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

[Crapstone]

lt's the final coundown and we better hurry up if we are going to get something done about our mortgages before the curtain comes down. No-one is voluntarily going to help us and the authorities will collectively pooh their pants while washing their hands with sulphuric acid. The situation is surely critical and the bondholders desperate. Let's ensure that we have as much clout as they have when the ''merde'' hits the fan, or we will simply be left behind. This is not something that can be delayed or eternally discussed and mulled over, we need to act and act now.

GR

 

I don't think we have too much to worry about. The scales are tipping and we are only just seeing the tip of the iceberg..both in reforms and the s..t these companies have left in their wake.

[Crapstone]

Some of us are but as I said earlier, it's not a good idea to publish the facts here on an open thread. For one..it will put any case in jeopardy and have to be removed.

[Crapstone]

Well I do appreciate how putting details here might be prejudicial. But, equally, I haven't seen any information helpful to anyone wanting to join and or help with a class action.

 

Surely all that is needed is an invitation to anyone wanting to prove their credentials and join in with doing something positive about it ?

 

And of course a great deal would be done away from this forum. But this forum is very useful to that effort.

 

That's how the whole CAG thing started with Martin being so angry with the banks. And this is an even bigger thing that Martin's original beef about bank charges !!!

 

But I, along with many others, want to do something and to use whatever skills I have to help such legal action along, but I don't see anything to aid that ?

 

I appreciate what you are saying Rocket..all comments are welcome whatever the view.

 

You talk of 'class action' but the differences here have to be ironed out. The common factor is Lehmans but each situation is different to the extreme. We have people that have refused to pay, ones who have had repossession threats made for no reason, past repossessions.....even people that have registered interest in properties.

 

You might not see it but some of us have worked hard to get to where we are, not just for ourselves but for every other person duped.

 

I don't think we are at the stage yet to take any legal action at a class level until a few further things develop.

 

I've lost enough time and money to this company without rushing in like a fool that's watched one too many claims ads.

Edited November 1, 2009 by Crapstone

[Crapstone]

Heavy sigh...

 

I'm beginning to think some people haven't read this thread...

 

post number 679. Got quite a response going in to the FSA. This then led to the TSC investigating sub prime and found that the FSA had done er...nothing much. The FSA then gets a public roasting from the TSC and lo...GMAC! One down three to go. I can't really do this again but anyone who dropped off the radar before hand or has subsequently joined is more than welcome to customise and deliver. In fact you should because:

 

a) it is in very rough form

b) needs to be personalised

c) GMAC-RFC has now come out.

 

I would alter what I posted then (to reiterate - as a very rough guideto suit your own purposes.

 

Remember always that FSA will say that they don't do individual complaints. That's fine. It's lodged. That's what matters. I actually wrote back and said i know. But you are supposed to do compliance and enforcement!

 

Here it is.

 

http://www.consumeractiongroup.co.uk/forum/mortgages-secured-loans/170607-spml-london-mortgage-company-34.html

 

I know the feeling EIE,

 

Seems we've sat back, done nowt and have nothing on this thread to show for it...........

 

Pass me the brick wall when you've finished with it please.

[Crapstone]

I spy.

Edited November 1, 2009 by Crapstone
Too many guests

[Crapstone]

Strange that Capstone have refunded me but the mortgage payment they have taken is more..not by much..The last 3 payments have all differed from what their statement of quarterly payments stated. Again not by much ..and £3 at the most.

 

BTW I do believe Suetonius is a he.

 

Does anyone even know what resolution they want from all this and researched what options are available? I can only say to look ahead and keep it as realistic as you can to your losses.

[Crapstone]

Can I please have it when you are done Crapstone, I will give it back I promise

 

All yours Mrs.. (cough)

 

It's in kit form with plasters enclosed..bandages are optional and listed on my charges sheet.

[Crapstone]

Thanks for your input Sue...Take me last aspirin and be gone. Rome needs you

[Crapstone]

I don't mind getting involved GR, so you can count me in.

 

Just for the record I'm taking my own action against them. Something I know is a gamble, a massive one if I lose, but am looking to cover myself for that.

 

Someone asked what I want from all this as compensation. That will become clear in due course.

[Crapstone]

Is the revolving door stuck again?

 

We've been through the UTCC and countless other laws, directives and codes. Do we really need to go over it all again and have it copied? We should all be able to understand them by now and the options available.

[Crapstone]

Ryde.

 

It's already a given fact that the charges are unfair. I have been refunded by the FOS and could have enforced it through the courts, so the final ruling should apply to all not just picked and chosen. My situation is nothing different from anyone else here..it's probably worse as payment was witheld.

 

We are being treated like idiots that don't share information. The fact is you never take no for an answer either from the regulatory bodies or the lender. It's not an easy path and grinds you down. Strains your relationships and puts a stop on planning ahead.

 

By planning ahead I mean it all seems pointless if you think you think you lose ..still have charges added and no chance of ever paying back the loan that is ever increasing. How are you supposed to keep the property in good repair or even want to with that s**t hanging over your head, knowing that it could be repossessed?

 

The court option is the best available and you pays your money and takes your chances .

[Crapstone]

I haven't received anything yet about new tariffs but from what has been said nothing has changed from Dec. 2008.

 

http://www.capstonemortgageservices.co.uk/capstone/pdfs/Tariffs/74482_SPML_Charges_9.pdf

 

The barstewards backdated arrears fees of £115 to Dec 08 despite not charging them when the complaint was with the FOS. After we won they took off the £60 charges as a refund and then sneaked them back on at £115 for 3 months previous. They were they applied until September this year on the 30th..statement only runs till 20th Oct....But as said they all show refunds against them.

 

Whatever position you are in, keep writing to them and disputing the charges. Pester them and the regulatory bods.

[Crapstone]

http://www.opsi.gov.uk/si/si1999/uksi_19992083_en.pdf

 

Perhaps GR is referring to the above.

 

 

© Paragraphs 1(g), (j) and (l) do not apply to:

— transactions in transferable securities, financial instruments and other products

or services where the price is linked to fluctuations in a stock exchange

quotation or index or a financial market rate that the seller or supplier does not

control.

 

 

I can't find anything that would apply to a mortgage or loan situation as GR suggested ...and Malaysia ? That would be fun to argue under...probably have more success ..

Edited November 5, 2009 by Crapstone
Yoda told me to

[Crapstone]

Guys, what is this?

 

You know fully well what l've been referring to, why these Malaysia or wherever dingaling's, are completely unhelpful. You wan't to critisize me for not stating the exact and correct wording in the Stautory Instruments 1999 No. 2083, Consumer Protection, The Unfair Terms in Consumer Contracts Regulations 1999, Unfair Terms Regulation 5 (5) Schedule 2, Indicative and Non-Exhaustive List of terms Which May be Regarded as Unfair, 1. Terms which have the object or effect of- (p) giving the seller or supplier the possibility of transferring his rights and obligations under the contract, where this may serve to reduce the guarantees for the consumer, without the latter's agreement;

 

l do not have the time, nor am l in the mood for bullsh.t. l am sorry that l used the incorrect wording, Act, as it is not an act, but, a statutory instrument. However, l did expect your own particular interest would be greater and more focused than to nitpick my own humble contributions. As far as l'm concerned it's ok, l have my stuff lined up and will deal with it as l see fit, but, as l said, l;ve got no time over, for bitching and sniping about minor crap, when it would have been as easy for you as it was for me, to find the referenced documents. lt would have been more constructive if, rather than post a 600 word post about Malaysia, you simply pointed out - NOT ACT, GR -

GR

 

You more than anyone should know that there isn't room for mistakes, however minor you may feel they are. If you are serious about your proposals then you also have to be serious about what you post otherwise you aren't going to get very far if you have a tantrum when faults are picked up on.

 

Your response reminds me of the same bull thrown at me when my broker made 'mistakes' and when SPML have been alerted to their 'errors'.

 

I appreciate you are stressed, but so are we all. If we are going to do this and be constructive then we NEED to get this moved to somewhere dedicated to one line of action.

 

I don't think it was meant in a nasty way, just a twist of humour that did make me smile thinking of a judge searching in vain and puzzled about where Malaysia fits in. You do have to see the funny side, we need something to make us smile now and again

[Crapstone]

Ryde,

 

I for one am all done in by keep having to say the same things over and over again everytime someone asks for breaches to be listed. They are all here on this thread in black and white from start to finish in every format possible.

 

As are everyone elses....

 

What is the point in posting when people aren't listening and we keep going back through the revolving door AGAIN. We already have the legal arguements in front of us...the record hasn't stopped just because some people want to keep raking over the same old ground and trying to look deeper than what is under their noses.

[Crapstone]

I've made my suggestions before...we should start from A and finish at B..as consumers and not wannabe lawyers. Make lists of who was misled by their brokers, LTV, rates offered, mistakes made........the whole shooting match not just sprout laws or try to interpret it at this stage.

 

Don't forget laws change..if the EU have their way we'll be kissing goodbye to the right to not accept goods that are damaged ( within reasonable time) and have only the option of repair or replacement instead of a refund.

[Crapstone]

I did get that one EIE....he's busy playing tennis and has taken a fancy to the CAG style logo.

 

Grand Smash Tennis: Berwood Park Set Up Super Tennis Challenge

 

Edited November 6, 2009 by Crapstone
Wonder if Phil Gills ears are burning?

[Crapstone]

So to clarify EIE did you approach the broker or did Barclays arrange for them to call you?

[Crapstone]

crapstone

I know the breeches are listed but its over 114 pages and it has to be tied to the applicable legislation otherwise it means nothing.I would just like to see it in an easily compileable format.

eg.post by your own good self.

Crapstone

1)spml have levied unfair charges of £??? this is in breech of paragraph ? of unfair contracts terms act 1977 because ???? we then have a legal argument with evidence .

No one has got time to go through all these posts and collate everyones individual complaint and apply it to the law.If a collective argument is going to be successfully turned into a legal action I can't see any other way of doing it but would welcome all and any ideas.

 

But if you do it that way people will overlook certain points that they hadn't thought of and just think of charges or think a certain part applies to them when it doesn't as the contract was made before that.

 

We either start from beginning to end and spot for each other what is applicable or we just give up now and go our own ways.

[Crapstone]

But did you approach the broker ryde or did they call you? This is all an important part of the issues we have. Did you pick the broker from a phone book, was it through a bank or were you cold called?

[Crapstone]

Truro,

 

I agree with the other posters that have commented. Now isn't the time to complicate matters.

 

You need to keep the roof over your head and that is simply a case of affordability and pointing out the unfair charges that should not be included in the arrears.

 

The judge will give very little regard to anything else you put forward and, if you are anything like me, you end up up getting a tad angry which doesn't help matters because the judges gets a bit miffed when voices become raised in court.

 

Keep it as simple and as factual as you can with a payment schedule to clear the arrears and ask that no further charges be added as they will compromise your future position. Stress that you have tried to come to payment arrangements and, as in GMAC-RFC, the lender did not follow the correct proceedures and the courts were not used as a last resort.

[Crapstone]

I think its a joke we are left in this position,i cant get a mortgage with anyone else and i am worried about my existing mortgage.

 

As far as i am concerned the investors took a risk with investing in lehmans they have gone bust.so we should be the winners all mortgages should be wiped out.

 

We have been ripped off ,why should people that find it hard to get a mortgage be ripped off.Well its about those filthy rich investors lost im affraid they gambled and they lost

 

 

investors lost and we were the winners for once. This country is in a mess

 

It is a joke.....or at least we are in their eyes.

 

If anyone reading this has problems meeting their mortgage payments then DO contact your lender, and stay in touch with them. Don't bury your head in the sand however difficult the situation may seem.

 

The more you can prove that you've tried to talk to them and make arrangements to pay before (or in early stages of) any arrears, the less likely it is that they will be able to get a possession order at a later date.

[Crapstone]

 

Most of the pre-Oct 2004 SPML borrowers probably have a defence under the CCA 1974. But as we all know, trying to get the courts to listen to a borrower and trying to get the courts to enforce legislation against the lender is quite another matter in practice.

 

Exactly. You know what to expect if the time slot given is just 10 minutes or so. How are you expected to put across several years of conspiracy and deliberate mis-selling in that amount of time to save your home?

 

Like anything else, you get what you pay for and the judges know it's not worth them spending time looking over the cases..just have the rubber stamp handy..let them say a few words and then it's, 'Next please'.

[Crapstone]

I have been reading this thread for weeks im just a bit upset with it all, rates are historically low and banks want to lend at rates of 5%.dont make sense.

 

I was sold my mortgage through a rip off broker who charged me £1000 just to get the mortgage. i think the only reason he used spml was because he got a nice cut off them while fiddling all the paperwork to get it. My credit rating was great before i mortgaged with these guys now i cant even get credit at the local corner shop.I am 8000 in arrears and i have to pay a 100 pound a month towards the arrears by court order. but this happened because i was made redundant about 2 months after getting the mortgage i am okay now but i would like to get the litigation charges back because then i would only be £6000 in arrears.

 

I FULLY SUPPORT YOU GUYS IN WHAT YOU ARE TRYING TO DO

 

You need to write to SPML and ask for the fees back. Send them an SAR, add up all the charges either from that, your statements or both and complain. If they won't budge then go to the FOS.

 

You need to work out what your true arrears are, which should only be the payments you have missed. It's not difficult to do..just takes a lot of patience and time.

[Crapstone]

crapstone

found the best way to try and make them listen is to go through appeal process they hate that,you have to do it carefully on a point of law otherwise if you are refused permission the original order can stand and it can get expensive,but there must be dozens of points in this lot,most judges and the other side don't know what you're talking about they're all ex solicitors in any case.

 

the thiefs

no way you will lose your home hopefully the reign of terror this lot have inflicted is soon coming to an end the fsa is clamping down and i think our mortgages will be sold on to another lender who has to respect the original contract we signed otherwise we have a right to rescind it.They cannot be any worse than this lot,just got to keep your head above water while all this is going on cos they will pull out all the stops to get as many repos as they can(probably on a bonus payment for amount of repos ,this is where they make the big money)

Thought just occured to me gmac fined and ordered to refund charges to all who have been stitched up they are still trading and selling products,how can spml etc refund charges they are bankrupt and have no assets as all sold on to spvs ,would we have to make a claim to price waterhouse when it does happen ie fsa fines them same as gmac, because then we will be shoved to the back of the queue and get b...r all.?

 

SMPL isn't bankrupt and neither is Capstone. The FSA only applies fines in relation to the viability of the company and what it can afford to pay so as not to limit it's trading capability or it's creditors/investors.