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DOC8207

Reclaim Excessive Mortgage Arrears Fees - Amber Homeloans

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Hi all

 

I had a mortgage with Amber Homeloans for approx. 8 years until 2017 and due to my own poor financial mismanagement, I incurred many fees for arrears, etc. Whilst I accept fault, given the time that has passed, is it still viable to pursue Amber for any excessive fees charged which were greater than the administrative cost to them?

 

I am about to request statements from them in order that I can collate a list of charges, but perhaps it's not worth my while?

 

Thanks.

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You certainly should claim everything you can.

 

Get the information you need and then come back here. You are probably better off sending them an SAR which should oblige them by statute to supply you with all of the information you require

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You certainly should claim everything you can.

 

Get the information you need and then come back here. You are probably better off sending them an SAR which should oblige them by statute to supply you with all of the information you require

 

Thank you. I will go ahead with the SAR and take it from there.

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You certainly should claim everything you can.

 

Get the information you need and then come back here. You are probably better off sending them an SAR which should oblige them by statute to supply you with all of the information you require

 

I went ahead with the SAR and received a large pile of paperwork in the post today!

 

I've been through all the transactions and the fees amount to the following:

 

30/04/2009 Monthly Arrears Fee £680.07

07/08/2009 Solicitors Costs £623.44

01/12/2009 Solicitors Cosrs £339.71

22/02/2010 Solicitors Costs £323.10

30/04/2010 Monthly Arrears Fee £650.00

10/08/2010 Solicitors Costs £70.50

14/10/2010 Agents Costs £58.75

30/04/2011 Monthly Arrears Fee £150.00

03/01/2012 Rtd Payment Fee £10.00

30/04/2012 Monthly Arrears Fee £50.00

03/09/2012 Rtd Payment Fee £10.00

01/11/2012 Rtd Payment Fee £10.00

30/04/2013 Monthly Arrears Fee £300.00

02/12/2013 Rtd Payment Fee £10.00

02/01/2014 Rtd Payment Fee £10.00

30/04/2014 Monthly Arrears Fee £150.00

 

TOTAL - £3,445.57

 

Where do I stand in terms of what can and cannot be potentially reclaimed (if anything)? I fully appreciate the arrears were my fault so it really comes down to a case of whether the fees were fair and proportionate.

 

The monthly arrears fees seem to have been applied annually and there's no breakdown as to how these were calculated on the transaction history.

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were you taken to court at any time?


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were you taken to court at any time?

 

No. Repossession proceedings did commence but were cancelled after I called them and agreed a payment plan.

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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

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I just tried to ask the template letter for mortgage arrears fees but don't have the necessary permissions. Do I need a certain amount of posts on the forum?

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nope

click the library tab top left

have you done the spreadsheet?


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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

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Just doing the CI spreadsheet just now. 2 questions:

- is the 'Claim to' date, the date the mortgage was redeemed?

- what do I put in the Interest Rate column when the rate varied over the claim period?

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you can only charge them at their int rate until the date they no longer charged it.

and you can use an avg.

 

it might pay you to use the statint sheet, this gets you flat rate s69 8% across the whole timescale till the date they settle.

 

dx


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

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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

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you can only charge them at their int rate until the date they no longer charged it.

and you can use an avg.

 

it might pay you to use the statint sheet, this gets you flat rate s69 8% across the whole timescale till the date they settle.

 

dx

 

Thanks. I've used the statint sheet as suggested.

 

Letter sent to Amber Homeloans today so now a case of waiting before taking next steps.

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Amber Homeloans have now responded to my letter of complaint.

 

I claimed for all Monthly Arrears Fees (£1980.07) plus 8% statutory interest (£1320.86).

 

They have stated that original fees are core terms of contract and and that they believe hem to be a reasonable estimate of costs incurred, listing activities that are involved with the administration of managing the account. However, as a gesture of goodwill they propose to refund £701.52 for arrears fees that were applied during months where a payment greater or equal to the contractual monthly payment. They state this is in no way an admission of liability on their part.

 

My thoughts regarding next steps are:

- I write to them to decline their offer

- Ask them to refund the full amount of mortgage arrear fees and 8% statutory interest

- Complete and include a copy of the Simple Procedure Courts Form for the Scottish courts to show my intentions

- If they then fail to pay out, I shall send the relevant paperwork to my local Sheriff Court to initiate court proceedings against them

 

Does this sound a reasonable course of action, or would I be better to accept their offer at this stage?

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Yes


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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

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Amber Homeloans have responded, advised they are not contractually obliged to justify how charges were incurred, and refused my claim for a refund of mortgage arrears and returned payment fees. 

I intend to now to make a claim via the 'Simple Procedure' in the Scottish courts which is the process to resolve disputes up to £5000.

I've read various accounts on the forum of how people have raised claims via the English courts and have borrowed some of the wording used by others. The Scottish 'Simple Procedure' is very straight forward and they provide a user friendly form to complete which is free of legal jargon.

Do my responses to the following questions look right in terms of raising this claim? My responses are in bold.

 

Q. What is the background to your claim. In this section you should briefly describe the essential facts about the story behind your claim. You do not need to set out every detail of the story. You should focus on the parts which are important for you to establish your claim.

A. I entered into a mortgage agreement with the Amber Homeloans Limited on or around X for the amount of £X. The Mortgage was settled on or around X upon the completion of the sale of the mortgaged property.
 
The mortgage was subject to the Unfair Terms in Consumer Contracts Regulations 1999 (UTCCR)
 
Amber Homeloans are statutorily bound by the Financial Services Authority Regulations - Mortgage: Conduct of Business Rules (MCOB) contained in the FSA Handbook, implemented under the Financial Services and Markets Act 2000
 
Amber Homeloans levied mortgage arrears fees and returned payment fees totalling £2030.07. These were added to the mortgage account and interest was applied.
 
The charges were levied at a rate which exceeded their administrative costs.
 
The level of charges were unfair because the breach the requirement of fairness contained in the UTCCR.
 
The level of charges is also unfair because they are the result of unfair treatment by Amber Homeloans and therefore levied in breach of their statutory duty to treat their customers fairly contained in MCOB (section 12.5)
 
For this reason, the interest charged on the unlawful charges is also unlawful.

Q. If your claim is successful, what do you want from the respondent?

A. I want Amber Homeloans to pay me:
- £2030.07(charges applied to my mortgage account)
- £1461.91 (compound interest on the charges applied to my account - calculated at average rate of interest between X and X
- £1330.88 (statutory interest at 8%)
- TOTAL - £4822.86
£0.43 additional statutory interest to apply each day until settlement of claim

Q. Why should your claim be successful?
A. These charges appear to represent an unfair term of contract which is contrary to the Unfair terms in Consumer Contracts Regulations 1999 (SI. 1999/2083) I believe their charges constitute an unfair penalty under Schedule 2 of Regulation 5 of the Regulations as they are disproportionately high fees. 
 
The charges levied far exceed any true cost to Amber Homeloans as a result of my breach and any genuine pre-estimate they could conceivably reach.
 
The Financial Services Authority have ruled that it is unfair and thus unlawful to apply charges which exceed the actual administrative costs incurred. 

 

Q. What steps have you taken, if any, to try to settle the dispute with the respondent.

A. I issued a letter of complaint to Amber Homeloans on 4th February 2019 asking them to refund all mortgage arrears fees including 8% statutory interest. I received a response on 16th February 2019 in which they declined to uphold my complaint, did not admit any liability, however, offered a goodwill gesture payment of £726.52. I declined their offer.


 
 
 

 

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I think I would add somewhere these two points.

all the charges were of a fixed sum penalty nature for being constantly in Arrears at the time each CMI payment fell breaking the published terms of their T&C's.

These charges and their inclusion in their T&C's can be challenged, as we can witness from the current PPI Reclaiming era and formerly the Bank Account charges era.

 

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

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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

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3 hours ago, dx100uk said:

all the charges were of a fixed sum penalty nature for being constantly in Arrears at the time each CMI payment fell breaking the published terms of their T&C's

 

Apologies for not understanding, but could you expand a little on what this actually means?

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T&C's state the level of arrears fees do they Not?


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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

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5 minutes ago, dx100uk said:

T&C's state the level of arrears fees do they Not?

Yes, apologies I think I just misread it first time!

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