Reclaim Mortgage Default Charges

jythlk

Hi Guys


I have noticed all banks charging very unfair and unproportionate amounts as charges and/or penalties for default mortgages. Sometimes they send a man and charge us £100. Thanks to government under the new government guidlines to banks and mortgage institutions they cannot commence legal actions till 6 installments go arears. It used to be 3 before.

Can anyone tell me if we could get together and reclaim these charges from banks/mortgage institutions too.

Thanks

jythlk

Has anyone claim or try to claim default charges for mortgages.

_Andy_

You only posted 3 mins ago.
If you do a search the forum this has been discussed frequently elsewhere.

jythlk

Andy

Thanks for the information. All I have come across in other forums is about bank and creditcard charges. I could not find any previous post on mortgage default charges or hidden commission claims.

Look forward for more news and advice.

_Andy_

Try something like "mortgage charges" or have a look in the forum 'other reclaiming..'

Wutang_2

jythlk wrote: »

Can anyone tell me if we could get together and reclaim these charges from banks/mortgage institutions too.

No problem - be at mine for about 7 and I will put a pizza in the oven.

fleebert

will there still be pizza left at 7:30pm? i might be a little late.

Mrs_Bumble

jythlk wrote: »

Hi Guys


I have noticed all banks charging very unfair and unproportionate amounts as charges and/or penalties for default mortgages. Sometimes they send a man and charge us £100. Thanks to government under the new government guidlines to banks and mortgage institutions they cannot commence legal actions till 6 installments go arears. It used to be 3 before.

Can anyone tell me if we could get together and reclaim these charges from banks/mortgage institutions too.

Thanks

All lenders are required to issue documentation in relation to all the possible charges that can be applied and so customers should be aware.

Furthermore when an account is in arrears, a letter is sent each month statementing how much in arrears and what charges are going to be applied.

Each organisation sets their own fee level and the FSA are being leaned on currently to step in and ensure that some lenders particuarly sub prime treat customers more fairly.

If you are encountering payment problems then their are organisations that you can contact like Shelter who will offer guidance on what help is available and what a lender can or cannot do.