MSE News: Mortgage firm to pay £500,000 compensation for unfair fees
Former_MSE_Guy
Posts: 1,650 Forumite
This is the discussion thread for the following MSE News Story:
"A sub-prime firm must pay over £1.1 million in fines and redress for treating customers in arrears unfairly ..."
"A sub-prime firm must pay over £1.1 million in fines and redress for treating customers in arrears unfairly ..."
Read the full story:
Mortgage firm to pay £500,000 compensation for unfair fees
Mortgage firm to pay £500,000 compensation for unfair fees
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Comments
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That is actually quite a low fine by FSA standards. I know you say whopping in your article but FSA fines for national companies are usually in the millions.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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One of the next companies they should look at is Capstone Mortgages, they are doing more a less the same as this company that has been fined.
It has just taken me over 2 years to get back fees from 2007, which were incorrectly charged at the time which I then paid as an arrear, when I asked for it back they gave me !!!!!! all and just took it off the mortgage balance which was fair enough but by god it took a long time.0 -
Yeh I agree with you mackers
They do need investigating capstone are one of the worst companies I know. Not only do they charge extortionate fees £115 a month litigation management fee, £85 a month arrears management fee, £50 late payment fee, etc etc. But they are also rude and abusive to their customers, and their first route to help people in arrears is to take them to court and repossess their home as fast as possible. They are just vultures. !!!:mad:0 -
Interesting to see that Redstone is top of the pile on the list. I've got my mortgage with them. I originally had it with Amber but it was sold. I've always had the money to pay the mortgage so no problem (yet). I'm also relieved to be on a lifelong tracker as far as I can tell. Not a good tracker but at least it seems to prevent them hiking the rates due to their own mismanagement.0
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