Jump to content


GMAC Mortgage


chris5219
 Share

style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 4882 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

Hi All,

 

After reading a thread by Louisk successfully taking Kensington mortgage company to court I'm thinking of doing the same with GMAC our old mortgage company. We re-mortgaged with them in 2003 because of our poor credit rating this was the only mortgage we could get (or so they led us to believe)It was fine for the first year the interest was around 7%. It was a low start one that went up after the first year. So in 2004 it went up to around 8% and the re-payments went up about £100.00 per month and it wasn't a fixed mortgage so every time the interest rate went up so did our repayments sometimes this was about 4 times a year. We started to fall behind on the repayments but each time making an arrangement to pay back the arrears. GMAC were charging us £50.00 per month as the account was more than one month in arrears. We also received court summons on 2 separate occasions, both times it was GMACS fault we got these. The first time I was called at work and told a letter was about to be sent and I should pay to stop the letter, I asked how much she said whatever you can afford. I paid them £10.00, but they still issued us with court summons I called them and I was told we should never have received them. When I checked our mortgage statement I saw we had been charged approx £600.00 for solicitors and court fees even though it had never actually gone to court. A similar thing happened again about a year later. We got further into arrears again I phoned to make an arrangement the lady I spoke to asked if we could pay an extra £100.00 off the arrears (I had already offered £125.00 per month but needed to pay an extra £100.00 to get the arrears down to an amount that would stop it going to court) I said yes. In the meantime we received court summons again so I called them again asking why? I was told because the interest rate went up again!! it brought the arrears above the "safe limit" again, but I was told it was a misunderstanding and that we shouldn't have received the court summons. Again we were charged £425.00 for this "misunderstanding". We have since re-mortgaged (even though we did have a poor credit rating I made sure the mortgage was paid with no arrears for a year so we re-mortgaged and got an interest rate of 5.5% fixed for 3 years. Much better) although we paid £5000.00 ERC it was worth it because GMAC's interest rate by this time was 9.8%. All these charges were paid off by our new mortgage company, but I want to claim back the £50.00 per month arrears charges and the solicitors and court fees which amount to £1025.00 alone. I think we've kept all the statements from GMAC so I just have to dig these out.

 

I'll let you know how I get along with this one.

 

Chrissie

Link to post
Share on other sites

Hi zootscoot,

 

Yes I'll do a review on GMAC, they really are the pits to deal with and I'll keep you posted. I've dig out all the charges I could find they add up to £1502.00. They charged an early exit fee of £5000.00 too but we were aware of that, and with the new mortgage we've got now we save approx £250.00 per month and its fixed for 3 years we managed to re-mortgage just before Christmas last year which is just as well the one with GMAC was repayment only and with the interest rate going up all the time we wouldn't have been able to afford it.

 

Cheers

 

Chrissie.

Link to post
Share on other sites

Im in the process of having a go at GMAC have you looked at your original agreement Ist some of there mortgages say you only have to pay erc in the ist 3 years also all solicitors costs have to be reasonable do you have it in writuing that they made a mistake what paperwork do you have from them and the court

Link to post
Share on other sites

they really are the pits to deal with and I'll keep you posted.

 

Please do...Im stuck with

 

GoingMadAboutCharges for a while yet, but revenge WILL be mine.....

I Wish you everything you wish yourself.

 

NatWest Claimed £1,639. Accepted £1,344.

Natwest Paid me again as GOGW £1,656. Yes they can have it back if they say please.

Barclays 1 Claimed £1,260. Won by default. Paid in full

Barclays 2 Claimed £2,378. Won by default. Paid in full

Birmingham Midshires. Claimed £2,122. Accepted £2,075.

Link to post
Share on other sites

Hi Bona,

 

We have it in writing you pay exit fees for first 4 years so we had to pay £5000.00 just to get out. They are steep but its swings and roundabouts we are saving about £250.00 per month with our new mortgage so it will eventually pay for its self.

 

No I dont have it in writing they made a mistake just verbal on the phone. I was naive enough to think as it was their mistake we wouldn't be charged...wrong!!

We got full court papers addressed to both me and my husband even with the time and date we were due to appear. But on the statement they charged solicitors fees only. I always promised myself somehow I would try to claim these charges back, but at the time we still had the mortgage with them so we didn't want to "rock the boat" so to speak. Now we've re-mortgaged I'm going after them.

 

Bona and Tonycee Good luck with GMAC.

I'm on a mission I've got Alliance and Leicester our old bank on my list also dealing with American Express and their DCA's Newmans, AIC and Cr*pQuest.

 

All the best

 

Chrissie

Link to post
Share on other sites

  • 8 months later...

We had a mortgage with G-Mac from 2002/2007 and in that period we were charged a total of £2500 for all sorts of fees,arrears fee direct debit fees etc. It was only recently we decided to try and claim our fees back that we got into discussion with them, they refused and we have gone through the process of registered letters back and forth. there response was sorry we cant help, at this point most people will give up, but out of pure anger I have issued a court summoms against them, I might not win but there again I might. It has cost us £80 to issue just over ones months arrears cost with g-mac but the fact we are going to go to court with them has given me a little bit of self pleasure, like the old saying SEE YOU IN COURT, I will. I will let you no the out come. Bring it on is what I say.:)

Link to post
Share on other sites

  • 2 weeks later...

Chubbykins

 

interested on how you get on , got my erc back and £24,000 over paid solictors fees just about to start oc arreas fees ect and interest on costs which they have not paid, most people seem to get there penalty charges back

Link to post
Share on other sites

 Share

  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...