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

[sawyer]

Hi, welcome, there are many of us on here with Capstone, SPPL, SPML, Acenden etc problems of falsely claimed arrears etc.

 

You will need to catch up on some of the posts here, and recent online newspaper articles in the Daily Mail highlighting Capstone Mortgage Services. Google search engine will be your friend, you may even find a [edit]…

 

There is no harm in starting a FOS complaint as you've already complained to Capstone and not had a reply which is not uncommon. Complain also to the OFT & FSA, email a written letter to them. Don’t hold back tell it like it is. It seems that not enough people have been complaining.

 

Capstone’s falsely claimed arrears can escalate very quickly, and they will try to repossess at every chance. I’m not trying to worry you but this is what Capstone do. Hopefully you can prevent all this from happening. I only wish I didn’t have the suspended possession order and falsely alleged arrears.

 

Do not phone Capstone write and send everything signed for so you have receipt. Do not trust them. Start keeping a Capstone diary. Check out your statement as like most it won’t add up, and have charges. Do you have PPI with the loan? There are many more things to do but this will be a start.

 

Peoples, I thought I had posted here before, but can not see my post .. so here goes (apologies if this is duplicated )

 

I have for MANY years complained to SMPL / Capstone / who ever, that their letters and statements have been incorrect, but these complaints are just ignored, ( some have been sent by recorded)

 

Before Xmas, I received no less than 4 letters all stating differing balances and alledged arrears ( in reality, I think the arrears are an accummulation of their charges due to their errors )

 

I wrote a long letter high lighting these errors - afterall If they can not keep an accurate record of my mortgage who can ? In short I have lost faith in their ability to record and report accurately. I have today received another letter stating that I have not paid sufficient funds last month by some £ 736 . In fact I had not only paid last month, I had over paid as I do most months.

 

For several years I have over paid my mortgage, to be told the arrears are increasing ????

 

I have now had enough. I can not move my mortgage because of the incorrect reference/ comments from Capstone .. so what choice do I have but to take them on

 

Now, I understand that the Ombudsman has no teeth, so where do I go get this started ? is there a group action I can join, or am I better on my own ? is there a solicitor already briefed with the antics of these clowns ?

 

Your advice appreciated.

[Crapstone]

Peoples, I thought I had posted here before, but can not see my post .. so here goes (apologies if this is duplicated )

 

I have for MANY years complained to SMPL / Capstone / who ever, that their letters and statements have been incorrect, but these complaints are just ignored, ( some have been sent by recorded)

 

Before Xmas, I received no less than 4 letters all stating differing balances and alledged arrears ( in reality, I think the arrears are an accummulation of their charges due to their errors )

 

I wrote a long letter high lighting these errors - afterall If they can not keep an accurate record of my mortgage who can ? In short I have lost faith in their ability to record and report accurately. I have today received another letter stating that I have not paid sufficient funds last month by some £ 736 . In fact I had not only paid last month, I had over paid as I do most months.

 

For several years I have over paid my mortgage, to be told the arrears are increasing ????

 

I have now had enough. I can not move my mortgage because of the incorrect reference/ comments from Capstone .. so what choice do I have but to take them on

 

Now, I understand that the Ombudsman has no teeth, so where do I go get this started ? is there a group action I can join, or am I better on my own ? is there a solicitor already briefed with the antics of these clowns ?

 

Your advice appreciated.

 

I'm lagging a bit as I'm struck with the dreaded flu and it's started to wear me down far more than Capstone ever will, so apologies in advance if anything I say isn't quite right or lacking in umph and enthusiasm.

 

Firstly request everything you can and SAR them, several times over if need be. Sit down, do the calculations and question everything. Add up all the charges they've put on your account. You can download programmes that allow you to work out the interest that should be charged but it's time consuming and you need all the info. to hand so it's not for everyone.

 

As you've said THEY are the ones that should be keeping accurate records but since my dealings with them from 2003 they have failed and are still failing. They can't get a statement right and the ones you think pass as perhaps being ok they then issue a notice to say they got the interest wrong AGAIN so they send you another statement that again makes no sense.

 

I spent over 2 years following them up with the Ombudsman and was party to a slanging match that SPML and Capstone felt picked upon and they considered their charges fair and that the Ombudsman was being biased. I won, they lost and had they to pay up and are still paying now through mistakes they continue to make.

 

Establish a contact with them for a complaint. Get as much information as you can and challenge them on every level, as you'll eventually prove they have lied to you at some point and have tried to conceal their mistakes. Get it all in writing and file it. It's not easy, it takes time to go through it all but it's bloomin' well worth it when you turn up a diamond and have it in B&W that they have really fluffed up.

[Crapstone]

Again a fax facility is a must, or at least it was to me when asking them to get documents over and for them to receive them. They'd deny receiving things sent to them and blame poor quality especially for insurance. Their machines must come from fortune cookies as they don't know their heads from their behinds.

[Suetonius]

The site team should let you write a sticky Crapstone... Good advice as always

[brassed-off-2]

The site team should let you write a sticky Crapstone... Good advice as always

 

I totaly agree sue.

 

Today for example..rang them to clarify account balance after clearing the arrears on 31/12/10, again to stop their repossession order, in a matter of a minute we were told that the account had a credit balance of over £1k, and then we were told we still had an arrears balance of £65.00. What is more this has accrued off their £115.00 litigation fee, that they have decided to add after several conversations stating that it had not been added for some reason, but they have decided to use the £50.00 surplus that was a payment that was for the arrears arrangement as per the court order, this was stated with the covering letter...now call it what you like, but i call it theft..stealing.....they should have returned the cheque and a letter advising they were adding the £115.oo to the account........ forwarding this info to the fos...

[Crapstone]

I totaly agree sue.

 

Today for example..rang them to clarify account balance after clearing the arrears on 31/12/10, again to stop their repossession order, in a matter of a minute we were told that the account had a credit balance of over £1k, and then we were told we still had an arrears balance of £65.00. What is more this has accrued off their £115.00 litigation fee, that they have decided to add after several conversations stating that it had not been added for some reason, but they have decided to use the £50.00 surplus that was a payment that was for the arrears arrangement as per the court order, this was stated with the covering letter...now call it what you like, but i call it theft..stealing.....they should have returned the cheque and a letter advising they were adding the £115.oo to the account........ forwarding this info to the fos...

 

And so you should! Be sure to tell the Ombudsman that you want ALL and ANY payment, should you win ( I've no doubt you will !), be made direct to YOU and NOT to be used as payment against your account. Arsend' um really won't like that but explain that you already have the court order that you've stuck to and have suffered severe hardship/ stress because of the way your account has been conducted. Further more you could also state that your consumer/ lender relationship has irretrievably broken down and you have no faith that you will gain any benefit should they be allowed to use any compensation awarded to you against the disputed account.

 

It's just a thought or otherwise they will do the same as what they tried to do me and use the lot against the account and make it seem as they they are doing YOU a favour. It's then a real pain to get sorted out once they've done it and wastes more time having to go back to the FOS.

[brassed-off-2]

Thanks for the help Crapstone,i m just in the middle of getting this lot of to the Fos at the moment.

Hope you have fully recovered from your flu??

 

bo2

[Crapstone]

Thanks for the help Crapstone,i m just in the middle of getting this lot of to the Fos at the moment.

Hope you have fully recovered from your flu??

 

bo2

 

Not yet but I'm getting there and have an excuse to drink plenty of Irish coffees, so thanks for asking!

[brassed-off-2]

I dont need the flu to drink the irish coffees, i just drink them anyway, i do use the excuse it keeps the drafts at bay though!! lol:lol: Cheers...hic!!!

[advanced_scams]

Thanks for this usefull information on this company, I am glad i found this furom

[Crapstone]

It's a long thread to follow but you're welcome advanced.

[budobird]

Can anyone help please????? Took out a secured loan with London Mortgage Company and to cut a long story short received a letter to say that Capstone Mortgages (with whom i have a mortgage with although it was originally SPML) were taking over. That was ok but then a few months later got another letter to say that someone had taken over. The final long payment is due next month and they are saying i have to pay over 5k. The orginiasl long was only for 5k and have been paying it all the time and payments are up to date. I am not in a position to make the payment in full or a lump sum. Having spoken to them recently to check if i had PPI i am wanting to get advice beforehand as i reckon they will say that they need a full payment. Am worried that they are going to repossess my house. Please Please help???

[budobird]

Sorry for spelling mistakes but am quite worried and upset

[Ell-enn]

Do you know why there is a large payment due at the end of the loan ?

[littledotty27]

Hi budobird

How long ago did you take the loan out and for how many years? They do have a tendency to add on the Early Repayment Charge at the end,even though your out of that period. Check your agreement and see how much the ERC was for.

Welcome to the thread by the way

LD

[budobird]

From what i can remember i took the loan out over a five year period which is up in February. I dont remember there being a large payment agreed at the end of the term as i know i never have that much money and so wouldnt have be able to afford it. The new company name now is Ascenden. Have been trying to get through to them on various numbers for last hour but no one wants to talk to me.

[budobird]

Still trying to find that out!!!!! If they ever answer the telephone.

[budobird]

Eventually got through to them and was told that i have 2 monthly payments to make and that NO lump sum had to be paid at the end and at the moment my account was actually £1.85 in credit!!!!! Asked why i received a letter and was asked if i had ever changed it to interest only as that was showing on his screen and he didnt know why??? Obviously i answered no and was put on hold for 12 minutes . Because my account may have gone into arrears before, the charges have gone onto the capital balance. When Ascenden took over ion 03/03/09, due to not being told exactly what was going on i was charged 25 then 2 lots of 85 due to late payments. What they has suggested is to send me out a running copy which is free to see exactly where my money has been paid. And that I WOULDN.T be expected to paid the full 5k in full although the letters said i would have to but could come to some arrangement with them. I explained that i was extremly annoyed as far as i was concerned i paid my last payment next month and the loan was finished. I await the post over the next couple of days and will keep you updated. Thanks for your help.

[Crapstone]

Put it all in writing and ask the same of them . Don't rely on phone calls!

[jasperpad]

Hi budobird

 

welcome to this forum which is a very very helpful one.

 

Firstly if you can't find your original agreement write (as already said always write NEVER rely on phone calls) and ask for a copy of the original agreement. This should show what the early repayment cost is if there is one.

 

Also when you get the statement showing the payments and it shows (it may show!) any missed or late payments, check your bank statements and see if the tally with what they are saying.

 

This is just the start, once you have this information and you find that you are right, write to them asking for a complete explanation of their costs and why you have been charged them and state that you are not acknowledging the costs as they are not part of the original agreement.

 

keep us informed as we will help you ll the way

 

jasperpad

[nmonline]

Hi all,

 

Just drafting my SAR, but wondering who to address it to. The original mortgage was SPML, so should I send it to them, Capstone, or Acenden?

 

Many thanks in advance...

[dave121]

I am with spml and ascenden, and had a suspended eviction order back in 2005 i was late on my december 2010 payment and they have wrote to tell me they are going for the eviction, i am only £176 behind with the order from 2005 and have said i will get it up to date this month, but they say they want a lump sum from me, (£3500 in arears, mostly fees/interest dating back from 2005 onwards)

i have no capital to pay them ,so they said go see family and friends and get as much up as you can, but be warned if they have to go back to the manager without a substancial sum you will be evicted....

i have had a solicitors letter confirming they are going for my home, but no date set, please someone give me advise....

regards dave

[rocket1]

Does anyone know what is going on with this? Are SPML being investigated for attempted fraud ?

 

The Charity Commission told me SPML would be committing a fraud if they tried to use charitable trusts and they would be also committing a fraud if they said they were a charitable trust when they weren't. The Charity Commission appeared to say SPML's subsidiaries had applied and been refused but SPML is claiming they are charitable trusts and that would be a fraud. What does anyone know about all this ?

 

http://rocketspage.wordpress.com/2010/03/03/southern-pacific-mortgage-limited-spml-hides-money-from-lemans-creditors-in-charitable-trusts/

 

Then, guess what ? The SPML annual report proudly announces these Special Purpose Vehicle companies, SPV’s for short in the childish jargon of these idiot ‘Masters of the Universe’, are all ‘legally and beneficially owned’ by charitable trusts and are included in the financial statements of the company (SPML) on a ‘linked presentation basis’. That is more jargon designed to confuse people into not quite realising SPML have hidden all their money in charitable trusts so it is protected from all the people owned money by Lehmans and its subsidiaries.

 

Clever stuff, or what ? But is it moral ? Is it honest ? It may (possibly) be legal, but it doesn’t look remotely honest to me.

 

A Charity Commission spokesperson said: “A body is a charity if it is established for exclusively charitable purposes only. To qualify as a charity, an organisation must also demonstrate that its purposes are for the public benefit.

 

“The 1993 Act requires trustees to register charities in England and Wales with the Charity Commission. Any charity which has a gross income exceeding £5,000 a year is required to register. However, some special classes of charity are free from the requirement to register”.

 

I do wonder what on earth the ‘public benefit’ of the SPML arranged charitable trusts can be. Does it mean they have had a change of heart and decided to atone for their previously ruthless behaviour which led to Lehmans bankruptcy and global financial meltdown ? Do they now plan to rescue distressed homeowners being repossessed and thrown out onto the street by other mortgage lenders ?

[dave121]

I am with spml and ascenden, and had a suspended eviction order back in 2005 i was late on my december 2010 payment and they have wrote to tell me they are going for the eviction, i am only £176 behind with the order from 2005 and have said i will get it up to date this month, but they say they want a lump sum from me, (£3500 in arears, mostly fees/interest dating back from 2005 onwards)

i have no capital to pay them ,so they said go see family and friends and get as much up as you can, but be warned if they have to go back to the manager without a substancial sum you will be evicted....

i have had a solicitors letter confirming they are going for my home, but no date set, please someone give me advise....

regards dave

I have just been given an eviction date do i need to do a form for the court

[newstarter]

Yes you will need to apply to have the eviction suspended on form N244,what date is the eviction?