New Claim for Mortgage arrears fees against Kensington Mortgages with questions any help appreciated.(Step by step)

[oofmoo]

Hello everybody.

Thankyou for your time and any help reading through this.

 

Hopefully by starting this thread and keeping it up to date throughout the process

it will encourage and help others in a similar predicament should I be successful.

 

I am starting the process of reclaiming excessive arrear fees

(plus any other fees I may find applied once I have my SAR request back).

 

I have held a mortgage interest only with Kensington since mid 2007.

 

It was a Self cert as I was self-employed at the time and went through a Broker.

 

I was not offered any advice on how to pay the mortgage at the end of the term as it is interest only.

 

Until I receive my SAR request I will not know what this Brokers fee was as I do not have the paperwork.

 

How can you make a decision on if what he charged can be deemed as excessive???

 

At various times throughout the period of the Mortgage we have had arrears due to the recession hitting and work has sometimes been inconsistent.

(I was a self employed Roofer which I find myself back doing after having a full time regular job.)

 

Each time this has happened they have levied £50 arrears fees which I have questioned over the telephone on numerous occasions without any joy and the usual

"it is in our terms and conditions" speech.

 

However after reading an article from 2010 saying that Kensington were fined roughly £1.2 million

and told to repay these excessive charges back to their customers I am wondering why this has not happened to me.

 

Has anyone had any joy reclaiming after quoting this article???

 

It can be found by typing "Kensington Mortgages fined" into google.

 

Is there anybody out there that has already had a successful claim and been paid these fees back by Kensington?

 

Another thing that is worrying me is that the original price of the property was £113,000.

I remember paying a 10% deposit which was obviously £11300.

 

The money I put down I do remember being more than £12,000 with fees (which I will find out once my SAR request comes back).

 

if once the deposit was paid and the fees , then a starting balance of £101700 would be correct??

 

What I cannot understand is after paying the Mortgage at interest only for close to 5 years ,

how we now have a balance of £109,000 outstanding????.

 

I am not the best with arithmetic but surely something is going very wrong here.

 

At this rate if they are adding £7300 to the balance every 5 years that would equate to 36,500 on top of us paying the monthly interest payments.

Forgive my naivety but does this sound correct???

 

Any help I can get will be much appreciated as I am at my wits end.

 

Kind regards & Thanks.

[BankFodder]

Start reading this for starters - http://www.consumeractiongroup.co.uk/forum/content.php?700-Hot-news-for-anyone-who-has-suffered-mortgage-arrears-charges-irresponsible-lending-or-other-unfair-lender-conduct

 

You are right. Kensington were fined and they continue to break the law by not refunding you without question.

 

Get your SAR sorted and then come back here with all the figures.

 

Prepare for court action

[oofmoo]

Thankyou very much for your reply.

I will update as soon as possible.

[Lea_HTH]

The other important thing to do is to find and buy a repayment vehicle for the mortgage as you do not currently have one. (Unless you are planning on selling at the time the mortgage capital should be repaid.)

[cat10]

Ive successfully claimed some money back off Kensington as regards arrears, DD fees etc. Having said that im still waiting for the cheque now 10 days late. In my acceptance of this i had a clause stating it had to be paid by a certain date. They have failed in doing this so im referring it to the FOS.

My mortgage with this shower is paid up, so any action against them will have no effect on me. Terrible firm to deal with.

[matsi00]

I too need to do something about my secured loan with Kensington. In 2008 I got into arrears and although I had an agreement in place to pay they charged me £50 a month arrears fee on top for quite a while. I am aware they were fined and don't understand why I haven't been refunded. Am going to go through all my loan statements and see what I ought to be reclaiming. Since they have been given a hefty fine one would hope they will pay up without too much hassle, but then again it is Kensington we are dealing with!

[ukspooner]

hi

im about to start a claim against gemoney for my mortgarge arrears doesanyone know if there are any letter templates on here