Oakwood Homeloans Ltd

[plshelp!]

I dont know what to do about this company. Try to keep it short. Been with them since 2006 had issues from the start but recently ran into problems with business, so built up arrears. They went for possession but I instructed a solicitor and they decided not to attend court but did not cancel, so we had to attend (they still added charges of 400 plus to account), I obviously had to pay my solicitor.

Since they telephoned to see if I would be interested in capitalising the arrears I said yes but only if I could see figures first. They sent me figures with a notification that the arrears had been capitalised following my authorisation . The figures did not make sense they had added an unexplained 3500 to my account, I wrote official complaint.

 

The repone I received today, 'head office authorised capitalisation', that justifies it then, 'they will reverse but it will show on credit file' ! They have also provided a breakdown of figures charges for everything from 50 per month arrears fee to insurance premiums to DD return 30, twice a month. They also have charged all the solicitor costs and court costs. they also admit in the response that they have reversed some insurance premiums off my mortgage balance and reduced my arrears by the same amount. The insurance will no longer be charged in my payments. This equates to double accounting, adding to balance of account and charging me monthly in payments. How many other account holders are they doing this to ?

 

I have phoned Ombudsman but I lost my last case against Oakwood (different mortgage) with them and it took a year before the result. Any ideas from anyone would be much appreciated.

 

They are offering big discounts but very difficult situation to remortgage in.

[Guest Old_andrew2018]

Bump

[citizenB]

Have brought this to the attention of the site team.

[steven4064]

First thing plshelp - do not deal with them by phone. You may reach an agreement but then, a few months down the line, you will find they "forgot"

 

Write and ask them to give you the figures, use a SAR if necessary

[plshelp!]

This company is a joke, they sent acknowledgement of complaint stating they will respond in ten days dated 20 October, they then send a follow up dated 17th November stating they are unable to provide a reponse. But they can conclude matters and provide a full response in next 8 working days !

[plshelp!]

A long story has followed with this mortgage, transferred to Mortgage Title Resolutions, been to court regarding charges and the farcicle management of the account. The judge, although questioned a lot of the charges, deemed them to be fair, even though he could clearly see there had been two returned DD fees in same day !!!! The funny thing is I get a telephone call from Oakwood today, who say they have been trying to contact me, why not just ring in the first place ? Even to the point of sending letters to my old solicitor. The reason to repay charges, can anyone shed any light on this ? It could be the result of the FSA investigation into HML, if so anyone with past or present Oakwood mortgages make sure they have your contact details as a cheque could be on its way !

[plshelp!]

There is definately a readdress programme at Oakwood, received a cheque for a small amount of the charges they had allocated to my account. The situation makes me smile, I have had the charges from Oakwood and them receive a letter from the current provider asking if they should get the cheque taken of the fees balance or do i want it repaid to me ? Uh, what type of accounting is this ?? The fees have been repaid should they not be reduced from my balance. I cannot believe a judge backed this bunch of [edit]!

Edited November 14, 2011 by steven4064
I'm afraid you can't say that as it potentially libellous

[plshelp!]

Am i right in believing this ..

 

..we hold a mortgage over a property.

 

We purchased it in say 2006 for 140k, sub prime mortgage for 120k.

 

The markets collapse reduce the value to 70k,

the mortgage company collapse and sell its debts at greatly reduced values,

 

initially some reductions are offered by Oakwood but you are very lucky if you can obtain a mortage in the current conditions,

especially when its to replace sub prime.

 

In step the profiteers they buy up the reduced debts and in doing so the effective rights of our properties.

 

They then start the game,

add as many cost as possible,

increase the debt all under the contract and sort of legal but just add costs, costs and more costs,

19k has been added in two years and backed in a court room in my case.

 

They squeeze as much as possible and then gain control,

sell for as much as possible,

 

oh after instructing

 

the house has a make over first but not paid for until sale.

 

They advertise in local press and gazump if they can get an extra 1k.

 

The property sells £88k at profit to them but a massive shortfall to me,

 

i am exposed for a profit of £30k plus all enforcable through charging orders etc and eventually bankruptcy.

 

This is a regualted homeloan.

 

I would say i am lucky i dont live there

 

oh but then there is the charging order.

 

Morals, Britain aint got any left !

[steven4064]

I've moved this post to its own thread as you had posted on a very old thread. Hopefully, you will get more help this way

[dx100uk]

i expect you have all the documentation?

 

i know its a sorry story.

 

but...i just wonder where all these charges poss PENALTY ones, might fit in

 

and if MCOBS is a line to investigate too?

 

dx