SPML/LMC anyone claimed for mis selling and unfair charges?

[Suetonius]

Good Morning Eagleforms,

 

I have been charged £2400 for fees (Litigation, unpaid direct debit fees, arrears management fees etc) since 2003. I have also been charged £1200 in legal costs. How do I go about getting the fees back?

 

I have an arrangement to pay £100 a month off the arrears which I have been doing since 2007 when the arrears were £3200. They are now £2400, despite paying £3000 against the arrears.

 

For 4 of the 5 months until May this year, they have charged me £115 litigation management fees, despite the fact that I have not missed a month's payment or arrears payment. I have complained and asked them to justify the charges and to give me the breakdown of the £115. They have simply said I was a few days late paying the monthly mortgage and therefore was charged. No attempt to give the breakdown of the £115 fee.

 

Is the next step the FOS or the OFT or both?

 

Depending on the details of your loan, you could try the FOS route, for no other reason than it won't cost you anything to try.

 

I have attached a template form you could personalise to suit your requirements

Edited August 28, 2010 by Suetonius

[Suetonius]

Good Morning DanDesperate,

 

Before it gets anymore complicated I have had a SAR and added up the charges.... what is the "contractual interest" and how do I work it out..... do I ask for it or not ?

 

The contractual interest rate is the interest rate you are paying.

 

For example if you had a mortgage with a fixed interest rate of 5%, that would be your contractual interest rate.

Edited August 28, 2010 by Suetonius

[frettful38]

Good Morning Fretful

 

 

 

Is Blemain or Cheshire named as the lender on your agreement ?

 

Hi SUE, hope your doing well. Blemain Finance Ltd are named on my agreement and on the Land Registry register.

[Suetonius]

I am doing good thanks Fretful, I hope your battles are not getting you down to much..

 

it sounds like the correct company (based on what I have read in your posts) is named on the agreement and the land registery

 

Blemain Finance, Cheshire Mortgage Corporation and Lancashire Mortgage Corporation are all part of the Blemain Group.

 

Blemain is a second charge (secured loan) and a bridging finance lender

Cheshire is a First charge (residential) and a bridging finance lender

Lancashire is a First charge (commerical) and a bridging finance lender

 

As you have a second charge, the lender and the registered charge holder should be Blemain

[frettful38]

I am doing good thanks Fretful, I hope your battles are not getting you down to much..

 

it sounds like the correct company (based on what I have read in your posts) is named on the agreement and the land registery

 

 

Thanks SUE, thought if you don't ask you don't get. Just trying to gather as much as info as I can. I already have a list as long as my arm. Would have been great if something could have come from this but no matter. Onward and upward I say.

 

It was just that Blemain stated that they were an introducer of Cheshire and that Blemain state that they are not regulated by the FSA.....but I believe that Cheshire are regulated by the FSA. I was trying to make some kind of connection that Blemain would also come under the FSA rules because Cheshire....what a bummer guess I was wrong.

[frettful38]

I was reading this story yesterday and found it very interesting and I don't see any follow up or what happened after this

 

http://www.thisismoney.co.uk/mortgages-and-homes/article.html?in_article_id=478579&in_page_id=8

[MARTIN3030]

I cant find anything either,although have seen adverts for her B&B business-which looks to be still going.

Maybe the legal action was settled with confidentiality agreements in place ?

[eagleforms]

Many thanks Sue

[eagleforms]

Good Morning Eagleforms,

 

 

 

Depending on the details of your loan, you could try the FOS route, for no other reason than it won't cost you anything to try.

 

I have attached a template form you could personalise to suit your requirements

 

Unfortunately can't open template form.

[eagleforms]

Because of the very strange editing that has been going on on this thread, most of the regular CAG'ers have migrated to another site. This also appears to have had trouble from the site management, but that seems to have been resolved for the moment. It looks like there is some heavyweight organisation that is scaring the managements' wits out of any site that deals with Capstone and its derivatives.

 

It would be good if one of these sites had the courage to let it be known what is going on and what threats they have been making. Bringing it into the open might well bring whoever it is up short, and we can maybe start to put pressure on them.

[eagleforms]

I have been notified by email that "The Attorney General" has posted a template letter on this thread for me, about a complaint to the FOS reclaiming charges. It isn't here. Has it been blocked by the site team, and if so, WHY? If not, where would it be?

 

Couldn't open Sue's template letter either, WHAT IS GOING ON?

[Suetonius]

Hello Eagle,

 

I have been notified by email that "The Attorney General" has posted a template letter on this thread for me, about a complaint to the FOS reclaiming charges. It isn't here. Has it been blocked by the site team, and if so, WHY? If not, where would it be?

 

Couldn't open Sue's template letter either, WHAT IS GOING ON?

 

"The Attorney General"'s template is indeed a reproduction of the one I have previously posted on CAG. I use Office 2010, so I am not sure if this may be creating some problems which prevent you from opening it. I know that others can and have opened it.

 

However, I will cut and paste the relevant sections below.

please tell us what your complaint is about

My complaint is about the excessive and unfair fees and charges applied to my mortgage. I consider the application of these charges and fees clearly demonstrate that my lender treatment of me has not been sympathetic or positive and incompatible with ‘Treating Customers Fairly’. I also consider that the application of these fees and charges is in clear breach of the requirement of MCOB.

 

What do you want the business you’re complaining about to do, to put things right for you?

 

To resolve my complaint, I require a full refund of all of the additional charges and fees, including but not limited to late payment charges, monthly administration fees and litigation fees that have been applied to my account.

 

In addition I require a payment equivalent to interest at 8% simple from the date each fee and charge was applied to my account until the date of refund.

 

Taking into consideration recent events with regard to the Financial Services Authority, GMAC and Kensington Mortgage, I also request an additional award in recognition the additional distress and inconvenience caused by my lenders breach of DISP 1.4.3. My lender should have reasonably have known that my complaint would be upheld by the Financial Ombudsman Service and therefore should have taken steps to resolve my complaint at an earlier opportunity.

 

Please give us any other details that you think will help us understand your complaint

 

I would like to take this opportunity to draw your attention to the enclosed ‘Final Notice’ issued by the Financial Services Authority (FSA) the regulator of the finance industry. My lender breached Principle 6 during the Relevant Period in that it failed to pay due regard to the interests of its customers and treat them fairly.

 

They applied certain charges to my account that were unfair in that they did not accurately reflect the actual cost of administering an account in arrears. They had not arrived at a cost-based approach to the calculation of its arrears charges and therefore could not be sure that they were reasonable compared to the actual cost incurred. (if a FSA regulated agreement add) Therefore, my lender is in breach of MCOB 12.4.1R.

 

I consider all of the additional charges and fees applied to my account to be unfair as per the Unfair Terms in Consumer Contracts Regulations 1999 because they did not accurately reflect the additional administration work to the mortgage account caused by the fact that I was in arrears. I also contend that by applying these charges and fees to my account my lender has also not met its treating customers fairly (TCF) obligations.

 

I would like to also take this opportunity to draw your attention to the following

 

“ Elsewhere, the present debates about bank charges and the previous action of the OFT on credit-card charges are also relevant. We have already seen some customers raise queries about the level of charges made by lenders when they are in debt. The Citizens Advice report suggests that some lenders’ debt-collection practices are distorted by including steps that involve the customer paying additional fees. The range, complexity and level of these charges may all be matters for consideration. But the central question that will no doubt be raised increasingly with the Ombudsman is whether or not the charges levied are lawful. More generally, as my earlier brief example of the mortgage arrears fee shows, the application of extensive fees for customers already experiencing debt problems may not be fair treatment. Certainly it does not always sit well with the sympathetic and positive treatment of those in hardship.”

 

Source: speech by Tony Boorman, decisions director and principal ombudsman, at the CML's complaints-handling seminar –London, 12 March 2008.

 

Lesley Titcomb, FSA Director responsible for the Mortgage Sector, also said

 

“As our data shows in these current market conditions more people are struggling to meet their mortgage payments and it is vital that firms treat them fairly. This means paying attention to their individual circumstances and not repossessing their homes when there may be an alternative solution. Repossession has to be the last resort. The FSA’s programme of actions to address the problem areas, includes a closer examination of charges, in particular the circumstances in which these are levied, and whether they are compatible with Treating Customers Fairly”

 

Source: FSA reiterates call for firms to treat customers fairly in current market conditions - FSA/PN/087/2008 - 5August 2008

[Suetonius]

I would suggest including copies of the final notices from the FSA to GMAC and Co with your complaint. Remember to personalise it as much as you can to avoid template responses to template complaints

[eagleforms]

Many thanks Sue. I am using windows 7 so I don't know whether there is a compatability problem.

Eagle

[peterjm]

because of the very strange editing that has been going on on this thread, most of the regular cag'ers have migrated to another site. This also appears to have had trouble from the site management, but that seems to have been resolved for the moment. It looks like there is some heavyweight organisation that is scaring the managements' wits out of any site that deals with capstone and its derivatives.

 

It would be good if one of these sites had the courage to let it be known what is going on and what threats they have been making. Bringing it into the open might well bring whoever it is up short, and we can maybe start to put pressure on them.

 

i subscribed to this thread yesterday evening to find out information and help as to my sppl secured loan and its apparent transfer,how it may affect me as i now have a live dispute with capstone,i am worried if sppl disappear will my claim against them die.? This post,my first has now been removed without explanation. Is it now impossible to get any answers here,why is the fact that sppl transferring legal titles being silenced here by the management. Please can an explanation be offered ,my post reinstated so i can receive replies to my questions and enter into debate about what is happening. If the other lenders follow the same course as sppl this is of major significance to thousands. This draconian style of management is not worthy of a site calling itself the consumer action group,where do i complain and who to. What was wrong with what i posted? Please can anyone post some answers?

[JonCris]

People should really log on when reading this thread cos if you don't they appear as a 'guest'

[eagleforms]

Don't worry EiE, we who have been around a while know who you are and we also know who Ryde is. We also know that both you and Ryde have made a significant contribution to this thread - unlike other ball-like creatures.

 

What is more interesting is the question of the missing posts like Pete's and one I had from Attorney General.

 

The mods have been unusually quiet during this exchange of views, unlike when ITBG? was going strong.

 

I still think that someone has nobbled the mods on this site and it would be a relief to hear from one of them to reassure us that this isn't the case and to tell us the reason why posts here are being edited.

 

Come on, someone have the courage to respond or are you too busy bowling no balls?

[brassed-off-2]

And talking of balls, bouncing or not!!!

has anyone seen the capstone site of lenders tarriffs

May be they have thrown their balls away to the fos:eek:http://www.capstonemortgageservices.co.uk/capstone/customer/Tariff.aspx

 

and have a look at this one too....http://www.freshfields.com/publications/pdfs/2010/Aug10/28598.pdf

Edited August 30, 2010 by brassed-off-2
air head moment

[Crapstone]

Haven't been here for a while but nice to see the old faces back and posting! Not so sure about a certain newbie trying to stir though..best not go there and let them get bored when they see that they aren't worth the effort. I'm sure we know by now who is who and as long as they are fighting our corner, I'm not complaining.

 

A couple of people asked how to start the ball on reclaiming their charges. I'd suggest you send an SAR, more than one if you can as they will no doubt be edited differently allowing you to fill in the gaps. Add up all your charges and go through everything with a fine tooth comb. They may claim they haven't received payment but it might be there on the SAR as a screen dump, as well as other things they have denied or lied about. Write a letter of complaint and don't give up, argue back and insist that you WILL be going to the FOS unless you are refunded the unfair charges. The FOS know that Capstone are unable to give a reasonable explaination for their high charges, and in my case neither Capstone or SPML would send the requested table of tariffs to them. The FOS ruled against them and they (Capstone/SPML) whinged like toddlers, stamping their feet and saying it was unfair that they always lose. It takes a while and you have to have patience and grit your teeth throughout but the end result is worth it.

[eagleforms]

Hi Crapstone, good to see you back.

 

I have listed all the charges and "legal Fees". Do I include the legal fees as part of the claim? There are also interest charges on the arrears, do I include those?

 

Without the interest, the total is £3700 and the arrears were £3400 at their highest. I have been paying £100 per month off the arrears, but although I have paid about £3200 towards the arrears, they are still at £2100!

 

I have complained several times and will now put in a complaint to the FOS but I want to be clear about what I can claim back and what I can't.

[eagleforms]

I have also complained about the Woolwich's charges and the FOS have told them to repay 5 years charges at £40 a month and send me £50 compensation. That was 2 months ago and so far have had nothing from them. This seems to indicate that the banks just treat the FOS with total distain!

 

I hope to get the same result with Capstone, but hope they pay up, unlike the Woolwich (Barclays)!

[enoughisenough]

Eagle

 

Insofar as barclays/ woolwich are concerned you now have all the necessary ammo for issuing claim in the County Court. My experience with them suggests it will go to the wire. Send them an LBA giving the 14 days to comply with and observe the FOS adjudication when they fail to do that it's time for your N1 claim. They'll back down before the hearing in most likelihood but it pays to get your arguments and evidence in order in case they actually defend properly.

 

Keep the faith. EiE.

 

You'll get plenty help with this I'm sure. Just don't take any assistance from betty. The accuracy per post ratio is somewhat suspect and they can't admit to being wrong. On a site like this that's no good to anyone.

[eagleforms]

Thanks EiE. I have told the adjudicator at the FOS who dealt with it who said he would put pressure on them to pay it, but if nothing has happened in another 2 weeks I will certainly take it to the county court.

 

Any ideas about what I can claim for with Capstone?

[enoughisenough]

Hi eagle

 

If you were to claim in the county court with Capstone the defendant would be the OL SPML, SPPL, PML. However probably the best way to do this would be to file a counterclaim. Although you are out of time it is quite straightforward. Judges will not hear defences but THEY WILL hear counterclaims and are known to be quite sympathetic to the arguments. People's experiences in court are frustrating because the judges are sticklers for procedure. As a defendant in a repossession claim you have very little ground in which to make arguments but as a counterclaimant the court will open up to you and hear what you have so say.

 

I would suspect that they already have a suspended repo order hanging over you. Is that right? If so you can still counterclaim but the right to do so must be affirmed by a Judge. You only have automatic rights to a counterclaim when you submit your defence, i.e. within 14 days. The key regulation is the Unfair Terms in Consumer Contracts regulations (1999). Basically any term which requires a consumer to pay more than the costs incurred as a result of the breach is likely to be unfair and thus 'not binding'. You could argue that virtually any term that results in charges is reclaimable but that is a matter for the court. I would bet that any properly constituted counterclaim which was admitted by a judge would have an 80-90% chance of success.

 

Keep the faith EiE.

[eagleforms]

Thanks EiE. The suspended repo was a few years ago now, can I still counterclaim? Should I add legal fees and interest on the arrears?