Charges on Unregulated Mortgage

[ims21]

Hi

 

I have an unregulated mortgage with GE and having been through a bit of a tough time there are arrears on the account. This is all being sorted and things are getting better.

 

However, there ar charges on the account such as admin fees and failed direct debit fees and the latest statement shows that they have a section called "Payments against these charges" of about £500.

 

Questions are

 

1. Can I reclaim these admin fees etc on an unregulated mortgage?

 

2. Should the payments I make go towards the arrears first. Are they artificially inflating the arrears by allocating payments to the charges rather than the arrears?

 

Thanks in advance for your help.

 

ims

[dx100uk]

yes you can reclaim all mortgage charges

 

it's on our homepage and in the cagmag back issues

 

when the charges are reclaim, what you are paying and where it is going will ersolve itself

 

dx

[ims21]

Thanks dx

 

Came to my rescue again

 

what a learning curve this is

 

ims

[steven4064]

I think you need to be able to show that either the charegs are unfair under the various unfair relationship regulations or that they are contract penalties - ie that they are charged in direct consequence of a breach of a term in your mortgage agreement and that they are more than the company's actual losses occasionaed by that breach of the agreement.

[ims21]

Hi there

 

Again, thks to dx and steven

 

Having done some more research I believe I can reclaim these charges (£40 admins etc etc) BUT at this point in time, and due to the poor relationship with the lender at the moment (they went for repo which we managed to stop), Mrs ims is reluctant to rock the boat as she feels that we may jeopardise the relationship with them further. So we are going to bide our time for a while on the claim.

 

On the latest statement, there are some figs at the bottom. Four individual figures. Arrears £x, Additional Fees and Charges £y, Further Interest £z. Additional fees and further interest have not been added into the arrears figure. Then there is a line that says "Payments made against these fees and charges" £A.

 

So it apperas that some of the payments I have been making have been allocated against charges rather than against the arrears. I would have thought that the lender had to put any payment against arrears first, otherwise they are "artificially" inflating the arrears figure.

 

By chance, the amount so alloated is about 1 months mortgage repayment.

 

The question I have is, can I request/insist that the payments they have allocated against charges be re-allocated against the arrears and treated as a monthly instalment off the arrears. I realise I will have to add a bit to the figure to make up a complete instalment.

 

It just seems to me that they should allocate all payments to arrears first so that a borrower is not disadvantaged.

 

Any thoughts please.....even if I am barking up the wrong tree. I can take it on the chin!

 

Thank you.

 

ims

[ims21]

Bump for post #5 please.

 

Any advice appreciated

 

Thank you