anyone successfully re claimed against an interest only mortgage sold by a broker for SPML?

[D.J.F.]

Hi kaz320, I have just written out a long winded message detailing where I am upto, only to be told I don't have a high enough score to send it to you and then it was lost. Pretty infuriating but there you go.

 

I have an interest-only mortgage with Spml/ascenden/capstone. it was sold to me by a broker in 2005 for 92k. it now stands at 98k.

 

What can you tell me about mis-selling of mortgages of this type?

 

Do you know of cases that have been successful?

 

How do I go about it?

 

I am going to be chasing them for charges also, but this is a seperate issue

 

Any help greatly appreciated.

 

Regards,

 

D.J.F.

[kaz320]

Hi

 

Do you have the original paperwork? Mortgage mis-selling claims are fairly new at the moment but cases have been won. Quite a few brokers have actually gone out of business now which means those claims have to go to the Financial Services Compensation Scheme which takes considerably longer but as your broker is still trading the claim should take a maximum of 8 weeks.

 

The paperwork is the important issue here and if you don't have the paperwork it can be obtained. This type of mis-selling has been going on for a long time but has only just recently been brought to people's notice.

[D.J.F.]

Hi, I will have some paperwork, but yes, as you say, I can obtain anything I don't have.

What are the grounds for mis-selling.

Who is the claim against?

The broker? or the lender?

Do I need a solicitor or do i do it alone?

 

Sorry for multiple questions.

It's taken a long time for anyone to answer anything on this subject

 

Regards,

 

DJF

[kaz320]

Hi D.J.F.

 

For a mortgae mis-sell the claim is against the broker or the lender who directly sold you the mortgage. Solicitors are not required for this process but some mortgage knowledge is essential and some knowledge of the MCOB rules (mortgage conduct of business rules) which identifies the actual point of the mis-sale.

[D.J.F.]

Hi Kaz, Could you re-send your message to me please? I'm having problems responding to it.

Many Thanks,

Dan

[D.J.F.]

Hi, Has anybody heard of anyone successfully claiming against an interest only mortgage sold by a broker for SPML? somebody on here said they could assist me with this or point me in thr right direction but disappeared. Can anyone help?

 

Also, anybody give me a clue on how to pursue excessive charges on loans and mortgages?

 

I have various loan agreements, and a mortgage with Spml. I manage all of my agreements but only just, and only after severe problems in the past. I know I have been subject to excessive charges on all agreements.

 

I have also had another house re-posessed from me around a year ago for mortgage arrears of 3k.

 

My question is:

If I can get my present loan/mortgage companies to admit unfair charges, and possibly (in the case of SPML) mis-selling, and also show that the mortgage with the company that repossessed my house had PPi attached to it, would I then have grounds to take them to court for the loss of my house and subsequent shortfall bill of 50k?

 

all help greatly appreciated.

[D.J.F.]

Hi, Has anybody heard of anyone successfully claiming against an interest only mortgage sold by a broker for SPML? somebody on here said they could assist me with this or point me in thr right direction but disappeared. Can anyone help?

 

Also, anybody give me a clue on how to pursue excessive charges on loans and mortgages?

 

All help greatly appreciated

[dx100uk]

you can certain reclaim PPI & PENATLY charges

 

but the rest i think not.

 

looks like you've already used a CMC to do it?

 

dx

[D.J.F.]

Thanks dx, forgive my ignorance but what is a CMC?

 

I do keep hearing that there may be grounds to claim against a mortgage of this kind and against that company in particular but nobody seems to be able to expand on it.

I have various companies hounding me on the phone claiming they can certainly help but I expect they're just looking to make from me.

 

Regarding ppi and charges. I have loads of charges as believe I could have many successes in claiming them back from about 5 different lenders including one that went on to repossess a property of mine. Could it be that if all this companies admitted and agreed to unfair charges that I could blame them for the loss of my house? It was repossed for arrears of 3k. I can demonstrate that any of my creditors have charged me at least that in charges. Some of them would be that much in only 1 year..!

 

Thoughts?

[dx100uk]

cmc claims management company [ppi [problematic]]

 

i doubt you could use the 'mass' of PENALTY charges to overturn your repro

 

though if it was the mortgage companies PENALY charges to that point

you MIGHT have a chance.

 

dx

[Crapstone]

I claimed back all the charges from them and went through the FOS. It wasn't interest only but I did fight them when they tried to repossess. Get every bit of info. you can. SAR them and calculate everything. Do it twice if need be as they don't always blank out the same bits.