Home Rpo'd.by YBank...what should show on CRA file - mine shows MORe than shortfall figure

[uselesswithcredit]

When your home is repossessed then sold with a shortfall balance can anyone advise me of a few queries;

 

Does your credit file show the remaining shortfall balance on it?

 

Should the arrears shedule listed on your CRA match the lenders arrears or mortgage statement

for example when your mortgage agreement is void through reposession and the lenders stipulate 5 months arrears up to Feb.

Should it be the same info on your CRA for the montb Feb also?

 

The amount shown as the account opening balance (account balance shown on the breakdown that shows the property sale

, reposession fees etc and the shortfall balance) would that figure be the same on your CRA

and should it be the amount that was used to inititate the repossession process

and again in the eviction hearing?

[citizenB]

Your credit file should show an accurate reference of the state of the account.

 

 

So.. if the starting balance (shortfall) is say, £50,000 that is what it should show - then when payments are made the balance should be shown as reducing. I would think there could likely be a minor difference.. if the company doesn't update the CRA file every month or at the same time as they issue their statements.

[caro]

Costs of selling, solicitors fees etc will be included in the debt which I believe would show on the cra file.

[uselesswithcredit]

I would have thought so but it shows balance 0.

 

The actual default figure quoted to DJ as redemption figure

is not the same figure used on the final account for the balance due before all their ridiculous fabricated approx. 15,000 costs are added

and (I had thought it had been overstated) there is a lower figure by approx. 3,000

and the number of payments in arrears do not match up to statements from lender,

as I had also made payments to them

I knew something wasn’t quite right.

 

CRA last updated 2012 1 mth after sale

 

Property Sold 3 mths after eviction.

 

Sold on the cheap for 75,000

 

approx 40k shortfall

 

The DJ was led to believe that the property currently had neg equity due to what they portrayed as the redemption figure,

but in fact the property was valued higher than their redemption figure

plus on the true balance I actually owed there was definitely equity in the property.

 

I did reply to the final account letter but they never contacted me over it again.

 

They unlawfully increased the monthly payments on a fixed rate mortgage

 

They hit me with arrears charges plus interest,

 

 

they added a charge for buildings insurance plus interest ( i never agreed to it as had my own).

 

 

I had fees,

costs ,

admin charges plus interest on my account from the first hearing,

never informed me of breakdown in full.

 

Out of the blue Dec 2014

i got a letter about the arrear charges being wrong and they are refunding all customers regardless from 2009.

 

 

Obviously they credited the shortall with my 1500.00.

 

 

However when I took a look at my statements

I was actually one of the unlucky ones who was in fact charged after 1 payment fell into arrears and it began in 2008 not from 2009.

 

As a result of their actions in wrongly increasing my mortgage balance ,

and in the unfair way I was treated by them which led to them securing a repossession ,

partly based on their misleading and overstated info given to the court

 

 

could I seek compensation for a reposession that shouldnt have taken place?

 

Do you think they know that they have unfairly treated me?

 

Could they be trying to hide ths truth?

[citizenB]

Well you could certainly make a formal complaint see where that takes you. You would need to back up your findings with statements and copies/ screen shots of your credit files.

 

Submit your complaint to the mortgage lender in the first instance head it Formal Complaint and send to their Head/Registered office. If you don't receive a response that you are happy with, you can then escalate to the Financial Ombudsman. You might want to obtain a Subject Access Request before you take things further.

[uselesswithcredit]

What information will the SAR detail please?

Sorry if I sound dumb but I’m not clued up on dealing with credit, hence the reason I end up in a mess.

 

Also if a fixed rate mortgage payment is altered and written notification is received from the lender

informing you of the new payments required for the coming year

is that referred as changing the conditions of the mortgage?

If so is that allowed?

 

Looking through all my docs

the increased payments had references to the SVR increases.

 

 

At the end of the five year fixed term I would have reverted to their SVR

unless I changed lenders or entered into another agreement with them.

 

 

I had two increases

one commenced in 2010

and 2nd 2011.

 

 

I do recall it being confirmed upon querying the altered payment amounts that the increases where applied as their SVR had increased.

 

 

So could it have been an error made by one of the employees

who calculated my payments on my account in relation to my annual mortgage statement

as though I had a SVR mortgage and not the 5yr fixed rate

I had agreed with them on entering into the mortgage.

Or is this something that they are entitled to do and im reading the contract and statements wrong?

 

This lender has been fined very large sums and ordered to pay compensation to its customers for various reasons over the last 5-6 years .

 

 

Some relate to unfair treatment of its customers,

Not providing accurate information to the ombudsman when requested by them,

applying unfair mortgage arrears

and other charges to customer accounts

and actually deleting accounts

and falsifying documents for their own gain.

So I do not have much faith in the integrity of this company.

 

 

If I am on the right track and the actions of their employees could may well have contributed to a family losing their security and their home,

I may well be able to pursue them.

 

 

Based on press coverages

its not beyond them to cover up as best they can any previous wrong doings that may become apparent at a later period.

 

 

If so it could be other customers past or present have or are now in similar situation’s.

 

Is there any one who could possible advise me if this is a possibility, or they are aware of a similar ??

 

 

Any advice greatly appreciated.

[slick132]

Can you name the lender so we know who you're dealing with.

 

[uselesswithcredit]

Yes the Lender was Yorkshire bank

[dx100uk]

hi

I've seen the message to cb you sent

 

im rather tied up today

 

but is there any chance you can either scan the statements and post them up in pdf forum?

follow the upload guide us pdf too please

 

dx

[uselesswithcredit]

This is my spreadsheet I've done and will upload the mortgage ones next, I've listed every payment made.

 

Statements

 

2010 I never had a statement but have their letters showing payments made

 

I also have a spreadsheets that includes all the charges they applied which i believe did increase the overall mortgage with interest by 2000 plus ?

full mortgage without charges (1).pdf

2007-2011 statement.pdf

2010 statements.pdf

[dx100uk]

you can certainly input ALL the fixed sum fees like

arrears admin fees.

returned DD fee

returned cheque fee

 

 

if you can PROVE that the sum used on any court proceedings included these sums

then it can be challenged.

 

 

ell-enn is better placed to confirm or deny better than me what is best for you to do.

 

 

dx

[uselesswithcredit]

Yes they included everything.

 

 

What about the 5yr fixed rate I had but they increased the payment due figures in 2010, 2011 and would have been again in 2012.

Is that allowed??

 

 

To be honest their final account with the alledged shortfall is absurd.

They have even calculated the early settlement figure different to what the conditions states.

The whole affair smells fishy to me.

 

 

Im think the interest they have charged is not daily as states in contract

they seem to have based it in the previous years closing balance which would be incorrect

so although is daily it's based on previous years and not the balance in the day;

"Daily interest is best as the amount of interest is calculated on the outstanding balance every day.

As your balance falls, so does the amount of interest you’re paying".

 

"With annual interest, for example, the interest is still calculated daily but it’s based on the previous year’s balance,

so it takes a year before the capital amount is reduced."

 

If they charged daily on the balance at hand their figures would be the same as my spreadsheet.