Jump to content


surrey_36

GE now Kensington Int Only Mortgage - trouble paying..lots of fees

Recommended Posts

I have been in hardship for about 5 years,

been in and out of mortgage arrangements ,

and 1 suspended possession order,

which was about 5 years ago.

 

Since this time I have had multiple mortgage admin charges of £40.00,

whilst the account was in arrears,

probably about 3500 worth of charges.

 

I was told a while ago I could possibly,

reclaim these charges but did not follow this up.

 

Is this still worth a go doing.

Seems unfair that they charged for hardship when the account never went more than £1500 arrears at any one time.

Then there was the solicitors charges which was unnecessary as was in communication with them at the time.

 

Any advice would be much appreciated

 

Admin charges have been and continue to be added to total mortgage,

so been paying additional interest.

Interest only mortgage

Share this post


Link to post
Share on other sites

yes, you can recover them if they are not part of the origianl agreement and even if they are the amount must reflect their costs not just some arbitrary amount so a fiver a pop would be closer to the mark.

They shouldnt be charging interest on the amount either as it is not part of the loan but a fixed fee.

Share this post


Link to post
Share on other sites

Hi to anyone that can help.

 

I have an interest only mortgage with Kensington,

they recently took the mortgage over from GE Money.

Kensington have definitely been more patient and understanding in terms of my hardship.

 

I have arrears of about £2500.00

I have been paying when I can and sticking to arrangements.

 

My ex partner (father of my 2 little ones) has bipolar and cannot always work and therefore cannot always make payments so this has always put me in a hardship position.

 

Kensington have been pushing for an arrangement which I completely understand

- I called them yesterday and explained this was an extremely stressful time and they kept me on the phone for 40 minutes to come back to me to say that they would not be able to stop proceedings to repossess without an arrangement.

 

I'm finding it so hard to concentrate on anything

 

I advised Kensington that I started anti depressants and am taking low dose Valium too and finding it very difficult to cope with day to day things.

 

I was upset when on the phone yesterday

they did not agree to just give me a few days to get through my serious issue

 

I offered them the police ref number but they did not want it.

Edited by dx100uk
child sex case

Share this post


Link to post
Share on other sites

Firstly, it will be helpful if you could use better spacing and paragraph spacing in your post. It's very difficult to read a solid block of text online. It may put people off helping you.

 

Secondly, do you say that you already have some arrangement with GE money or with Kensington? And that you have stuck to the terms of this arrangement?

 

If so then do I gather that Kensington are trying to change the terms of that arrangement?


Share this post


Link to post
Share on other sites

Ok thank you sorry.

 

I have offered them £100 a month for the next three months and asked them for a few days to get through the thick of what's going on, I am self employed and been unable to work due to whats been happening I have asked for a few days to be able to provide accurate income and expenditure

 

thank you bank fodder

Share this post


Link to post
Share on other sites

£100 seems quite a lot to me.

 

You originally said that there was an agreement but now you are saying that you have simply offered it to them. Can you clarify this please.

 

Whatever you do end up offering them, you don't want to over commit yourself because if you falter on the instalment plan later on then that opens a door for them to come crashing in on you.

 

Can you please gives a bit more detail of exactly who has said what to whom


Share this post


Link to post
Share on other sites

Hi all,

since being in financial difficulty over the last few years

I have had dozens of £40 admin charges added to my account for making late payments.

I understand that I can claim these back

 

I have read other posts to see the procedure which is so helpful thank you,

 

Im just wondering how it would work as last year my account was taken over by Kensington Mortgages and if they refunded the admin charges where would the refund go

- woud it be sent to Kensignton to pay off the charges arrears balance?

 

Many thanks !

Share this post


Link to post
Share on other sites

you need to work out how much it all adds up to including interest on the charges (unlawful). If the debt was legally assigned to Kensington then you get the money from GE, it cant be just passed on to reduce your debt with another company although they will try that on if they even admit they owe you the refund

Share this post


Link to post
Share on other sites

I'm just starting a claim for £40 admin charges added over the years,

 

Ive been reading through threads tonight and just confused about the spreadsheet to use and what interest charge to put into the spreadsheet.

 

On the mortgage statements the interest rate varies from 2.95 up to 7.99% on the 2006 statements.

 

Also unclear if I should use the StatInt Sheet or the CISSheet.

 

At the end of each statement is says for example (annual statement 2009)

Interest Bearing Charges £1837.50

Additional Interest Incurred £213.88

Payment received towards these charges & Interest £125.54

 

So gathering from others posts and responses these additional charges are non reclaimable?

 

Sorry for posting when I'm sure this is all in here! Just want to make sure I get this right, as I usually get everything wrong! :roll:

Share this post


Link to post
Share on other sites

I very much doubt you'll get penalty charges back out side of 6yrs.

 

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

Share this post


Link to post
Share on other sites

OK thanks DX Ill just go back the last 6 months and re do the spreadsheet - can you advise me on which spreadsheet to use and what interest rate to put in given that the rate varied over the time?

Share this post


Link to post
Share on other sites

6yrs not months

you could try putting ALL of them on your sheet

see what they do??

 

stat int sheet [auto at 8%] as that will be more money than the CI at 2%


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

Share this post


Link to post
Share on other sites

Thanks DX! All done and in the post recorded delivery. Will update the thread once they replied.

Share this post


Link to post
Share on other sites

good luck

 

 

what were the charges for? and what are your grounds for refund?

Share this post


Link to post
Share on other sites

Update: GE Money replied to me saying that since my mortgage was taken over by Kensington last year that they have closed the case and forwarded the complaint over Kensington.

 

I thought that as GE had charged the admin charges originally that the claim would be to them.

Question is do I trust that they have forwarded the claim to Kensington or do I resend the complaint again :???:

Share this post


Link to post
Share on other sites

what were the charges for? and what are your grounds for refund?

Share this post


Link to post
Share on other sites

Hi Jaxleeds,

the charges are for administration charges

- sometimes they charged £40 sometimes £50,

also some other charges like counselor visit?

 

I am advised these charges are way over the actual costs to them as a company and are therefore unlawful and can be reclaimed.

Probably better that one of the CAG experts explain it rather than me!

Share this post


Link to post
Share on other sites

already tried but its not stuck in...


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

Share this post


Link to post
Share on other sites
Hi Jaxleeds, the charges are for administration charges - sometimes they charged £40 sometimes £50, also some other charges like counselor visit? I am advised these charges are way over the actual costs to them as a company and are therefore unlawful and can be reclaimed. Probably better that one of the CAG experts explain it rather than me!

 

 

Exactly the same situation as me then. Good luck!

 

 

dx - what have you tried to explain to me that 'hasn't stuck in' ?

Share this post


Link to post
Share on other sites

I have had a reply from Kensington in relation to my claim originally to GE Money (but then as the mortgage was taken over by Kensington the claim was redirected to Kensington).

 

They have offered as a gesture of goodwill to refund 9 Admin charges of £40.00 and one charge of £50.00. Totalling £410.00. There is no mention of compound interest but only am additional payment of £50 as they did not keep me informed of theprogress of the complaint as promised.

 

There are over 20 admin charges within the last 6 years of £40 and some £50, also a 'debt counselling' charge of £90.00, I need to put this all into the spreadsheet again but I think this adds up to with compound interest about £1400.00.

 

Can anyone advise me of the next action given that they have provided this response not including all unfair admin charges and not including and compound interest.

 

Thank you :)

Share this post


Link to post
Share on other sites

do as you've correctly stated


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

Share this post


Link to post
Share on other sites

That was quick DX thanks!

Is there a template letter on here I can use to follow up with ?

Help is much appreciated!

Share this post


Link to post
Share on other sites

no need for one

simply write back and demand the other charges back ONE line

inc spready


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

Share this post


Link to post
Share on other sites

Their letter says its their final response and if im not happy to go to the FOS?

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...