Old GE money mortgage now Kensington - Arrears & Payment Arrangement

[surrey_36]

I'm in mortgage arrears with Kensington, aprrox £6.5K.

I have had arrangements with them and ive broken the arrangements several times due to unforseen circumstances.

Things have been getting better financially and I managed to set up a new arrangement with them last August and have been paying ontime and keeping it up with it.

 

Im struggling again (just had to payout for a new laptop which was lost/stolen whilst travelling at xmas and business is dead!)

Over last few months have had a steady flow of business but things have slowed right down.

 

I spoke to Kensington on Friday and asked if they could help (again) but they said that if im not earning enough to cover the mortgage and pay off towards the arrears then they would have to take further steps. Im assuming this is becuase of the arrears already owed.

 

I found myself then panicking and lying that I did earn enough to do that, and now really panicking that I cant!

 

On a recent statement this is current situation approx:

Payment arrears : £6.5K

Fees and security related charges: £3.5K

Total £10K

 

This is an interest only mortgage taken out in November 2014.

The payment is small at £450.00 p/m including arrangement, but with business so dead its going to leave me with literally nothing, and i mean nothing If i pay this.

 

If anyone has any advice would be really helpful thanks

[dx100uk]

for the full history of this mortgage I have merged 5 threads for you

 

that will help people advise you.

 

i'll pop in later too

 

dx

[surrey_36]

thanks dx

[surrey_36]

has anyone got any suggestions what i should do. Just wondering if perhaps a visit to Citizens Advice Bureau. The thing is that business could really pickup next week (and is looking quite possible!), ups and downs of self employment make these arrangement situations tricky!

[dx100uk]

I will but I've been busy

 

poss later this morning

[dx100uk]

that was a long read.

 

send Kenny an sar for a start.

and STAY OFF THE PHONE TOTALLY.

 

I would now suspect that the old GE SPO can no longer be enforced by Kenny so forget that one.

 

the fees and charges of £3.5k worry me..those can be reclaimed and should NOT be inc in any enforcement they might start.

 

lets see if we can keep things like you engaging with this thread on a regular basis going this time....

 

as I said ive re read the threads merged and we seem to make inroads in your issues

then each time you suddenly disappear and comeback with a greater issue rather than continuing to engage with cag and sort the issues each time,..

 

for how long have you kept to whatever arrangement was inforce with GE then latterly kennys?

[surrey_36]

Thanks dx - sorry about the long read! Apologies for not updating threads properly..

I'll get an SAR to Kensington in the post today,  they are calling a lot on the phone, no doubt chasing payment was supposed to send on Monday - that I cant pay.

 

With regards to the SAR - would it be acceptable to also include a note a long the lines of I'm not paying anything until the SAR comes through as I'm concerned about the fees, or would you recommend i try to pay them something, albeit quite small.

Also wondering if I should send something that states I only want to communicate it writing

 

Its very difficult to say how long i have kept to any arrangement for without going through bank statements, which I will do this eve

 

New site looks great by the way...

 

[dx100uk]

I wouldn't be doing either

just pay what you can when you can.

[surrey_36]

OK Thank you dx

- SAR in post today and will send a payment over this evening, will not speak to them on the phone

 

Looking back over statements since Jan 2017, max I manged to stick to an arrangement was 5 months before breaking it again

 

Letter from Kensington today saying they are sending a field agent and that i need to cancel if otherwise I will be charged.

Also..  When sending an SAR, unsure if i need to sign it, as they are not the original creditor!

 

says : in certain circumstances, normally because mortgage has not been paid, we may send a field agent, if you do not cancel the visit 5 days prior to receiving written confirmation or if you refuse, we charge an agent refusal fee (£48) . etc etc

I guess I can probably expect a letter advising of an agent visit due to the broken arrangement.  Will update this post accordingly.

 

[dx100uk]

theres is nothing and there has never been ever ..any advice ever on an SAR NOT to sign it if you are NOT sending it to a DCA

not sure where you are getting that from.

they can send and waste their time with any field agent they like

you'll still get charged.

that Kenny's for you

[surrey_36]

Thanks dx, have sent SAR and hopefully they will respond soon.   Have not been able to pay anything and getting tons of calls.   I sent an email saying i would pay as soon as possible and also said that I would prefer to communicate only in writing but they are continuing to call.

 

I am very worried that next thing will be a letter about repossession.  Ill have to deal with that if it comes.  Hopefully funds will come in soon so that I can get some sort of payment over to them!

[renegadeimp]

Youre worrying over nothing. This is all easily sorted if done the right way.

[surrey_36]

Can you tell me correct way to deal with this, thanks Renegadeimp, I have requested SAR just waiting on this at the moment

[dx100uk]

as far as I can see there is no SPO in force? so they cant rush to evict you at the drop of a hat.

but you must resume payment ASAP.

 

[surrey_36]

No SPO in force at all..   I will resume payment ASAP and await reponse to SAR, thank you

[surrey_36]

SAR Arrived in he post this morning, very big bundle of papers..  What should i be looking for in this lot, might take a while! 

[dx100uk]

any all fixed sum penalty fees like 

arrears

letter

phone

debt visit

 bet there are £1000's of them all can be reclaimed.

 

also look for unwanted insurances like buildings [if you already had a policy running]

contents insurance etc etc.

 

dx

 

[surrey_36]

My Kensington Interest Only mortgage is in arrears by about 7K.  They have been pretty good over the last few years since death of partner, low income ,covid etc.

 

Just got myself back into full time employment and completed their income & expenditure form with my new income and outgoings etc.   

 

Having spent an hour on the phone to them, going over everything that was included on the form, they decided at the end of the call that they wanted copies of all my bank statements before they would consider a payment arrangement.   I was a bit annoyed about this as they said unless i give them the statements then they will proceed with legal proceedings.

 

It was my understanding that legally i don't have to send them my statements but I don't want to rock the boat as i do NOT want to end up in a repossession hearing, which is something that happened recently on a secured loan (that nearly put me in an early grave through stress and worry!)

 

Is anyone able to advise me what's best to do

- if I give them my statements its going to cause such complication and as they will see money come in that my sibling's have loaned me and parents have loaned me.

 

My income will look much more than it is and there will also be outgoings for things like days out with the kids, occasional pizza's etc thats not been mentioned on the income/expenditure!

 

I'd be really grateful for any advice! I definitely dont want a legal process started!

[dx100uk]

On 28/02/2019 at 18:27, surrey_36 said:

OK Thank you dx

- SAR in post today and will send a payment over this evening, will not speak to them on the phone

 

Looking back over statements since Jan 2017, max I manged to stick to an arrangement was 5 months before breaking it again

 

Letter from Kensington today saying they are sending a field agent and that i need to cancel if otherwise I will be charged.

Also..  When sending an SAR, unsure if i need to sign it, as they are not the original creditor!

 

says : in certain circumstances, normally because mortgage has not been paid, we may send a field agent, if you do not cancel the visit 5 days prior to receiving written confirmation or if you refuse, we charge an agent refusal fee (£48) . etc etc

I guess I can probably expect a letter advising of an agent visit due to the broken arrangement.  Will update this post accordingly.

 

 

multiple threads merged going back 10yrs for the full story

 

why are you speaking to these fleecers on the phone ....they lie!!

 

did you ever hit them with all the charges reclaiming?

 

dx

 

[surrey_36]

hi DX - I never got round to it ( I'm stupid i know!), I just wanted them off my back with the repossession threats and so I came to arrangement which through covid etc I had to break ( no income).  Trying to setup again now back in full time employment but they are insisting on bank statements.  

 

What's best way forward - i don't want to end up in court in a situation where there is a risk, as mentally I couldn't cope!

 

 

[dx100uk]

who says you actually owe anything

 

get reclaim get the spreadsheets done.

 

[surrey_36]

they have said that unless i get bank statements to them , they will be unable to setup an arrangement and if theres no arrangement they will start legal proceedings

 

Surelyif i start reclaim procedure they will just issue me with a legal proceeding letter?

[dx100uk]

Which is why youve never resolved this issue in 10yrs but just rolled over each time, figthback put them in their box..

[surrey_36]

I know ive been useless.. i should have got this sorted donkeys ago

 

What should be first port of call - a fresh SAR request? Should I write and say im contesting the fees before we setup an arrangement?

[dx100uk]

if you have not got every statement from day one from GE/Kenny 

then SAR both.

 

there has never been any court action upon this debt?

 

dx