Acenden, Spml, Eurosail, Ge money. Are these all same company?

[cruzhughes]

Had a response. What next??

Mortgage Response..pdf

[dx100uk]

our T&C's are gullet proof...

yea cause they are...

 

 

that's why the banks and their charges and their T&C's were bullet proof too

womnder why £1M's were refunded all those years ago then ...T&C can always be questioned, you signed the agreement not their T&C's and their unlawful fees.

 

 

 

 

dx

[martin2006]

So your next step is either to forward it to the ombudsman or to issue court proceedings.

One point to note is that any fees already refunded cannot now be reckaimed so be careful with the spreadsheets in that they are a true reflection of what is owed.

Whether you choose ombudsman or court is entirely your chiice.

 

Ombudsman is free to use, court involves fees at various stages unless you wualify for fee redemption.

[cruzhughes]

Already sent it all to fos this afternoon. Watch this space!

[martin2006]

The good thing about using FOS is that you can always use court after is it fails to uphold your complaint although any interest applied, if successful, will only be simple interest and not compound, but it will be 8%.

[cruzhughes]

How would I go about looking into missold Mortgage. Checked The FCA and the broker company responsible for mine was de authorised by them 5 months later than I took it out in 2006

[martin2006]

Do you mean the mortgage itself or insurances associated with it?

[cruzhughes]

The mortgage was self cert sub prime but I could have proved my income. I can't really find any ppi in the brokers stuff within sar but I think stufff is missing. Only insurance I can see is buildings

[martin2006]

How do you think the mortgage was mis sold?

[cruzhughes]

Things I'm picking up in this SAR.

 

Original purchase price 2001 £42000 repayment different company

 

Remortgage 2006 69000 spml interest only 8.12% variable libor, broker fee £2545.00 and procuration fee £1848 fast track self cert.

No one explained about me still owing the same amount after term and how to change to repayment or give any other options.

 

Figures to pay off 1st mortgage £44100 and loan 14000

 

Only income done no expenditure other than above.

 

Property valued at 90000 yet on another page 95000 doubtful it was anywhere near that value

 

Down as self employed when I was employed.

 

Mortgage set up to fail.

 

Things that have happened since mortgage

 

Ccj logged 5 months after set up many other court threats

 

Arrears, charges ect

 

Fast forward to 2011 onwards no arrears all paid on time and interest rate just under 5%. Would not give a redemption figure when asked

Would apply a fee as of 2016

[martin2006]

Doesnt make for goid reading does it?

 

Are all these things proveable?

[cruzhughes]

Remortgage figures are on paper.

 

P60 would clarify the employment status.

 

Valuation could be found for that year I expect. It's only about 100000 now.

 

There's a Experian credit report within the file.

 

But I think clutching at straws at the rest. Broker not trading anymore.

[martin2006]

I dont think you could make a claim against SPML imho if a broker, who is no longer trading packaged the application prior to sending to SPML, they can only work on the information given.

Are you saying that the broker changed your work status without your knowledge?

[cruzhughes]

I wouldn't have said I was self employed when I wasn't. There are also transcripts in the borrowers notes saying that I was out of work cos the company I had been working for had closed. But clearly I couldn't have taken that much notice before signing. In my defence I was young and naive and probably put too much trust in people.

[martin2006]

What is your objective here? Mortgage annulment?

[cruzhughes]

Good god I could never see that happening. But I do need to remove myself from this company in the future (this year I hope) I've got 14 years left to run. what I've already paid out already shocks me to the core. Had I been on repayment I wouldnt be in this position. Maybe I should have took further advice before.

[martin2006]

So what are you trying to achieve? If there have been charges levied against the mortgage account then those can be reclaimed but i think your on a sticky wicket with the other stuff.

[cruzhughes]

I'm in the process with the Fos for that. And thinking out loud on the rest. Need to see a Morgage adviser to get from these and on with a decent company who ain't going to rip me off in the future. And seek sound advice.

[cruzhughes]

Reply from FOS. What next? Yes most of the charges are pre 2010. But I did not know I had cause to complain until I came on this site. And found out they were very high.

 

 

Mr feels that all the fees and charges applied to the account are unlawful. He wants them all refunded with interest.

 

Looking into the accounts I can see that the vast majority of fees and charges are before November 2010.

 

When we consider complaints we have to look at the time the events took

place. Anything that happened more than six years ago is normally time barred. We can only

look at events more than six years ago if the customer did not know they had cause to complain

but must do so within three years of discovering the problem.

 

Looking at the contact notes supplied by the firm it does seem that you were fully aware of the charges from when the mortgage started. The contact notes show various discussions around the arrears and missed payments.

 

I am satisfied you had enough knowledge to know you had cause to complain.

 

I do not feel any of the charges applied in the last six years are unlawful as they have been applied in line with your original agreement.

 

what happens next

 

I think this is a fair outcome in the circumstances, for the reasons I’ve explained. If you decide

that you don’t accept my view, then an ombudsman here can look at everything again and make

a final decision. Please let me know what you think by 20 February 2017.

[martin2006]

Thats the adjudicators decision, now if you want to delay things for another 8-12 weeks, ask for an ombudsman to review it and no doubt agree with the adjudicator.

Alternatively, reject the decision and go through court.

 

In my experience, FOS is a waste of your time.

[cruzhughes]

Following your email yesterday. I have responded below in bold

 

Looking into the accounts I can see that the vast majority of fees and charges are before November 2010. Yes they were.

When we consider complaints we have to look at the time the events took place.

Anything that happened more than six years ago is normally time barred.

We can only look at events more than six years ago if the customer did not know they had cause to complain

 

This is a mortgage not a loan and the term was for 25 years.

Limitation on mortgages is 12 years that's how long they would chase me for anything i owed them.

 

I only realised I had cause to complain after I received the SAR in Aug 2016.

As the charges were much higher than the market norm.

 

 

I was shown this FSA article

http://www.moneysavingexpert.com/news/mortgages/2010/01/reclaim-unfair-mortgage-fees-fsa-says.

 

 

Since then I wrote to SPML on the 06/11/2016 and again on 9/12/2016.

I came to you after their final response on 6/01/2017.

 

Looking at the contact notes supplied by the firm it does seem that you were fully aware of the charges from when the mortgage started.

 

 

The contact notes show various discussions around the arrears and missed payments.

I had disputed them on many occasions but had never been advised to complain further about them or who to go to to request a refund.

 

 

There was an arrangement to pay back then but they were charging fees and interest on the arrears.

 

 

The arrears were made up of all their extra charges.

My mortgage balance is higher now than it was in 2006 even though I've paid off the arrears many times and made overpayments.

 

These charges represent an unfair term of contact which is contrary to the UTCCR regulations 1999 (Si 1999/2083) This account fails within the ambit of Regulation 5 of the UTCCR Regulations as I am a consumer.

 

The charges and additional interest charged upon them constitute a unfair penalty under schedule 2 of these regulations, which provide an inductive but not exhaustive list of terms which may be regarded as unfair.

 

Look at the statements from 17/02/06 to 11/10/10 I knew about the missed payments and ended up making overpayments and borrowing money to pay them off only to find I was still in arrears from the charges levied borrow more money again to pay off but was still in arrears the cycle went on.

 

 

(If you've got the statements look at 03/11/06, 10/04/07, 16/11/07 cheques paid in)

they were also charging arrears management fees after I had pay these large sums.

 

 

Many of the arrears were made up from buildings insurance (which I held elsewhere) and penalty charges they added on at that time.

 

 

Had these not been so high I would not have been in arrears as I had already cleared the missed payments.

 

I am satisfied you had enough knowledge to know you had cause to complain.

 

Between 2006 and 2011 my time was consumed by keeping my head above water and paying my bills on time and trying to get this company to be fair with me whilst dealing with constant phonecalls and debt collectors visits from this company. They were only interested in adding many high charges time and time again. Putting me in severe hardship and struggling financially

 

Its only now I understand that according to the The mortgage Conduct of Business rules, FSA had announced a ruling on excessive mortgage charges which exceed actual administrative cost to the lender mine definitely fall in to this bracket as the ones charged after 2011 are a lot lower. I now understand that such fees are unlawful at Common Law, Statute and consumer Regulations.

 

I do not feel any of the charges applied in the last six years are unlawful as they have been applied in line with your original agreement.

 

I agree with you on this part as there were not many charges in this period and the ones that were charged I would call a fair amount.

 

It's all charges before 2011 I've come to you about as that's when they were exceptionally high and what would be regarded as an unfair penalty and in breach of the FSA guidelines.

 

I have the full SAR here including borrowers notes and statements going back to 2006.

You will be able to compare what I was charged then with the few charges I had after 2011.

 

 

The individual cost of each charge differs significantly to the ones before 2011.

 

 

It also shows all the payments I made to get my account back on track. I'd like you to take all the above into account.

[cruzhughes]

Today's reply.

 

Thank you for your prompt response.

 

I still stand by what I have said. However, with that all said, I have asked the business if they are willing to refund some of the charges as a gesture of goodwill. As soon as I hear back from them I will come straight back to you and we can take it from there.

 

Can I still take this to a ombudsman before issuing a court claim?

[ericsbrother]

the clock starts when something becomes actionable and that can be when you knew that things were wrong, not the date of the wrong done to you

 

 

so if a SAR last year threw up the problem then you are 1 year into the time you can take action via the courts..

 

 

All of the penalties before 2011 will be recoverable under law applicable at the time so beware of using more recent consumer law.

 

 

Work out your figures exactly and tell them that this is waht you require to settle the matter and give them notice of how long they have to respond.

 

 

you dont have to go to the Ombudsman and if you do you cannot start ant legal action while they are considring it nor can you take things to them that have been looked at by a court

 

 

so think about the clock and if you have time yu can place the matter before the Ombudsmand but beware they cannot adjudicate on all matters so make sure that you are seeking a remedy they can order. If the matter is ouitside their remit it is straight to court.

[dx100uk]

charges and building ins are two sep things.

both can be reclaimed

 

the ins under mis-selling rules

 

the charges under mcobs.

[cruzhughes]

Can anyone tell me how I get copies of B3, C1 and C2. Land registry don't have them. In the SAR I can see one is for SPML and the other SPPLs charges can anyone explain this to me. I only have the one account with spml

Title Register.pdf