SPML/Capstone -Repaying the mortgage

CRL1978 · 7 July 2009 at 2:50PM

Hi there,

I have a mortgage with the above & wrote to them explaining that I was having difficulties paying the mortgage in October 2008, won;t go into their shocking admin as I'm sure eveyone is aware!

Have put the property on the market & have had an offer, there is more than enough between the offer & what is due, even taking into account the arrears of £3k.

Upon speaking to Capstone today I had to confirm the price I had the flat on the market, the offer that I was made and am now a bit concerned that I am going to be hit with even more fees from them than just the mortgage, early repayment charge & their monthly arrears fee.

I checked my mortgage offer & it states that the early repayment charge maybe more or less than that stated, (this was issued in 2007), due to changes in interest rates, but when I questioned this with Capstone today they couldn't confirm what the interest rates would be applied....surely in the current climate they cannot say the interest rates have gone up & I would need to pay more than that stated on my mortgage offer, (again questined this & was not given a straight answer).

Sorry if this doesn't make much sense! But has anyone else sold their house/repaid a SPML/capstone mortgage that was in arrears?

happybroker · 8 July 2009 at 11:45AM

why not ask them for a redemption statement and then you would have the figure as it now stands

CRL1978 · 8 July 2009 at 3:09PM

Hi there,

I have tried that, they will not release this until nearer the time that the sale is concluding.

Infact they won't confirm over the phone or via email that they have my solicitors requests, they need to write out to me!

happybroker · 8 July 2009 at 4:26PM

if you ask for a redemption figure they HAVE to provide you with one, don't take no for an answer, escalate it as a complaint.

edit.....they will do this in writing only though

CRL1978 · 14 July 2009 at 12:14PM

Am now at a total loss with Capstone/SPML, called them last week & advised my solicitor had written to them, they have no trace of his letter. I spoke to Capstone on 3 seperate occasions last week and.........

Also advised them I had sold the property, the price etc.......got a letter through the post at the weekend from their solicitors, (who had appreantly sat on my offer of replayment of the srrears for over 3 months), to say that they have been instructed to commence repossesion of the property to sell on the open market! & that soon the sherrif officers will be coming to evict me but I should just write to them & tell them when I will vacate the property to save the embaressment.

I have emailed Capstone yesterday & today & despite them receiving & reading the emails I have had no acknowledgment with regards to what is going on.

happybroker · 14 July 2009 at 12:22PM

send a letter by recorded delivery and ring up with the tracking number as soon as you can confirm it has been received. Don't put the phone down until you have been put through to some one who can help.

copy this in to their solicitors (have you tried ringing them by the way?) and also send that recorded.

little_miss_spender · 16 July 2010 at 12:34AM

Also a piece of advice they are swines if you speak on the telephone record it and definately agree with the above recorded delivery letter is best n save yourself a copy.

Have they actually repossessed your house or have you a suspended repo at the moment??