Yes Yes Yes **first Win From Kensington!!!!!!!!!!**

[Bona]

I am taking advice if they can charge ecr if they have apossession order it puts thinds in a different light will let you know

[catherinebear]

Hi thanks Bona that would be very useful to know if we have a different argument in this regard.

Many thanks

Catherine

xx

[kennyh]

Louisk - didn't you do well!!

I noticed from your impecable groundwork at #42 from Melanie Johnson "I also announced on 26 January that the Treasury would set new benchmark, CAT standard (cost, access, terms) mortgages for variable and fixed or capped interest rate mortgages. Although voluntary, these will provide a yardstick to help borrowers make better informed, confident mortgage choices and avoid products which have in some cases caused detriment in the past. It is expected that CAT standards will be finalised shortly, following discussions with the mortgage industry.

The FSA will embark on a formal consultation process in the early summer and will consult on detailed rules for mortgage regulations towards the end of the year. Unauthorised mortgage providers will need to apply to the FSA by the middle of 2001, and the FSA expects to have the new regime in place by the third quarter of next year. The Treasury is in frequent contact with the FSA to discuss how these matters are progressing. However, it will be for the FSA to decide whether to initiate investigations into particular areas or firms in the mortgage market, once it has the powers to do so.

In the meantime, all mortgage lenders in the non-status market have to comply with the guidelines issued by the Director General of Fair Trading in November 1997. These guidelines include the need for transparency in all dealings with potential and actual borrowers, and to ensure they do not engage in unfair business practices. Failure to comply with the guidelines could call into question a firm's fitness to hold a consumer credit licence."

Any idea what the actual outcome was on the 'transparency' aspect?

[Guest DEATHLORD]

has any one any more infor on the ecrs when there is a repo case, as I believe and by talking to a d/j that this puts a new light on it as you have broken a contract? and I have writeen before but no one has asnwer WHAT is the ecr for as if the Ken have said and I qoute,

ERC additionalintesetis changed in accordance with the mortgage terms as varied by the offer of mortgage' so what is it please some one ohhh tell as I fully believe its a: loss of profit or b: loss of interest?

[rubber duck]

 

Fantastic News!!!!!!!!!!

 

Congratulations

 

:D

 

I've changed your title to something more fitting.

I too hope those legal costs hurt.... it won't be the last they waste on defending claims!

 

Well done to you!

 

I'm thrilled!

 

 

 

Hi there..

 

first of all ,thank you very much for all the info that you provide on these forums ...my dilemma is as follows as far as the Mortgage comapnies are concerned;

 

how they can even contemplate of challenging any of us in Court when they know full well that;

 

1-they are covered by the same rules and regulations as the banks- and

credit card companies-as clearly indicated in the Customer Contract

regs...

 

2-they have charged us all along fees ,penalties and defaults well above what it costs them ,clearly they have been making huge profits-as much as up to 2000pct in most cases!as we all know that these silly letters etc..cost between 49 to 99 p each to produce!no wonder they do not want anybody else to know their cost disclosure!!!

 

so is there any reason why we may not take them to court.???..surely any even averagely intelligent judge would see through them at a stroke and

award the decision in our favour,specially when the media also gets hold of this sad story!

 

please enlighten us with your wisdom..

 

tks and God bless.

r.d

[mochamoo]

 

1-they are covered by the same rules and regulations as the banks- and

credit card companies-as clearly indicated in the Customer Contract

regs...

 

The cheeky buggers have well written contracts with legal indemnity clauses and have big teams of barristers

 

2-they have charged us all along fees ,penalties and defaults well above what it costs them ,clearly they have been making huge profits-as much as up to 2000pct in most cases!as we all know that these silly letters etc..cost between 49 to 99 p each to produce!no wonder they do not want anybody else to know their cost disclosure!!!

 

Tell me about it! Silly letters tend to cost a tad more than 99p, The lassie from the whistleblower said about £2.

 

so is there any reason why we may not take them to court.???..surely any even averagely intelligent judge would see through them at a stroke and

award the decision in our favour,

Again, legal indemnity clauses, barristers, sneaky brained people!

Have a look at the threads were the judges have stuck claims out - however Tamadus and Mrs Foot seem to be leading the way with good judges at the minute

 

specially when the media also gets hold of this sad story!

I have written to every single magazine and newspaper in the county. I was in contact with the BBC ,as many on here will remember, the BBC thought it was too big a story to deal with.

 

Dont worry Rubber duck we will get them in the end its just going to take some planning. A lot is going on off the forum and when its time we will be told how to get them.

 

That's my tuppence worth.

 

Over to Zoot for more expert opinions!

[Bona]

Deathlord I believe that if there is a repossession case erc's may not be chargable I also have been saying this for some time in my case I am getting legal opinion in the next week or so If all goes well I will be going for 13grand inerc and penalty charges but want to be clear on my gorunds first

[kennyh]

Ho there Rubber Duck,

Best you catch up with some of Zoomans epics to get a more (perhaps overly) grounded view on these matters.

[hagenuk]

 

Tell me about it! Silly letters tend to cost a tad more than 99p, The lassie from the whistleblower said about £2.

 

 

She said no such thing. Do not fall into to the trap that so many have.

 

The reporter suggested "a couple of pounds maximum?"

 

and the Whistleblower confirm "Maximum"

 

A lie oft told becomes the truth.

 

Clearly these letters and our defaults do have a cost, but it is still far short of even £2.

 

Data processing is cheap, somewhere in the order of between 0.2 to 0.6 of a penny per record or between £2 and £6 per thousand records if done by an external company - and remember, these companies also make a profit on that too. The banks do it in-house and therefore enjoy cost savings there.

 

Then, if the bank send a letter (many do not) the paper and the envelope have a cost, as does the postage. Paper is around £3 per thousand sheets and white DL window envelopes are £11.49 per thousand from a well known stationery supplier, so it is doubtful the banks pay anything like this for their paper and envelopes.

 

So the total cost per letter? Approximately 1½ pence for the paper and envelope, 34 pence for postage and maybe ½ a penny to process the data. They are printed, folded and inserted by machine at a cost of a fraction of a penny each again, as the process is fully automated.

 

Still a long way short of the mythical £2 that was in fact, suggested by the reporter initially and then also stated by a junior manager at Barclays.

[mochamoo]

Hagen,

there is a thread somewhere on this forum (can not remember where) where Yoda says its more like more like £2 (probably a bit less) and definitely more than the 9p as she was quoted as saying in Whistleblower.

[hagenuk]

Yes, I appreciate that, but in fact what was stated was that it costs a maximum of £2 in some cases but in a great many cases much less than this as the process is almost entirely automatic.

 

There simply are not armies of operators sitting hunched over terminals keying in data all day to manually pay or decline cheques or DD's. Only in a small minority of cases does a person actually do anything - the vast majority of bounced payments are automatic.

[mochamoo]

There simply are not armies of operators sitting hunched over terminals keying in data all day to manually pay or decline cheques or DD's.

 

 

LOL the images you've just put in my head with that!!!!!

 

 

It was 1 in the morning and I read rd's post as 9p not 99p. I do not remember the whistleblower word for word but I do remember reading Yoda's thread's about it. Regardless, I am not here to have my head jumped apon for trying to be nice and offer simplified advice.

[hagenuk]

Regardless, I am not here to have my head jumped apon for trying to be nice and offer simplified advice.

 

LOL - I am not jumping on your head, but don't you see? According to the law the banks must only charge us the actual cost of each breach, they must not make a profit - even at £2 they are making a profit, we must not lie down so easily.

[mochamoo]

I do see that! Its one of the reasons I am a member of CAG! Also one of the reasons I am trying to finding away to successfully claim ERC's back as well as trying to get media interest in them.

 

Must go, have a bank to tell off for sending statements to the wrong address.

 

 

Sorry for the hijack Louisk!

[rubber duck]

 

The cheeky buggers have well written contracts with legal indemnity clauses and have big teams of barristers

 

 

 

Tell me about it! Silly letters tend to cost a tad more than 99p, The lassie from the whistleblower said about £2.

 

 

Again, legal indemnity clauses, barristers, sneaky brained people!

Have a look at the threads were the judges have stuck claims out - however Tamadus and Mrs Foot seem to be leading the way with good judges at the minute

 

 

I have written to every single magazine and newspaper in the county. I was in contact with the BBC ,as many on here will remember, the BBC thought it was too big a story to deal with.

 

Dont worry Rubber duck we will get them in the end its just going to take some planning. A lot is going on off the forum and when its time we will be told how to get them.

 

That's my tuppence worth.

 

Over to Zoot for more expert opinions!

 

 

Tks a lot for the info so far..one sticky poit for the intelligent barristers though...

does it matter how much of a legal indemnity clauses that they may have when what they do is plainly illegal hence the original contract is null and void??as they were supposed to deal with us honestly,with care...where??? i have not seen that at all from any of these big boys ...People like kensington deal with people who did have their problems in the past and trying to get back on track..but not only by charging higher-up to 50 pct more!-on their mortgages,they also punish them with all kinds of heresy,inuendo and superficial codswallop!..they are the first ones to breach their own contract anyway by delaing with us in a dishonest way!! please tell me which judge is gonna listen to them,except when striking claims out as a result of making mistakes on the procedures governing the technicalities of the mechanism of courts,not on the fundemental issue of dishonesty and lack of care.

[stevesmart36]

Your spot on there Rubber Duck. Kensington took us to court last September and the judge threw it out. He actually said to us "If you need any further assistance please feel free to contact the court". Thier representative could not supply the relevant documants whne asked to by the judge, she asked us if we had them! Like we're gonna supply her documents to help her case against us, stupid woman. Anyway, Kensington are getting their own back, since last Septmerber (7 months) we have had no fewer that 5 interest rate rises on our mortgage. It's now upto a staggering 9.45%(4% higher that BOE base rate) These people are parasites and we are desperate to get them out of our lives, but it cost us...............about 4 grand (ERC).

[rubber duck]

Your spot on there Rubber Duck. Kensington took us to court last September and the judge threw it out. He actually said to us "If you need any further assistance please feel free to contact the court". Thier representative could not supply the relevant documants whne asked to by the judge, she asked us if we had them! Like we're gonna supply her documents to help her case against us, stupid woman. Anyway, Kensington are getting their own back, since last Septmerber (7 months) we have had no fewer that 5 interest rate rises on our mortgage. It's now upto a staggering 9.45%(4% higher that BOE base rate) These people are parasites and we are desperate to get them out of our lives, but it cost us...............about 4 grand (ERC).

 

 

Hi there..

i suggest.please please please,do not ditch them until you are free to do so..so they get no fees for early exit..they do not like that!..all in all even if you have to change to another company,the changeover fees etc is gonna cost you around 1500-2000 pounds..so save that and wait until you can leave without any punishment from the Draculaland!that is exactly what i am waiting for..ready in June -july sometimes...

but whatever happens i want everybody to sue them..the more the merrier...as the numbers starts to increase believe me their will to defend anything will be on the wane..then Bingo!They know we are right..but just delaying the inevitable so they can draw more interest from our funds in their hands...but not long now!

keep the faith.

[Louisk]

Hi Gang,

 

Well surprise, surprise Kennsington have still not paid up. In fact thay added a further £730.91 to my account in February - at least this time they had the decency to call them 'Solicitors Costs' all of this in direct violation of the tomlin order.

 

Wrote a letter to their solicitors giving them 7 days to sort it, reply from solicitor states ' administrative oversight ' 14 days later still waiting for ' administrative oversight ' to be corrected.

 

Question is ---- Is it time to send in the baliffs ? (oh I really hope so ),

 

I know kensington have some nice fancy offices in the Paddington area, what a dream it would be baliffs - newspaper reports - TV news crews - victims of kennsington - all there to see justice being done, what a show it would be, if it kicks off your all invited !

 

Advice please

[rubber duck]

Hi Gang,

 

Well surprise, surprise Kennsington have still not paid up. In fact thay added a further £730.91 to my account in February - at least this time they had the decency to call them 'Solicitors Costs' all of this in direct violation of the tomlin order.

 

Wrote a letter to their solicitors giving them 7 days to sort it, reply from solicitor states ' administrative oversight ' 14 days later still waiting for ' administrative oversight ' to be corrected.

 

Question is ---- Is it time to send in the baliffs ? (oh I really hope so ),

 

I know kensington have some nice fancy offices in the Paddington area, what a dream it would be baliffs - newspaper reports - TV news crews - victims of kennsington - all there to see justice being done, what a show it would be, if it kicks off your all invited !

 

Advice please

 

 

Dear Louisk....

 

please..pleasse..please..do it!

i ,and the thousands of others are waiting in hope!..pleaseeeee!

[mochamoo]

Dear Louisk....

 

please..pleasse..please..do it!

i ,and the thousands of others are waiting in hope!..pleaseeeee!

 

 

I agree, 21 days and still no money! Do you think they would wait that long for you to pay up?

[zootscoot]

Go for it Louise!!!

 

Put them in their place once and for all

[rubber duck]

I agree, 21 days and still no money! Do you think they would wait that long for you to pay up?

 

of course not.!

 

can you also imagine the noise that it will create in the media and the industry as a whole??..hopefully afterwards we can take them on,on our own terms...at the end ;we need mortgages,they need a return for their money,as long as we are all honest with each other...there is no problem,is there?...this whole issue is not of earning a decent profit for these companies-as shown by them so far!-but how much they can squeeze us for!..similiar situation happened with car companies for so many years now..they toe the line!(they are still making money on over-priced spare parts now, but this is another issue for another day!)

[mochamoo]

Ive got loads of email adddress and phone numbers for the newspapers and news channels if you need them!

[salfordric]

Can any1 answer this,

 

I had an account with the dreadful kensington and thankfully I paid it off but did rack up a serious amount of charges if I no longer have the account can I still claim back £50 per month arrears fees etc, does any1 know. they are the worst biggest bunch of w**kers i have ever had the misfortune to have become involved with and now im going to try and get my own back against them and their equally as unplesent assosiate Derbyshire home loans, can any1 offer any guidance on what fees are applicable if at all. and can I claim if the account is closed???

[mochamoo]

yes yes and yes! Have a look in Zoots sricky Mortgage FAQS I seem to remember there being a list of claimable charges in there.

 

As long as its small claims size you should be fine, they haven't managed to use their legal indemnity clause in the small claims but as you can see from this thread, they do try!

 

Send off your SAR and get all the details first.