Gmac mortgage charges reclaiming

[wishboneash]

Hi my mortgage was with gmac from 2001 to 2009 hit with dd charges and late paments 50 pounds a month these were added to mortgage arrears

i calculated at least £3500 in charges what can i claim back plus interest

[wishboneash]

hi would like to that from gmac 2001 to 2009 i had to jump ship from gmac because interest was a crippling 10% percent as dd and £50 were being added to arrears

[Blossomandebony]

Hi Wishboneash

 

You can claim back all arrears charges plus an estimate of what interest they added to the charges. I always estimate myself but there are online calculators that can reckon up the interest for you.

 

As your charges go back to 2001 it is likely that the interest they have taken - at 10%!!! - will total as much if not more than the charges themselves. Trouble is, if you put a claim for over £5000 it may be allocated to the fast track court which is too risky in terms of your possible costs.

 

So claim for a set period of time which will mean your claim stays within the £5000 barrier. You can claim the rest another time!!

 

Eg.

 

Charges 2001 - 2004 = £2000

Interest = £2950

Total claimed = £4950 (this is a fictitious calculation, by the way!)

 

At a later stage, you claim for the period 2004 - 2009.

 

BAE