Croyland V GMAC

[CROYLAND]

After several months reading this forum with interest, I know have the time and the will to deal with GMAC having successfully moved all of my mortgages away from them, I am about to issue the first SAR letter.

 

I have, in total, 5 mortgage account numbers to query missed DD payment charges and ERC's (ready all previous threads and will decide which to claim once I have all the information). 2 of the mortgage accounts relate to the same property as when I re-mortgage they made me 'redeem' the original loan (and charged me a penalty for doing so as they stated the mortgage was not portable) and created a 'new' loan and account number.

 

I will go into more detail on this when I see what the overall financial cost was to me but my initial query is do I have to send £50 on the SAR letter ie £10 for each account - or just one payment of £10?

[zootscoot]

Its £10 per company irrespective of the number of accounts held.

[Bona]

Im interested in any GMAC issues please keep in touch

[CROYLAND]

Well, I must say a very prompt service from GMAC and mortgage statements for all 5 accounts I requested received today - less than 5 days since request!

 

But does anyone understand these statements?

 

I have identified the Unpaid DD fees and monthly arrears fees on 1 of the accounts to total just over £1000

 

What I can't work out is why, on an interest only mortgage, my balance has increased steadily every month.

 

I was on a fixed rate mortgage deal and the loan was taken out in Dec 2002.

 

Although I made payments every month by what seems to be a fixed monthly amount, did not miss a payment in the first 2 years of my mortgage, on average there seems to be a shortfall between my interest debited, and my direct debit received of around £10 per month.

 

Even looking at calendar months where the number of days are the same, the amount of interest debited is never the same.

 

I then have some months where interest is debited as normal on 1st, my DD payment is received but then there is another interest debit on 15th.

 

I have a £100 fee for them instructing solcs, a £50 fee 'HOME VISIT NON ATTEN' and £604.50 solicitors costs.

 

All this meaning on the 1 account, when I redeemed the mortgage, (being charged 1 months interest redemption on the day of completion which was the 21 after already being charged the full months interest on the 1st) meant the mortgage I redeemed was £4015 more than I had borrowed.

 

Then, on a totally different account, I had a 2 year fixed rate mortgage deal which I took out in Feb 2004. By Jun 05, my circumstances changed and I needed a further advance on this property. But they would not give me a straight forward further advance, instead I had to 'redeem' the original mortgage and take out a new one. Looking at the statements I have received today, I appear to have been charged a redemption fee of £2100.79, a deed production fee of £40 and a redemption admin fee of £155.00. When all this was going on from a GMAC a/c TO a GMAC a/c?

 

Has any got any ideas of what my next move should be?