Harsh Letter received from Kensington *Claim struck out in court*

[stan5131]

NOT SURE IF ANYONE HAS SEEN THE ARTICLE IN EXPRESS TODAY ENTITLED END OF ROAD FOR RIP-OFF HOME-LOAN EXIT CHARGE.

 

States city watchdog is finally taking action against the mortgage lenders who have profiteered from the fees they charge.

 

Really good long article FSA has given them until Feb 28th to put their house in order and stated that they WILL have to pay backpayments to ex customers for over charging admin costs.Again it states that these charges (like the banks) have to be reasonable and in proportion to their actual costs.It states that the watchdog will be seeking justification from the lenders on their costs. The FSA is suggesting a fixed fee.

 

IT SEEMS THAT WE ARE GETTING SOMEWHERE,ANY ADVICE NEEDED THE FSA has asked that customers contact them and to make any complaints to them if the mortgage company hasnt responded.

 

HOPE THIS HELPS.

 

 

This is fantastic news. Thanks

[hulsevictoria]

Jamorgan,

Just keep in mind the post by the Avengers.

Even the Ombudsman is getting involved now. The Judge should rule in your favour and this will be over soon.

How's it going Jamorgan? Any progress?

I'm still waiting for Kensington to reply to my SAR, they only have a few days left before their 40 period is up.

I'm not letting this go.

I'm starting proceedings against a few other companies that owe me money.

[jamorgan]

Hi hulsevictoria,

I'm ok a bit fed up transcript ready now so I shall get that in a day or two so we will see what we have got to go on with that.

Absolutly fab news in the Express, also had a call off my dad to say there was an article in another news paper simular to above and he shall pop it up tonight so I'll post when I have read it.

Get started on the others who owe you money and you may have a fab summer yet to come

M x speak later

[gizmo111]

It is good news in the papers for those who have paid exit fees - but we are claiming ERC's which are totlaly different.

[kennyh]

jamorgan - only a 'bit fed-up'!! You realise that many readers would be at 'wrist slashing' stage. I know things appear to have gone a bit quiet and Zoot's recommendation (urging?) has put something of a dampener on some proceedings BUT there are a lot of folk waiting for definitive instructions to chip into your cause and the judge's suggestion (or stronger) on a possible appeal appears interesting. So DO NOT let the b******s grind you in. Regards and respect.

[mullingarman]

Here here kennyh.

 

Keep the faith jamorgan, you have plenty of support here and It seems from what I've read plenty of people ready to put their money where their mouths are.

[bluelife09]

Jamorgan. Just spent the last two hours reading your thread, I really do feel for you. I am keen to hear how things go for you. You are an inspiration to the rest of us, and I think you have so much 'bottle' to take these sharks on.

 

I am happy to make a donation to help with your costs, should you decide to go to appeal. Good luck!!!

[kennyh]

Hi Anyone,

Re Gizmos post #96 on 7th Jan and Red1s followup on 17 Jan [Don't forget this :

 

I would like to bring your attention to the following statement by The Office of Fair Trading:

 

"A term in a mortgage agreement which requires the borrower to pay more for breaching the contract terms than actual costs and losses caused to the lender by the breach (or a genuine pre-estimate of that) is likely to be regarded as an unfair penalty and to be unenforceable both at common law and (in a consumer mortgage) under the Unfair Terms in Consumer Contracts Regulations. A redemption charge may be regarded as a penalty even if it is expressed as the price for exercising a right rather than a consequence of breaking the agreement."]

Does the OFT carry ANY weight in law? If so aren't judges obliged to take those edicts into account?

[zootscoot]

No. OFT has no law making power. At most it is persuasive as MF5 found out to his cost.

[nevos]

Are you able to reclaim a mortgage redemption penalty?

The Financial Services Authority (FSA), which regulates mortgage lenders and others, has given lenders until 28 February to report back on what action they are taking to address their findings that mortgage redemption fees are disproportionate to the actual costs incurred in redeeming a mortgage.

 

The FSA has also made it clear that lenders should only charge the original exit fee that was notified to the customer when they signed the original contract, took out a further advance, or changed their mortgage product, and not the current published fee.

 

The difference can be quite dramatic. Mortgage redemption fees, which cover the lender’s administration costs, were around £20 or so in the 1980’s, then increased from around £50 in the early 1990’s, to up to £295 today. In essence, the longer you stayed with your previous lender, the better the chances of being eligible for a sizeable refund.

If you have redeemed a mortgage over the past 6 years, it may well be worth checking what you were charged against the original fees specified in your mortgage offer. Apart from the bother involved in finding the paperwork and comparing the fees, the process should be straightforward. Just send a simple request for a refund to your previous lender, backed up with a copy of your original mortgage offer, containing the mortgage redemption fee, with a copy of your mortgage redemption statement, which your solicitor will have provided you.

 

If there’s no mortgage redemption fee quoted in your original offer, it’s reasonable to assume that no charge was payable, so if this applies, claim the full amount of the mortgage redemption fee.

 

Please note that you can’t claim back any early repayment charges arising from repaying a mortgage early, or by redeeming your mortgage in the middle of a fixed interest rate term. These charges still hold good. It’s only the mortgage administration fees that the FSA has challenged.

[kennyh]

Many thanks Zoot; stopped me jumping in with both feet again.

Did you receive my PM?

[jamorgan]

Hi all,

Ive recieved a letter from the court this morning

To seek permission from his honour, it is unnecesary for you to complete an Appellant's Notice at this stage but you do need to set out the grounds on which you wish to appeal. If you file grounds the Judge will consider the application as an application made out of time. Alternativley, you can seek permission to appeal from the court above, i.e. The High Court. You will need to complete aelant's Notice to seek permission from the High Court and a copy is enclosed. You will need to file that notice here with the appropriate fee.

 

Any thoughts anybody

x

[zootscoot]

Hi Jamorgan,

 

Still no transript?

 

Until we get that we can not determine the grounds for appeal or if its worth appealing. Is there a time limit?

 

Best wishes

 

Zoot

[lellypea]

Can't believe youve both just posted!! Been looking on thread for news of the transcript for so long....I suddenly thought......Morgy must have started a new thread somewhere.....so bin trawling round....came back.....an here you are!!! lol

 

Still no flipping transcript tho Morgy!!! How are you holding up.

 

I've been droning on about this for ages....but come on hun....get a P O Box or paypal a/c set up for all those desperate like me to give you some lootl......no strings attached. Maroonfox - bless him - has bravely put his paypal a/c on his thread - I know it must feel difficult to accept help - but I'm sick of worryin bout u girl....we can all sleep better knowing we've given a hand. We all OWE YOU anyway!!

 

If at the end of the day you don't need it....then....of all people YOU HAE earned the right and the trust to donate it wisely and as you see fit.

Come on now....my piggy bank with your name on it is groaning to be emptied!!!!..........groan.....groan.......empty meeeee pleeeeaaase.

 

Your in all our thoughts....stay strong.... hope the trans. arrives soon so the legal boffins on site can pool their wisdom.

 

hugs

 

Lellypea

[jamorgan]

Hi Lellypea, Your lovley you made me laugh then

I need help alright! (so my husband says)

No bloody transcript, awaiting the court to approve it.Bloody rediculous

I'm gonna ring the court tommorrow and find out whats happening and fill you all in when I do, any day now I sould imagine.

 

Hi Zoot are you ok hun?

No time limit on the letter which is a good thing, I think

x

[tbell]

Hiya jamorgan

 

Hang on in there!!!

 

I'm def good for a donation for your appeal

 

tbellx;)

[zootscoot]

Hi Jamorgan,

 

I have received your transcript. Could you pm me your e-mail address.

 

All the best

 

Zoot

[biffa1965]

wheres the transcript ???

[zootscoot]

Hi Morgy,

 

Have you seen the transcript yet?

 

Are you still wanting to appeal?

 

Best wishes

 

Zoot

[Bona]

Hi Morgy

 

I assume you have your transcript, just one word of advice be wary of the High Court they officials are great the Judges are great but it seems to be a licence to print money for the solictors and Barrister, I dont know where you are so which High court registery you would be in If your Judge allows your appeal it will be in the county court my 50pounds is in the pay pal account awaiting your decision

Bona

[jamorgan]

Hi guys,

Sorry Iv'e been out of touch for a couple of days HALF TERM bloody nightmare with three kids roll on next week!

 

Zoot just posted you my e-mail address hun

Also recieved a letter from the solicitors today,

The court had informed them that I was awaiting the transcript and could they possibley have a copy of it and they would pay for any photocopying that had to be done

Morgy x

[Bona]

Ask them to pay the transcript fee or half of it , If they want it they can get a transcript for what you paid and wait that lenght of time , if you give it to them make sure they and the court its out of the goodness of your heart I had half term last week what a relife No kids

 

be in touch

Bona

[jamorgan]

Bona I shall do that hun, cheeky buggers

Just recieved the transcript and will have a look over that and relive the nightmare of that day

I am really in a pickle about the paypal thing and donations that people have supportedly said they would contribute but

Do I set an account up and ask for help or not ??

I know I need the help and it is hard to ask for people's help when they have very little money themselves to give

What shall I do ?

Whats people's thoughts ?

shall I wait and see if we can get the fighting fund off the ground

Help!

X

Anybody wants to see the transcript let me knowand I shall e-mail

I think this is ok to do. Is it?

x

[gizmo111]

Bona I shall do that hun, cheeky buggers

 

Yes - you make sure you do

 

Just recieved the transcript and will have a look over that and relive the nightmare of that day

 

The end result was not good , but just think about how much courage it took to be there - you did really well and I for one am proud to be here fighting with you

 

I am really in a pickle about the paypal thing and donations that people have supportedly said they would contribute but

Do I set an account up and ask for help or not ??

I know I need the help and it is hard to ask for people's help when they have very little money themselves to give

What shall I do ?

Whats people's thoughts ?

 

It could have been anyone of us Morgy - I have donated to Maroon fox and I will to you. I couldn't do his by paypal (computer illitrate but I have sent chq today ). People have offered and want to help you - don't be too proud to accept and end up carrying this outrageous bill by yourself.

 

shall I wait and see if we can get the fighting fund off the ground

Help!

X

 

As I understand it the fighting fund is aimed at a class action - we need to help with individuals costs before that can be explored and acted on or put to bed. You need help regardless of this decision. Obviously this is an individual choice and not something recommended or endorsed by CAG.

 

Anybody wants to see the transcript let me knowand I shall e-mail

I think this is ok to do. Is it?

 

I see absolutely no reason why this is not ok, and thankyou for sharing it with us.

[Bona]

Set up a pay pal account post details and leave it to people to do what they want. even if you appeal your not sure of sucsess and it will cost you let those who want help

Bona