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SPML reclaiming unfair redemption + other charges

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I wanted to find a better rate from my old mortgage provider SPML and requested a early repayment statement at the begining of January 2007.

 

 

I was charged £15 for this which I accepted as I would use this to source a new provider and paid this charge with my Febuary payment.

 

I enquired about getting a remortgage via the internet and was contacted by a company called Total Mortgage Solutions, who sent a representative to my home to discuss figures etc.

 

 

I showed the early redemption statement I had received from SPML, which was days old.

I did sign forms with this rep, but was told these would only be actioned should I want to take out the mortgaged offered.

 

 

2 days later I was contacted by a surveyour who wanted to come out and value my property.

I declined this visit as I did not want to go ahead with the offer as I had sourced a better mortgage offer from the Woolwich.

No appointment was made and no visit occured.

 

 

I also contacted Mortgage Solutions and informed them of my intention not to take up their offer.

I eventually remortgaged with the Woowlich and payment was made to SPML on 30/04/2007.

 

On 02/05/2007 I received a direct debit faliure notification from SPML with a charge for £25.00.

On 03/05/2007 I received my quartelry statement from SPML, on this were numerous charges and

 

 

I am just so confused if these charges can actually be applied?

5x £15 for redemption statements requested by mortgage solutions and £55 for deeds release fee requested by mortgage solutions ltd and SPML apparently sent this to their solicitors.

 

 

My statement also says I am in credit by £604.68.

Should this money be returned to me?

Please anyone PLEASE PLEASE help me.:???:


SPLASHIN ;)

 

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Hi Splashin

 

Couple of questions:

 

I presume the charges are for the previous quarter...where you sent any correspondance from SPML about charges being applied?

 

What are the charges for......does it say?

 

How much are the charges for?

 

The deeds release fee is correct and this is the fee you will pay for this, however if you look at your contract it will give the figure on there fo you to check against.

 

What dates where the redemption quotes....if they are after you informed Total Mortgage Solutions then you should be refunded the money by Total not SPML. So write a letter to them asking for the refund, giving them 14 days to refund you the money, and enclose a copy of any evidence you have to support your claim (do not put originals of anything in the letter and sent it recorded delivery so you have proof of its delivery)

 

If the charges are penalties then you can apply for these to be refunded by following the process found in the mortgages forum.

 

With the credit, this should be sent to you without delay, and by writing a letter to SPML and requesting this within 14 days should rectify this for you.

 

Hope this helps


All advice is based on my experiences. I am NOT qualified and as such cannot be held responsible for any mistakes. If in doubt...get professional help.

If you like what i have said then make me a star!!

Some helpful links

I have been successful in many cases..here are links to some

Housing Act and deposits: http://www.consumeractiongroup.co.uk/forum/showthread.php?266260-Deposit-being-withheld.-Please-advise&highlight=

Against Natwest: http://www.consumeractiongroup.co.uk/forum/showthread.php?278646-N-west-v-Mrsfoot-s-Son.-***WON_ALL-CHARGES-REFUNDED***&highlight=

Against Swift Advances: http://www.consumeractiongroup.co.uk/forum/showthread.php?46576-Me-V-Swift&highlight=

Against B&Q: http://www.consumeractiongroup.co.uk/forum/showthread.php?172878-Me-vs-B-amp-Q&highlight=

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Mrs Foot

Thanks for your response, my son was rushed into hospital today with appendicitis. I will be able to answer your questions, but just not today. Thankyou again for your help.

Splashin x


SPLASHIN ;)

 

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Taxcreditoverpayment@blueyonder.co.uk

 

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Hi Mrs Foot

Thanks for your reply to my thread. I have the answers to the questions you asked me.

The statement I received on the 05/05/07 was for the period 03/02/07 to 02/05/07. I was not sent any correspondance from SPML about the charges being applied. My statement reads:

Balance at 02/02/07: £63,857.78

Credit at 02/02/07: £604.68 Credit

 

Bal B/forward 604.68 Credit 63,857.78

01/02/07 Unpaid D/D 526.69 526.69DR 64,384.47

03/02/07 Intrest Rate 9%

05/02/07 Unpaid D/D fee 25.00 64,409.47

06/02/07 Payment by Debit Card 551.69 63,857.78

06/02/07 Overpayment Alloc Debit/C 551.69DR 64,409.47

19/02/07 Early Repay State fee 15.00 64,424.47

26/02/07 Admin Fee 55.00 64,479.47

01/03/07 Int Rate Change 9.28%

01/03/07 Int Charged 482.42 64,961.89

01/03/07 Payment Due 526.69 64,961.89

01/03/07 Payment by D/D 526.69 64,435.20

01/03/07 Unpaid D/D 526.69DR 64,961.89

02/03/07 Unpaid D/D fee 25.00 64,986.89

02/03/07 Fee Reversal 25.00CR 25.00CR 64,961.89

05/03/07 Payment by D/Card 551.69 64,410.20

05/03/07 Overpay Allo D/Card 25.00DR 64,435.20

06/03/07 Early Repay State fee 15.00 64,450.20.

01/04/07 Int Charged 498.83 64,949.03

01/04/07 Adjustment 0.19CR 64,948.84

01/04/07 Payment Due 540.09 64,948.84

01/04/07 Payment by D/D 540.09 64,408.75

02/04/07 Early Repay State Fee 15.00 64,423.75

16/04/07 Adjustment D/D 25.00DR 64,448.75

16/04/07 Overpayment by D/D 25.00 64,423.75

17/04/07 Payment by D/D 15.00 64,408.75

17/04/07 Overpayment Alloc D/D 15.00DR 64,423.75

01/05/07 Int Charged 498.41 64,922.16

01/05/07 Payment Due 540.02 64,922.16

01/05/07 Payment by D/D 540.02 64,382.14

01/05/07 Unpaid D/D 540.02DR 64,922.16

02/05/07 Unpaid D/D fee 25.00 64,947.16

Balance Carried forward 64,947.16

Summary

Balance at 02/02/07 £63,857.78

Total Charged £ 1593.81

Total Paid £ 1066.78

 

Balance at 02/05/07 £64,947.16

Total Due £ 1593.81

Total Paid £ 1066.78

Arrears at 02/05/07 £ 537.03

Early Repayment Charges apply as follows:

Based on balance as at 02/05/07

4% or £2,597.89 until 03/11/07 then

1% or £ 646.85 for remainder of term

Bal as at 02/05/07 £64,947.16

Early Repay Charge + Deeds Release Charge £ 140.00

Early Repayment Charge £ 2,597.89

Intrest Due to 02/05/07 £ 202.95

Total Required to repay as at 02/05/07 £67,888.00

 

I settled the account on 30/04/2007 and paid SPML £68,206.62 so charges after 01/05/07 should not apply. I have spoken to SPML on 3 occasions asking for my credit to be paid back to my account and each time they say they will but then don't come across, giving excuses like there was a computer error, I don't know why the last advisor never put it through, but I will make sure the finance team get the instruction today BLAH BLAH BLAH.

With regards to Total Mortgage Solutions I have spoken to them regarding the E/R/P statements and requesting the Deeds from SPML and the chargs I occured from this when I only got a quote from them and never went ahead with any mortgage offer. They its is not their charge it is SPML who needs to repay the charge. SPML say it is Total Mortgage solutions repayment. AAAgghhhhh!!

Also my quartley state from 03/05/06 to 02/08/06 shows early repay charges like this:

5% or £3,235.47 until 03/11/06

4% or £2,581.27 until 03/11/07

1% or £639.28 for remainder of term

 

Balance as at 02/08/06 £64,709.00

Early Repay +Deeds Release Charge £ 190.00

Early Repay Charge £ 3,235.45

Int due to 02/08/06 £ 388.79

Total required to pay as at 02/08/06 £68,523.24

 

On the original contract fee were to be charge at

Deeds release Fee £40.00

Redemption Admin Fee £150.00

Redemption State fee £15.00

 

No charges were stated for £55.00 Admin Fee which has been applied.

Also on example of statement (sent with each quarterly statement) it states that Repayment Statements - will not charge for 1st statement but 2nd and any subsequent requests will be charged for at the rate of £10.00.

Hope this helps, I know it is a bit long winded but I thought the more you see the better advice you could give. I am also still getting letters about unpaid D/D dated 15/05/07. What should I do?


SPLASHIN ;)

 

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Taxcreditoverpayment@blueyonder.co.uk

 

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Just spoken with SPML and they state the credit due to me will be in my account by close of business today. They PROMISE!!!!

We will see eh!!!


SPLASHIN ;)

 

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Taxcreditoverpayment@blueyonder.co.uk

 

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I think you have done well. Are they refunding all of what they owe including the charges that should never have been applied?


All advice is based on my experiences. I am NOT qualified and as such cannot be held responsible for any mistakes. If in doubt...get professional help.

If you like what i have said then make me a star!!

Some helpful links

I have been successful in many cases..here are links to some

Housing Act and deposits: http://www.consumeractiongroup.co.uk/forum/showthread.php?266260-Deposit-being-withheld.-Please-advise&highlight=

Against Natwest: http://www.consumeractiongroup.co.uk/forum/showthread.php?278646-N-west-v-Mrsfoot-s-Son.-***WON_ALL-CHARGES-REFUNDED***&highlight=

Against Swift Advances: http://www.consumeractiongroup.co.uk/forum/showthread.php?46576-Me-V-Swift&highlight=

Against B&Q: http://www.consumeractiongroup.co.uk/forum/showthread.php?172878-Me-vs-B-amp-Q&highlight=

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Hi Mrs Foot, thanks again for your support and your response to my exceptionally long post, sorry for waffling! Going to keep this a clear a possible, because I even confused myself on the last couple of posts. Update on SPML mortgage account. I closed this account on 30th April 2007, paying them nearly 8K more than I initially borrowed to do this, I only had another 6 months to go on the 3 year deal. Anyway my account was showing a credit of £609.00 on 04/05/07, so I contacted them and they confirmed that my account was in fact in credit, I asked for them to pay this money into my account, they said they would and it would take 2-3 working days. I waited, no payment, I contacted them again to find out why. 1st it was a computer error why the payment hadn't gone in and they would issue it again that day which would take YET again 2-3 working days. I waited. No payment went in, called them again and spoke to the same advisor I had spoken to last telephone call, she couldn't understand why it hadn't gone in, put me on hold to speak with the finance team for a reason. The explanation from her, was the request had been sent and was now in the hands of the finance team who would put it in my account by close of business, that day. :x I asked her if this was the truth, because I was sick and tired of being told it was happening and waiting to find out it hadn't. I would much prefer it if she just told me the truth!!! Even if the payment was going to be made in 3 days or 1 week or 14 weeks I just wanted to know. She told me by close of business that day was the truth. She must have a tongue as black as the grate because it never went in to my account. So I phoned everyday 5 times a day, writing down names of each person I spoke with, time and date and what they said. In the end they couldn't give any more excuses because they had exhausted them all. The £609.00 went into my account on 25/05/07.:D This was just the credit left on my account. I haven't even began with claiming the excessive charges they applied over the 2 1/2 yrs. It seems such a big task ahead, but I am going to look at it this way, if at first you don't succeed try, try again. I am going to get all my paperwork together to make a start. Can I sent them subject data requseting all transactions, statements etc? Any help will do thanks.:-|


SPLASHIN ;)

 

Top Link Checkout

Taxcreditoverpayment@blueyonder.co.uk

 

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