FirstPlus/Paratus AMC - Jaw-dropping Redemtion fees

[BankSqueezed]

Hello all

 

My problem in a nutshell:

 

I've just sold my house and was flabbergasted to receive not one but two exorbitant redemption statements from my first and second mortgage companies, although the names of the lenders will no doubt surprise no-one here:

 

• First Mortgage - Paratus AMC (interest only) - Balance approx. 160,000, 'Arrears, Arrears Interest and Fees' almost £4,000 (I'm pretty sure there are no longer any actual arrears)
  

• Secured Loan: FirstPlus - Borrowed 50,000, Balance - 27000, Settlement figure **43,000** - I thnk I must have a share of Vorderman's plane included in that
  

 

I was in arrears for a while after being unemployed for around a year between 2009-2010 and made payment arrangements with both companies and it appears to me that they have been profiteering from my misfortune and my lack of understanding of how they operate, ever since.

 

I can't stop the sales process (we'll complete tomorrow all being well), but I'm hoping there may still be something I can do after redemption.

 

Any pointers as to the appropriate forums for these matters (if this one isn't) - and advice on getting some redress - would be very welcome. I've had a look around, but unsure.

 

Thanks

BankSqueezed

[sillygirl1]

Go for every single charge on the account after completion on both companies, and double check that they have been charging you the correct interest.

 

I'm doing battle with Paratus over an old mortgage repossession where they are clearly chasing fees added onto the mortgage after completion - thereby creating a 'shortfall' to chase.

[BankSqueezed]

Thanks very much sillygirl1

 

Could you point me in the direction of any useful info/guides? I've had a look around but can't seem to find anything specific (probably looking in the wrong places).

 

BSq.

[sillygirl1]

There aren't really any guides or templates around. You need to SAR both companies to get all the information you need then look through it finding out the mistakes, spurious charges and put them onto a spreadsheet then write a letter, giving them a realistic deadline (ie one month) to repay or you will go to court. Be prepared for them to stall and fob you off. When you get a final response letter go to the FOS and complain.

 

It will take a while but you need to stay the course and you might be rewarded.