SPML / Capstone charges & ERC reclaim

[pete42]

Hi...can anyone help me.

 

I had a mortgage with spml and also a loan with sppl from 2002 - 2006.

 

During this time like a lot of other people ran into difficulties,

finding myself in and out of court with repossesion orders..

...I was charged ridiculous amounts for admin fee amongst others.

 

..We eventually had a repossesion order granted against us but fortunateley we managed to sell the property in time.

 

..We were charged £13,500 ERC on the mortgage.

..and £6000 ERC on the secured loan...

 

The other fees and charges during this time were outrageous.

 

I believe we also had PPI on both these accounts that we were not aware of.

 

DO I HAVE A CHANCE OF TAKING THESE SHARKS TO COURT TO GET OUR MONEY BACK???

 

Any advice would be much appreciated

 

Thankyou

[dx100uk]

HI pete

 

i've created your own thread

 

yes ofc ourse you can hit them

 

and prob wont need to do court

 

certainly not on the PPI or the PENALTY charges side

 

as for the ERC , i dont remember at this moment.

 

have you ALL the statements?

 

if not might be worth an SAR first

 

dx

[pete42]

thanks DX

 

I am going to high wycombe on monday in person to their offices to pay the ten pounds for all my statements. does it matter that this was from 2002- 2006....My main gripe is the redemption fees even though we had to sell at no profit to cover these charges... has anyone won these back under these circumstances...

[dx100uk]

have a look at the stickies here

http://www.consumeractiongroup.co.uk/forum/forumdisplay.php?80-Mortgage-companies

dx

[pete42]

Hi

I turned up at their offices today with a letter in hand asking for all my statements as I had lost them..

 

...After a few minutes I was greeted by Andy from customer services....

 

I handed him the letter and told him that I needed these statements for tax reasons (he believed me)!!!

and within 15 minutes he was back down with all my statements.

 

I told him that I was under the impression that a £10 fee was applicable to which he simply replied "dont worry"???

 

Back home going through these statements I was charged a total of £3500 in Arrears management fees,

£400 in Litigation fees,

£500 in Agents fees,

£350 in Repayment fees,

£250 in Unpaid direct debit fees,

£6700 in Legal costs ( was in court 3 times to appose repossesion orders)??? and

£5600 in early repayment charges ( even though at the last hearing the judge granted me 3 months to complete the sale to pay of the mortgage which we did....just)

 

My first question is which of these can I claim back??

 

My second is if I was to charge them interest on these amounts how does that work?

Is it 8% per year from when the charges were made??

 

Look forward and appreciate any advice

 

Pete

[pete42]

Forgot to mention...I cant find and PPI payments on the statements....Would they of hid them somewhere or could it be possible that they at least didnt stitch me up with that??

[dx100uk]

PPI shoul show

 

if you look in the stickies of the link i sent you

 

you cant sort out what you can/cannot reclaim

 

dx

[pete42]

THANKS.. i HAVE LOOKED THROUGH THEM....cOULD YOU TELL ME IF THE INTEREST ON ARREARS THAT i WAS CHARGED IS RECLAIMABLE??? ALSO THE 8% THAT I CAN CHARGE IS THAT PER YEAR FROM WHEN THE MORTGAGE WAS PAID OFF UNDER THE POSSESION ORDER SO FROM 2006 UNTIL WHEN I SEND THEM THE RECLAIM REQUEST TOMORROW??

[dx100uk]

you can reclaim int at THEIR rate on any fees you reclaim. until the mortgage was settled.

 

then 8% on the TOTAL of your first SOC @ 8% till today

 

dx

[pete42]

Thanks. so that means 8% per year, so six years from 2006....and what is SOC....

[dx100uk]

schedule of charges [spreadsheet]

http://www.consumeractiongroup.co.uk/forum/showthread.php?330996-Latest-Spreadsheets-PPI-Claims-and-Charges-Claims-Dec-2011

 

enter the PENALTY fees in the 4th one here

end the claim on the date you settled the mortgage

use THEIR int rate.

 

take the resultant figure

 

and enter that is the FIRST spreadsheet

 

under the date the mortgagewas setlled.

 

that should then give you the 8% stat till today.

 

dx

[kaz320]

If you had a fixed term mortgage check if you were repaying the mortgage within that fixed term, for example the fixed term might be 3 years, if outside of the fixed term there is no way you should have to pay that amount of ERC. If you were within the fixed rate term look back at your original documentation when you first took out the mortgage that will tell you.

[pete42]

Hi....Well after 8 weeks of waiting finally today a 5 page reply to my complaint of arrears management fees arrived......They are basicall saying that they are allowed to charge these fees and that they will not be reimbursing them....What do I do now??? The FOB is from what ive heard is a waste of time...Do I go down the court route???Is this a standard reply from them???And does anyone have any experiences of this...Please help me... Many thanks

[dx100uk]

http://www.consumeractiongroup.co.uk/forum/showthread.php?244476-Reclaim-unfair-mortgage-arrears-fees-FSA-says

[pete42]

Thanks DX...

Can you let me know that even though I was in arrears at the time these charges were being incurred, I am still able to claim them back through the court. If these charges have been deemed 'unfair'.....and although my mortgage with them was redeemed 6 years ago...how can they still be charging them to other people today??please help

[dx100uk]

yes makes no odds

 

they are an unlawful PENALTY charge

 

matters not wht state the account was in

they do NOT truely represent their admin costs.

 

dx

[pete42]

Thankyou. Is there a draft or anything that will give me an idea as what to say on the paperwork for the court?? And what else should I send in with the paperwork..

 

Thanks in advance..

 

Pete

[caro]

In the early days of CAG some people tried to claim Early Redemption Charges and lost in court costing excessive amounts in costs so I wouldn't suggest you try for that.

 

You should ask for copies of their solicitors bills to make sure they aren't charging more than it cost them.

[kaz320]

Hi

 

If you have mortgage PPI (MPPI) it would not show on the monthly payments but would be included within that payment. It would show on the original documentation you would have received from the lender.

[mustard7]

I had prettying the same issues as you with SPML.

I managed to claim the ERC charges back without going to court however.

Basically I argued the toss with them about they required 1 month notice on the sale of the house and therefore repaying the mortgage.

They stood fast with the arrears management fee though and in the end cut my losses and settled for about £2000 from them when I had calculated they owed me around £8000.

Saying that, it took a lot of letters going back and forth. They originally offered a couple of hundred pounds... But with persistence I got the £2000.

Looking back I wish I had the guts to have taken them to court, but reading some horror stories on here I decided to cut my losses.