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Hi there

 

For nearly 2 years I have had a complaint about my mortgage company with the FOS.

My mortgage company were preffered, then accenden and now engage-

(although I settled the mortgage on April 2011.)

 

My complaint was mainly:

In 2009 after being made redundant I fell into arrears, 3 months worth.

I made an arrangement with them and was told as long as I stuck to the arrangement no further action would taken.

 

some months later I checked my credit profile on Experian and they had marked my mortgage account as being in default.

I was never sent a notice of default so had no knowledge of this.

 

Also I had asked to capitilise the arrears but I was told that as I was in a fixed period it would not be possible to do this until fixed period ended.

 

Also they were heavy handed with the charges on my account.

 

Today I have received a letter saying they ombusman have made their final decision and that the agree the default should stay in place.

 

They say I was offered the chance to capitilise the arrears but I declined, (why would I do this??)

They say engage have "notes" to prove this but this is a blatant lie.

 

They agree the charges were high and have award some refunds, about £500 and 8% interest.

 

I ended up selling the house because the situation was making me depressed and I now rent but it seems I have to now spend another 3 years waiting for this default to drop off the account.

 

I feel let down by the FOS for just accepting what this suspious company say.

 

I have 2 options, I accept the decision, take the money-(assuming I get it!) or I reject the decision and fight through the civil court.

 

I'm looking for advice on what I should do? My heart tells me to just take the money and move on but I'm so angry it just doesnt feel right.

 

Furthermore even though this was settled in full in april 2011 they still havent updated my credit file to reflect this, I have asked several times.

 

Any advice greatly appreciated.

 

Thanks.

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  • 5 years later...

Hi

 

Looking for some advice re making a claim for a missold/mis handled mortgage.

 

In 2008 I took out a mortgage with Preferred Mortgages on a shared ownership house.

I sold the house in 2011 because I couldn't cope with the pressure

 

consequently this lead to a breakdown and me and my children living with my mum for a while.

Since then I have been in various rented accommodation

Ive been unable to save for a deposit to get back on the ladder.

 

I'm thinking of making a claim for the following reasons:

 

I brought the house in 2008 when I was earning a basic of 28,500 and commission of approx 800-1000 per month.

I was very clear that the commission was in no way guaranteed.

 

Ive just received the SAR documents

I can see this was included in my earnings calculation.

This isnt a document I saw at the time, its an internal underwriting document.

By 2009 I wasn't earning commission due the crash and in May 2009 I was made redundant.

 

The main reason for my claim is due to the handling of my mortgage during my time as a customer.

 

I wasn't receiving commission

then was made redundant

I fell in to arrears which got to about £3800.00.

 

I had an arrangement and was charged numerous fees, eg late payment, arrears management, litigation, solicitors etc.

 

In December 2009 I was offered a new job to start in the January

I contacted them to ask if I could capitalise my arrears once I started my job,

I was told this would not be possible until the fixed term ended, (I now know this isn't true).

 

On the notes from the calls it states they said no because I completed an income and expenditure and had the capacity to make an arrangement to pay the regular amount plus extra to clear the arrears.

I have asked for recordings of the calls as they werent sent.

 

However either reason doesn't really stack up.

if I had capacity to over pay I also had capacity to capitalise the arrears thus bringing the account in to order,

and also meaning no more late fees and arrears management fees would be payable,

I asked this in December 2009 and again in Jan 2010.

 

Unable to cope with the worry I put the house on the market and I moved out in April 2011.

Shortly after this I suffered a breakdown and was on anti depressants and anti anxiety medication for some time.

 

If they'd capitalised the arrears as requested the monthly payments for not have been much higher

I would have been able to stay in the house

I was in secure employment with a basic of 40k

I would not have had any issues.

 

By not doing so kept me in this endless cycle of debt and endless cycle of fees being added

so that the arrears balance wasn't really going down at all.

 

I believe I have a strong case to ask to be put back into the position I would've been if they had capitalised the arrears and I'd not been forced to sell the house.

 

I was advised when taking the mortgage to go for interest only and use the proceeds from the eventual sale of the house to clear the mortgage at the end of the term.

Sounds stupid now but I took this as good advice.

 

In the SAR docs theres 2 forms called Borrowers Interest Only Declaration.

I recall signing and putting an asterisk next to 'By sale of property.

 

Then there is another of the same

this also has an asterisk next 'An investment vehicle'.

 

Whilst this is signed, I dont believe I place the 2nd asterisk next to that statement and believe this has been done after I signed it.

I had no investments and would not have been expecting to have any.

 

Do you think i have a hope in hell?

I'm not just trying to make money out of this.

I genuinely sold my home because of this and my life was hell for about 12 months after.

 

I was so depressed but thankfully my children kept me going.

And even though for a long time mentally Ive been ok,

I'm still suffering because I have to rent and have no long term security.

 

Honest, (nice), opinions welcomed.

 

Thanks for reading x

 

Anyone? Sorry I know its a bit of long post but I wanted to give all the background.

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" I was advised"

 

by whom?

if a broker you have a slim chance of getting somewhere,

other than that you may have a claim to recover any penalty charges applied to the account

and the interest applied to them because they are charges, not capital.

 

You stand no chance of being put "back in a position" that didnt exist,

if you had stayed there and had enormous cost added to the mortgage then that would be another matter.

they didnt repossess, you sold up and left

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The cost of having the arrears added to the mortgage wasn’t enormous by any stretch.

 

I was paying an extra £85 per month off the arrears but they were still adding fees and so the balance wasn’t really reducing.

 

If they had capitalised the arrears I would not have sold the house.

 

My complaint centres around the fact that they gave false reasons for not capitalising the arrears, proably because they wanted to keep me in arrears as this was quite profitable for them.

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Hi

 

My other post has had so many views but only 1 response so I thought I would ask a different question.

 

Has anyone ever sued their mortgage company? I don’t mean for arrears charges, I mean for mis- selling, negligence, outright lies that lead to detrimental decisions, etc?

 

I’m planning to! This site is full of appalling behaviour from lenders, especially sub-prime ones and yet they seem untouchable. I think it’s time this changed. I think if they’ve done something genuinely & knowingly wrong they should be taken to task.

 

I’ll keep you posted of my progress!

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I'm not aware that anyone has but have a look at MCOBS as an example of one way forward

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Not a mortgage company direct but their surveyors when taking out a mortgage.

Claimed lots of things that put a £5000 retention on it.

Like needed air bricks

Roof beams need replacing

No damp course

Etc etc.

 

My argument was how do you put air bricks in concrete floors.

How do you know it needs new beams.

It has a slate damp course.

 

Turns out thee only did a drive by inspection but I was charged for a full inspection including electrics and roof space.

 

Took, well threatened to take them to court.

Settled out of court.

£5000 retention lifted

£1000 compensation

Refund of fees.

Also complained about surveyor and he was struck off. ( many complaints)

Halifax stopped using that particular firm. They went bust 1 year later

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were they obliged to capitalise arrears?

I doubt it.

 

that is another problem with interest only mortgages.

What were you relying on to pay off that capital when it become due?

If you had nothing in place then they wouldnt be even slightly interested in adding to the long term debt as all it would do is create more problems for the future and you still wouldn't be able to pay them the money back.

That is somehting that was clealry highlighted by someone.

 

You have avoided saying who advised you to go for interest only

so this makes me think that this was unqualified advice and leave you with no-one to go after.

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No they were not obliged to capitalise the arrears

- I do not think I have suggested I think this.

 

I do believe they are obliged and in fact legally bound to act with honesty and integrity.

Furthermore they are obliged to make efforts to help someone in financial hardship.

 

They lied about not being able to capitalise the arrears and this lead to me thinking I had no option but to sell the house as I could not cope with things as they were.

 

My complaint is about the lie and the effect thereafter.

 

Sorry I missed your other point,

although you seem to think I avoided it!

 

I have to say you're very aggressive for someone giving advice.

 

I was advised by a broker to go interest only and worry about it when it came to end of the mortgage.

Although I had in the back of my mind that I would get straight and once my fixed term ended and I was able to I would move to a repayment mortgage.

 

Obviously that didnt happen.

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Is the broker still in business?

If so you start a complaint about the advice they gave and if that is upheld you may be able to go after them.

 

As for the rest,

why do you think you have a claim against a mortgage company that didnt do anything wrong.

They didnt lie about the capitalisation of arrears,

they werent obliged to and took a decision that you were a risk they didnt want.

they didnt decide to sell the house, you did.

 

The reason no-one else had added to this thread is you asked for nice opinions.

Well, that left others with nothing to say as it is clear you want us to confirm your opinions that than offering advice.

 

My advice is forget about suing the mortgage co, you will lose.

Try a formal complaint about the broker to the FCA and go from there.

 

It looks like you received bad advice

but whether that would have made any difference to your circumstance bearing in mind you fell into arrears anyway waits to be seen.

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It’s odd that you’re so adamant that they did nothing wrong

when I have stated they lied and have written proof of this.

 

Do you work on behalf of them?

Perhaps it’s your job to go on to sites like this and try to intimidate people so that they don’t pursue matters!

 

I will be pursuing, I may lose but I would rather that than not try.

 

No the broker is not in business anymore.

This is my last response on this matter.

I will however post my good news when I win!

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By not doing so kept me in this endless cycle of debt and endless cycle of fees being added

so that the arrears balance wasn't really going down at all.

 

any penalty fees are a separate sub account and cannot be considered part of your main mortgage arrears for repo or litigation purposes

 

 

Unable to cope with the worry I put the house on the market and I moved out in April 2011.

 

 

that's the reason why this all happened .

 

 

the investment vehicle is the future equity in the home upon sale and was allowed at the time

sadly this has since been tighten up on.

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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  • 1 month later...

I made a complaint to previous mortgage lender Acenden.

 

I send a SAR which they replied to v quickly,

 

I sent 2nd one asking for some missing info and again they replied but said they didn't have the info and so I proceeded to set up my complaint(s).

 

8 weeks later I got a letter stating they sold my account to Engage Credit

dont have any paperwork

I need to contact Engage

I cant refer the matter to the FOS as they haven't answered my complaint!

 

So my questions are:

 

The complaint is about how Acenden handled my account and therefore surely Acenden should answer it?

 

They sent me loads of documents in response to the SAR and so surely its not true that they dont have the information

 

I settled the mortgage before I even knew it had gone to engage

if the timeline is true

I had already exchanged at this point and their notes backup that.

Why would they transfer at that point?

 

I never had any dealing with Engage and was only aware of them when 6 months after settling my mortgage they registered a default against me!

 

This was removed after a fight....

 

Are Acenden just trying to be clever?

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When a company sells a debt or an account, they sold the rights to it – but they can't sell the duties.

 

This means that Acenden is still liable for the complaint. If they have sent you a letter saying that you are not entitled to contact the FOS then please post it here in PDF format.

 

It is a gross abuse for a company simply to say that as they haven't settled your complaint, – effectively refusing to give you their final response – that you are not entitled to go to the FOS.

 

Please post the letter here and also go directly to the FOS which you can do on the telephone and email them a copy of the letter.

 

You shouldn't have sent them a second SAR. The first one was good enough and if it was incomplete and they were in breach. You should include this as part of your complaint.

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nothing new here

they will pull every trick in the book to hide their appalling customer service and treatment.

 

why, may I ask, are you after the sar details for?

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Thanks for quick response.

 

I called them today as the 8 weeks were up yesterday

 

they said they posted the letter on Jan 17th

-I haven't got it.

 

i got them to read it to me!

They've promised to send recorded delivery

either the first one will turn up or the copy will arrive on Friday.

I will post as soon as it arrives.

 

I too think they have a cheek to say that and also to take 8 weeks to say that!

 

I sent the 2nd SAR because I asked for recordings and they just sent transcripts but said they no longer had the recordings when I asked again.

I cant really push this as they're no obliged to keep.

 

SAR details to support my complaint.

Just wanted to be sure I had everything in writing.

 

Plus I'm not saying they would but notes can be altered!

 

I once worked at a very well known company and a call handler once put really derogatory comments about a caller on the notes.

 

He was dismissed and the notes were removed.......

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yes I understand its obviously about getting paperwork about how they administered your account

else whats the point of the sar.......

 

what i'm trying to understand is WHAT are you complaining about

how have they done you over...

they and their cohorts Capstone/Acenden SPML/Preferred Mortgage

 

are all very much under the spotlight but be aware they are a VERY VERY hard nut to crack

 

and there are numerous 'other groups' that tout for money on the social media sites promising 'their group' has 1500 members and has a 'classact' going thru court now using various solicitors...we've not seen one ounce of truth yet any have ever gone near any court.

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Oh right!

 

If you search my posts you will find all the details!

 

I don't want to post the whole story again and also there are some people who don't think I have a claim

 

whilst I respect that view only I know what I went through,

 

I know I wasn't treated properly or professionally.

 

Added to which how many people have not pursued something because someone else told them it was a stupid idea?!

 

Companies like Acenden get to behave as they because no one takes them to task over it!

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8 threads merged on the same issue dating back to 2008.

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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8 threads merged on the same issue dating back to 2008.

 

dx

 

actually you're wrong... My very first message related to a previous mortgage.

 

Added to which I posted originally about the default which was actually removed as i continued to dispute.

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that's good then you got somewhere = thanks for updating us

 

the first merged thread has been return to live on its own...

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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