SPML Reposession and ERC

[AndyISmith]

Hi All,

 

2 years ago I fell into sever financial hardship after losing my job. My mortgage was with Southern Pacific Mortages Limited (SPML). I had the house up for sale, with no luck and eventually they re-posessed. Shortly afterwards I moved into rented accommodation and eventually they sold the property. They had continued to accumulate arrears even after they had re-posessed the house and when they sold it and re-paid the mortgage, charged an ERC of £17,161.66 and an additional £2,894.33 of interest. Is there anything that I can do about this?

 

Andy.

[mrsfoot]

Andy, what were the terms of your contract? what was the tie in period? If you had gone past the tie and and had to give just 28 days notice then you could reclaim some of the money as they would have had 28 days notice.

However ERC claims are not as strong as we would like at this moment. SPML are likely to put a fight up. Read all FAQs and threads on mortgage claimants first before you do anything.

 

If you had charges, which I am sure you did, they can be reclaimed a lot easier that ERC, however proceed with care.

The best start for you would be to send a DPA SAR to their registered address and request all the info form your account, including a copy of the original contract.

Check out the deeds release fee / admin fee.....I am sure a number of clients have paid a higher fee to close the account than was quoted in the contract.

Hope this helps