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Operation Revenge 2007


zootscoot
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It is clear now that we can not tackle the mortgage companies individually by bringing claims.

 

But the battle does not end there.

 

Many people have suffered at the hands of the mortgage companies and they cannot be allowed to continue with their oppressive charging regimes.

 

Bank charges cause hardship but mortgage charges cause absolute misery. I've seen countless threads in this forum from desperate people scared of losing their homes and some who have lost them.

 

The obscene charging regimes employed in the sub-prime market coupled with the interest rate hikes out of all proportion to high street lenders mean too often people are forced to end their mortgage and then have to pay extortionate ERCs for the privelege of 'choosing' to end their mortgage early.

 

The courts believe this practice to be fair.... I believe this practice to be the acts of vultures feeding on the misery of often very vulnerable people.

 

The way claimants have been intimidated and bullied by these companies for trying to seek justice is absolutely sickening. How can companies treat people like this particularly when they have already taken so much from them? If we've learnt something from this experience we definately know who NOT to take a mortgage from in the future.

 

Its time to change tac.

 

No more people should be victims of such tactics. PLEASE DO WITHDRAW YOUR CLAIM with minimum damage possible.

 

We need to take action to bring an end to the practices.

 

Obvious examples would be to involve the FSA, FOS, OFT lobby Parliament & EU, Petitions etc.

 

We need to get organised to have an impact.

 

Please reply with any suggestions or just to pledge your allegiance.

 

There are more consumers than mortgage companies and without us there would be no mortgage companies. We will beat them!

 

Power to the people!

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I'm with you too Zoot. Include me in any action you propose to take. I will be writing to my MP about it. What about starting of a Petition on this site and include all the other sites connected with refunds of penalty charges because no matter what the mortgage companies say that is what they are.

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If any one can start some research on sub-prime lenders that would be great.

 

Things to find out

 

The charges they impose

Interest rates comparable to other lenders and how much they increase after initial discounted period

Advice given by mortgage brokers and commissions paid to brokers

Their profit

Repossession rates- repossession policy

Responsible lending practices - how far do they ensure that borrowers are able to meet their payments after initial discounts are withdrawn.

Any other info which is relevant.

 

We need to get some strong evidence before taking this further otherwise we will not be taken seriously.

 

If people want to chose a company to research post here who they are researching so that their is no duplication of work and then e-mail me the results.

 

I can then start putting things together to take the campaign forward.

 

They will regret their actions!

 

Thanks in anticipation for any co-operation

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Hi Zoot

I,m in. I will research Kensington if this helps.

 

Kensington Mortgages reported a pre-tax profit of £30.3m for the six months to the end of May, up 24% on last year

 

The loan impairment charge surged to £24.5m. That’s a 117% jump on the same period in 2005. Meanwhile the number of accounts three months or more in arrears rose to 9.6% of overall assets, from 9.2% a year ago, while bad debt provisions rose to 0.68% from 0.66% in 2005

 

13.07.2006

 

repossessions, house price crash - Money Week

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These are the main ones I can think of.

 

GMAC

Mortgages plc

Birmingham Midshires

Platform

I Group

Bristol & West

Kensington

Mortgage Express

The Mortgage Business

Swift

Preferred

Acorn

Amber

Northern Rock

Future Mortgages

Redstone

SPML

Consumer Health Forums - where you can discuss any health or relationship matters.

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The Libor rate at the end of a Mortgage deal i think needs looking into. That is a huge jump in interest after the discounted rate expires.

WARNING TO ALL

Please be aware of acting on advice given by PM .Anyone can make mistakes and if advice is given on the main forum people can see it to correct it ,if given privately then no one can see it to correct it. Please also be aware of giving your personal details to strangers

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I,m fighting GMAC and I'm with you all the way please some of you follow my thread on costs and small claims and email the Chancellor I am making an application in the High court next week to have GMACs cost which they put on the mortgage assessed by the high court the Judge at a previous hearing agreed to vary an order but GMAC wouldnt and as I hadn't asked for it on the original order he couldnt do so off we go again I will know how they arrive at their charges, yippe its snowing will be in all morning

Bona

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I will do Bristol and West and Platform for you. Count me in on anything you propose to do.

 

If you need letter writing my partner used to be a journalist and is brilliant at writing letters!

09.12.2006 B&W LBA sent

 

22.11.2006 B&W prelim letter sent asking £5500.32

 

23.11.2006 TMB S.A.R - (Subject Access Request) sent

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Abagnale should be excellent at 'Operation Revenge' if you are like your namesake :)

Please note that I am not a legal expert and all advice given is without prejudice and is purely my opinion only.

 

** Nationwide - £1821.15-PAID IN FULL - Aug 06 **

** Halifax Mortgage -£390 - PAID IN FULL - Nov 06 **

Lloyds TSB - MCOL issued 09/03/07 - £2953 + costs - ON HOLD....

 

 

 

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Guest willowb

I'll do what I can, but it looks like this may end up a bit chaotic, Zoot if there is anything specific I can spend my time on please pm me and I'll have a go!

 

Wxxx

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Wasnt sure if mine was on there mascarading as someone else -

 

Im with GE Money!

 

Their ERP

 

6% 1st year

5% 2nd year

1% 3rd year

 

Though all our paperwork said our date ERP no longer applied was 081206, they are still forcing through a 1% ERP on ours at the moment as they claim all the paperwork they have sent us in the past (statements and ER Figures) with this date on was an admin error.

 

We started on a fixed term for 2 years of 6.2%

 

Fixed term ended in December whereby we were paying £812 per month, January it went up to £854 and this month its £876 thats £64 in two months - if we had to hang on until 081207 when they claim the ERP no longer applies I dread to think what they would have hiked the mortage up to by then.

 

Incidently, copies of my credit file revealed no adverse credit for either myself of partner, but we still couldnt get a prime lender mortgage so guess who we stuck with now - IMAC - see they are on your hit list *sob* .

 

Let me know if there any other info you need on these bandits!!

Allyxia

KEEP FIGHTING FOR YOUR MONEY - EVEN WHEN IT GETS TOUGH

The Banks are somewhere which lends you an umberella when it is sunny, and takes it away when it rains

 

HSBC £1200 - Settled in Full

Cap 1 2 X £100 - Settled in Full

Nationwide £1641 - Settled in Full inc Default and CCJ Removed by Court Order

NatWest £2215.60- Settled in Full and Removed Default Natice

Woolwich £3690 - Settled in Full

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gizmo PM if you need any help with Birming Midshires (which I believe is actually owned by halifax)

I am in the fortunate position that my extortionate ERC ends in November - just is my credit history will become as white as the driven snow as 2 CC defaults and my IVA disappear!

Roll on cheaper mortgage!

Zoot - like I said before many times, the bas@*rds know how to kick you good and proper when you are down, and they don't stop. It can be a viscious circle.

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gizmo PM if you need any help with Birming Midshires (which I believe is actually owned by halifax)

I am in the fortunate position that my extortionate ERC ends in November - just is my credit history will become as white as the driven snow as 2 CC defaults and my IVA disappear!

Roll on cheaper mortgage!

Zoot - like I said before many times, the bas@*rds know how to kick you good and proper when you are down, and they don't stop. It can be a viscious circle.

 

Hi ya Crisp,

 

Thanks for offer - I have my mortgage with BM and have never had a problem with them in the 4 years or so I have been with them - I have a good rate and a flexible product - but I know there are many who ahve had real problems with them and haven't been able to get out of it.

 

If you have at hand any of the info zoot has asked for then by all means let me know - save me a bit of the legwork.

Consumer Health Forums - where you can discuss any health or relationship matters.

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