 days and we'll halve it! Free TV!"

 

What is the point of a fine if they only pay part of it?


“The industry is rotten to the core, whether it is in-house recovery and collection, or where agents are used, or where the debt has been sold.” Andrew Mackinley MP, House of Commons, 22 April 2009

 

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I'm in shock! First this and then the ICO actually upholding a complaint! What is happening :confused:


"To love unconditionally is the greatest gift, laughter is a close second" .To give your time to help others after being helped here is the best way to show your appreciation to your fellow CAG members.

 

Please note that this advice is given informally, without liability and without prejudice. Seek the advice of an insured qualified professional if you have any doubts. All my knowledge has been gained here, for which I'm very grateful. I'm a Journalist, not a law professional.

 

If you do PM, make sure to include a link to your thread as I don't give out advice in private ;)

BB 13 - DCAs/banks and solicitors 0.

 

I get a fresh start to get on with learning to live with severe disabilities when they could have had something if they'd been understanding...

 

<--- If you feel I've helped, please twinkle my star :)

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Calm down dear, it's only a fine!


“The industry is rotten to the core, whether it is in-house recovery and collection, or where agents are used, or where the debt has been sold.” Andrew Mackinley MP, House of Commons, 22 April 2009

 

If a Cagger helps you, click their star. Better still, make a donation however small, so that CAG can continue to help others.

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And possibly a soon to be very busy Kensington employee if they are one of the five under investigation by the fsa :D

 

Interesting. They have been fined over a million for behaviour dating back to 2008 and earned some sort of a discount so they didn't have to pay the full amount. And lo and behold, I represented a client at court today who has been treated so shabbily by Kensington that it is perhaps the worst example of immoral, shark like behaviour in a lender that I have ever seen. And I've been doing consumer and housing law for twenty years. My client offered them a lump sum off the arrears and then instalment plus £50 and the lump sum was pretty much cast iron and proven, since the money was coming from the council via the Repossession Prevention Scheme and they had spent a week confirming this to Kensington. Still refused. Had to do an N244 on Friday and attend a hearing earlier today with the bailiffs scheduled to carry out the evition tomorrow. They refused client's last offer two minutes before the hearing. We got the thing suspended anyway though, without having to offer a lump sum of any description and the court has given our client eight years to settle the arrears.

 

Kensington are evil and sociopathiic and it's a damn good job they're also stupid.

 

Utter, utter ****. The FSA will be hearing of this ... AGAIN.

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I've received a letter from Kensington regarding Monthly Arrears Fee and Returned direct debit Fees, basically they are refusing to cough up.

 

At £50 a time I can see why, the true cost to them must be less than a fiver.

 

Anyway, the only option for me is FOS has anyone had any success with this option?

 

Are there any threads relating to kensington fos unfair charges? (I can't find any)

 

Has anyone taken on Kensington and won?

 

Thanks all


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