Igroup/GE Mortgage + secured Loan + now Engage- beat GE Repo - now Engage Repo **WON** Want to reclaim charges

[Lea_HTH]

unless it is within the period of a court case that they latterly WON

they CANNOT add solicitors costs.

 

any fees, [arrears/letter/debt management visit etc etc]

can be reclaimed at theirint rate

 

That's not accurate. With mortgages the legal fees are part of the contract, and unless struck out by a court as unfair, then the costs remain - which means any litigation taken by the mortgagee is covered, from sending out letters from their legal department to their fees in court, whether or not they win or 'lose'.

[walmsley7274]

They are saying the 'loan re op payments' (aka as the charges) which they add each month on top of the CMI

are arrears as they can ask for them to be repaid at any point in conjunction with 8.1 and 8.2 of the contract.

 

The charges (including any interest) total amount stands at approx £4000 but I can't get a true figure until Ge provide me with the definitions I have asked for.

 

Of the £4000 they are saying that £2000 of them (which include charges, solicitor fees etc) are arrears which they are saying should have been paid at their request.

 

For example - CMI is 174 p/m and Ge add another 74 p/m to cover the charges accrued to ensure there is not a huge balance outstanding at the end of the term.

They say this is covered by the contract in 8.1 and 8.2. It is the 74 p/m which they are saying are in arrears.

 

I have been paying 200 per month which has resulted in the +156 on the CMI.

 

I have provided the judge with the arrears statement which clearly shows the CMI and the 'loan re op' as two separate items debiting my account.

I have provided a bank summary of the payments crediting the account have been made are more than the CMI.

 

So this case hangs on what GE have been adding on for loan re op payments.

 

Does that make sense?

My hearing is at 10:30 so we will see I'm really nervous though.

 

That's a good point pleasehelp me as the interest is huge portion of the total amount of charges so I would be interested to hear this.

 

Many thanks

[Pleasehelpme26]

And are they allowed to ask for it monthly? They say is so there's not a huge amount at the end. But personally I'd rather not pay monthly and pay it off when I have the funds available.....

[walmsley7274]

Clause 8.1 and 8.2 say they can ask for the charges to be repaid whenever they determine. Which is then when the charges are listed as 'loan re op' payments on your arrears statement. What they do is sum the entire amount of the charges divide it by the remaining term in the loan and then that is the additional payment they put on the account each month listed as loan re op. It is this which Ge are determining as arrears.

 

If the charges are representable of the cost then that is something I have to pay. However until the charges disputed then I don't want to be giving GE any more of my money, especially as they are not replying to my questions to of definition and breakdowns etc.

 

However how the judge views this tomorrow I don't know ?

[Pleasehelpme26]

Well good luck tomorrow

[Pleasehelpme26]

Clause 8.1 and 8.2 say they can ask for the charges to be repaid whenever they determine. Which is then when the charges are listed as 'loan re op' payments on your arrears statement. What they do is sum the entire amount of the charges divide it by the remaining term in the loan and then that is the additional payment they put on the account each month listed as loan re op. It is this which Ge are determining as arrears.

 

If the charges are representable of the cost then that is something I have to pay. However until the charges disputed then I don't want to be giving GE any more of my money, especially as they are not replying to my questions to of definition and breakdowns etc.

 

However how the judge views this tomorrow I don't know ?

 

How did you get on?

[walmsley7274]

Good evening ...

 

First off good news I got the suspension

 

However it wasn't easy, GE Money refused to accept any monies toward the arrears (which are loan re op payments) and wanted a full repossession. GE solicitors even had done a 'drive by' valuation to provide to the Judge

 

I think that was because I refused to give GE the authority to liaise with my main mortgage provider for details of my account from them.

 

Even so I pointed out to the judge this was also a consideration I had had to sell the property and obtained 3 valuations

and this would only cover my first mortgage which would mean GE would not re-coup anything anyway. That was very sneaky.

 

The judge was very understanding and said that I had given the most articulate defence he had seen by a lay person

and that convinced him of my determination to resolve this.

 

However, he said the loan re op was part of the contract and GE contractually can request these monies to be spread out to avoid a large balance.

He reaffirmed to GE representative although GE were unwilling to accept any payment proposals he was inclined to disagree.

 

He order me to pay £40 a month on top of both the Cmi + loan re op payments.

 

He said this would avoid me having further admin fees added to the balance and halt any further action GE tried to pursue because of the loan re op payments.

He said this would give me time to challenge the charges and if it was found in my favour the payments could be altered.

 

I was happy with this and will buy me some time to challenge the charges

and if it is in my favour I will have paid any monies off to GE quicker (I only have 50 months to go) I am pleased with that.

 

I have some further update on the definitions which GE representative put forward in court today,

which the judge was unhappy with because it hadn't been shared with me and he ordered a recess.

 

Even though GE representative was there for GE money,

the Judge said he had to be my advocate also and then onwards the representative was fine with me.

 

I'll post the definitions on my thread so I don't hijack yours.

 

Have you sent you charges letter off yet?

 

Best regards

[Pleasehelpme26]

Hello,

Well done you

What a sneaky thing to do doing a drive by!!

No I haven't yet, too many children in the house to concentrate!! I'm going to do it next week.

I will go and find your thread.....

Well done again

[walmsley7274]

I know what you mean about too many children in the house, i'm glad to be back at work today.

[dx100uk]

That's not accurate. With mortgages the legal fees are part of the contract, and unless struck out by a court as unfair, then the costs remain - which means any litigation taken by the mortgagee is covered, from sending out letters from their legal department to their fees in court, whether or not they win or 'lose'.

 

 

thank you lea. noted good info.

 

dx

[ukaviator]

Pulled me up as well the other day. I need to make sure I don't have too many threads open it gets confusing. Good job Lea is watching...

[Lea_HTH]

Sorry guys, it's not about pulling anyone up

- I, like you probably do, think it's important that people have accurate information

so they don't feel cheated when they get into court and hear the judge say something different.

 

The judge does have the power to order no costs to be added to the mortgage

or the security IF he believes the proceedings were not necessary..

 

.at that stage, if the costs are added, the mortgagor can ask for them to be removed by waving the court order.

 

Otherwise the mortgagee's court costs can only be challenged if they are over the top.

..e.g £6-800 for a hearing is about fair, more and they are verging on over-charging.

[Pleasehelpme26]

Hello everyone,

Hope you are all ok.

Just to update you all..... Everything is still plodding on.

We are paying the cmi plus the £90 Ge charges bit plus the £250 towards arrears.

 

We are also paying the cmi on the secured loan, plus £65 ge charges plus £100 off of arrears.

 

Meeting the payments are fine, we have done Nov, Dec and Jan and will also pay Feb before back in court in early March.

 

I've done letters to reclaim charges,

got the financial ombudsman involved as to how the arrears were handled and requested all telephone conversations transcript .

 

As in January last year, I was told the arrears were high, but as we have ages to go on mortgage, that could be rectified.

 

Also shelter are involved as they are surprised the judge has asked us to pay a bulk of the arrears as well as a monthly payment. Have I forgotten anything?

Your help, as always is greatly appreciated

[harris1997]

Hi, good to hear all going well.

 

I have also put in a letter for my charges also with a complaint letter. I would be interested to know what Fos say regarding the handling of arrears. I will need to wait till 8 weeks has passed before I can go to the fos.

[Pleasehelpme26]

Hi, good to hear all going well.

 

I have also put in a letter for my charges also with a complaint letter. I would be interested to know what Fos say regarding the handling of arrears. I will need to wait till 8 weeks has passed before I can go to the fos.

 

Hello

I take it you've not had any response yet?

Well I first raised the points back in November and they offered me a small refund ' as a gesture of goodwill' I since written to them requesting everything back except the solicitors fees . I've also sent all off to the FOS.

Let me know if you hear anything .

I had a meeting with Shelter today, who were fab, but I'm fed up with all this hanging over me.

Nice to hear from you x

[harris1997]

I received an acknowledgement letter to say they are looking into the issues i have raised, so it is just a waiting game now!

 

Keep plodding on till you get it all sorted and I know it is such a strain, but hopefully it will turn out in our favour!

[Pleasehelpme26]

I hope it will Keep in touch xx

[Pleasehelpme26]

Hi all,

Just wondered if anyone is around to offer advice?

I'm claiming back my charges from ge, the charges total approx £7000. £2700 are solicitor fees, this morning they have offered me £2250 as a refund. They say the other charges cannot be refunded and have advised I contact the cab. They say their charges are fair and because my mortgage is unregulated there is nothing they can do. I don't believe a word of this and was looking to reclaim approx £4000. Any advice would be appreciated. Many thanks.

[dx100uk]

you cant sadly reclaim solicitors fee

 

so how does the CISHEET with all the other charges look

[using their int rate in cell d15]

 

compared to what they are offering?

[Pleasehelpme26]

Hello, not too sure what that means :/

 

The total charges inc additional interest are £10,650.36,

without add int is £7401.99.

 

The solicitors fees total £3164.19,

the remaining £4237.80 are the charges

I would like to reclaim.

 

They have offered £2255 today, that leaves £1982.80.

 

The chap who called today wasn't even aware that I'd been offered any refund until I pointed it out to him.

 

I have until 14.02.14 to accept.

 

Thanks for your response

[dx100uk]

take the solicitors fees out of the spreadsheet that has calculated that £10k figure

 

then that will be your charges claim.

 

dx

[Pleasehelpme26]

Ok, so I decline their offer in the meantime?

Thanks

[dx100uk]

check your figures first

 

did you actually do the CISHEET?

 

dx

[Pleasehelpme26]

Ok will do. And yes, thank you

[northernbloke]

Hello, not too sure what that means :/

 

The total charges inc additional interest are £10,650.36,

without add int is £7401.99.

Do you know what the difference is between "interest" and "additional interest"? I asked them and could not understand what the person said due to his strong foreign accent.