Do mortgage companies do anything about

Sappoo21

Do mortgage companies do anything about complaints against them i am currently complaining about London M Co about extra arrears fees added when a court has said what i shoul pay.
PS help v appreciated

Dan_1976

They are meant to! But they push it, more so when they have you by the short and curlys!

dunstonh

Mortgage arrears charges havent had the same successes as overdraft charges. There are many who have pursued it and gone to court and lost and faced costs for that as well. The big difference is that most (not all) of the banks packaged the charges as service charges rather than penalty charges.

Much in the same way now the banks have revised their overdraft charges to be service charges and these are compliant... and often more expensive than what the old charges were.

silvercar

The court have said what you should pay, but presumeably they haven't ruled on what charges/ fees the lender can make?

So it may be that the court have said a repossession is suspended provided you pay £200 off the arrears each month, for example. That wouldn't mean that the lender can't charge for your account being in arrears. It wouldn't stop say £50 of your arrear payments being used to pay late fees/charges rather than go to reduce your debt.

Annoying for you as it means your account willbe in arrears for longer than you thought.

Sappoo21

thanks for reply yes they have suspended possesion at a steep £850
i believed that was all i would be paying.
no arrears fees

dunstonh

i believed that was all i would be paying.

No. You agree what you pay into the mortgage but the lender is still entitled to make arrears charges unless told not to.

onephilipbutterworth

My step-daughter is in a similar position and I am just trying to sort it out. Did your mortgage company charge you for missed direct debit charges as well? Do you have to pay these or do they come under the Bank Charge umbrella? They also charged an extortionate amount (£ 650) for Solicitor's fees to take her to court, that is more than the conveyance cost in the first place.

silvercar

Sappoo21 wrote: »

thanks for reply yes they have suspended possesion at a steep £850
i believed that was all i would be paying.
no arrears fees

It may be that the lender expects you to pay £850 a month as that has been agreed by the court. Could be that the lender splits the payment so that £50 of the £850 goes to arrears fees and the remainder to your monthly payments. That way the lender isn't in breach of the court order.