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SPML - Capstone, Advice Please


shazzap
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I want to change my payment date from the 1st of the month to the 12th of the month. I have been told by SPML that if I do this then I will be charged for late payments. I am sure that I read somewhere that you can change your payment dates provided it is within the same month and that they cannot charge for late payments.

 

Please can anyone give me advice

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I think you should remind them of the recommendations contained within the Civil Justice Council's Mortgage Protocols :-

 

5.4 The lender should consider a reasonable request from the borrower to change the date of regular payment (within the same payment period) or the method by which payment is made. The lender should either agree to such a request or, where it refuses such a request, it should, within a reasonable period of time, give the borrower a written explanation of its reasons for the refusal.

 

At possession hearings judges have been known to order the lender to change the payment date to assist the borrower in accordance with these protocols.

 

I know GMAC agree to requests to change payment date provided it is within the same month and I know of several instances where they have allowed a change from 1st of the month to last day of the month.

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My advice is based on my opinion and experience only. It is not to be taken as legal advice - if you are unsure you should seek professional help.

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I want to change my payment date from the 1st of the month to the 12th of the month. I have been told by SPML that if I do this then I will be charged for late payments. I am sure that I read somewhere that you can change your payment dates provided it is within the same month and that they cannot charge for late payments.

 

Please can anyone give me advice

 

Managed to get my payment date changed from the first of the month, but found out a few weeks ago that the payment is still due on the first and until I make that months payment I am in arrears and no doubt charged arrears interest, going to request a SAR and find out the truth, or I may ring them and ask whatever will post result on here.

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