MSE News: Mass refunds for thousands of GMAC mortgage customers

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  • webbym
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    wizk1 wrote: »
    now let's hear the banks say the same thing regarding overdraft charges :d
    i had a gmac mortgage and had to pay an early settlement fee of around £8000 what chance have i of getting any money back
  • webbym
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    :mad::mad::mad:Can anyone tell me will i get any money back. I paid about £8000 in early settlement
  • francescicluna
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    I still have a GMAC mortgage with a standard variable interest rate, but it was sold on to Mortgage Express, and the interest rate I am now paying is higher than the variable rate that Mortgage Express charges to it's customers. I went to the FSA but they said there was nothing they could do about it as they were in their right to charge what they wanted to. What a carry-on!!
  • Mssunny35
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    Hi

    Did GMAC move your mortgage to Mortgage express, as i had mine with GMAC and they sold it Mortgage express, if yes does this not include us for the refunds

    Mssunny35
    batley1 wrote: »
    I used to be with GMAC, but they sold my mortgage to someone else(without my knowledge) and after the speaking to them today Ive found out a few things I thought I would share:

    1. Anyone who has or had a mortgage account with GMAC will receive a letter informing them of their entitlement to a refund at the latest by the 30th November.

    2. If you are entitled to a refund you will then receive a cheque within 30 days of receiving your letter.

    3. If you have moved address since having your mortgage with GMAC, you need to ring them and update the details, or everything will be sent to the address on their details.

    In theory, the money could be here before christmas, so could be a nice bonus. As someone who went through some hard times with my mortgage, when the interest rates were at the highest, this is very welcome and I will try to keep you updated.
  • batley1
    batley1 Posts: 82 Forumite
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    No they sold it to Wave Lending....so I wont be recieving a refund on the redemption, as i never redeemed it, but i was charged for payments not made by direct debit, and for solictors fees.
    A Gmac refund client : Letter of Confirmation received, now awaiting £311.04 cheque - Please feel free to PM me with any questions about the GMAC situation!

    :j All kids christmas presents bought by 29th October! :j
    :rotfl:I survived the Sainsburys Toy sale Scrum!:rotfl:
  • gpaul49
    gpaul49 Posts: 92 Forumite
    edited 6 November 2009 at 5:10PM
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    i had arrears was on a rate of 10% i coud'nt afford it any more and moved it away last year was charged £15 for no direct debit didnt have a bank account only a passbook building society £50 arrears of £ 2000charges taken to court i had to defend myself was with them from 2001 to 2008
    they have made an offer of a paltry 450 they even called up
  • batley1
    batley1 Posts: 82 Forumite
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    Interesting point for me though.....

    The people GMAC sold my mortgage to have exactly the same fees...so when this comes through I shall be writing a letter to them.....
    A Gmac refund client : Letter of Confirmation received, now awaiting £311.04 cheque - Please feel free to PM me with any questions about the GMAC situation!

    :j All kids christmas presents bought by 29th October! :j
    :rotfl:I survived the Sainsburys Toy sale Scrum!:rotfl:
  • gilligansyle
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    GMAC sold my mortgage to Kensington, but they still had a controlling interest of some sort in it. I am no longer with them but have had a letter today saying I am due £108.54

    This is for non DD charge when in arrears

    repayment charges applied to arrears fees

    part of the solicitors fee

    Have rung and confirmed my identity, just waiting for the cheque.
    Debts at LBM - Mortgages £128497 - non mortgage £27497 Debt now £[STRIKE]114150[/STRIKE][STRIKE]109032[/STRIKE] 64300 (mortgage) Credit cards left 0



    "The days pass so fast, let's try to make each one better than the last"
  • batley1
    batley1 Posts: 82 Forumite
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    thought I would update also! I have recieved my letter, and am now awaiting my cheque also.

    If anyone wants a full transcript of the letter, I'll stick it up, but they have found that i need to be refunded £311.04

    However please note, I've had to ring up and confirm where I live and confirm my identity(basic checks).

    Just a quick note though, if the mortgage was in joint names, and you do not have a joint bank account(they send you a cheque in joint names), then you need to write to them to advise who the cheque should be made out to, and both parties sign the letter. Thought I would add this in as some people may have problems with this part.

    The refund will arrive within 30 days of the date of the letter, so 19th December, lets wait and see....
    A Gmac refund client : Letter of Confirmation received, now awaiting £311.04 cheque - Please feel free to PM me with any questions about the GMAC situation!

    :j All kids christmas presents bought by 29th October! :j
    :rotfl:I survived the Sainsburys Toy sale Scrum!:rotfl:
  • Mini_P
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    I was a former customer. Since being a customer I have moved house and also changed my name by Deed Poll.
    I wrote to them initially on reading the weekly newsletter. 21 days later and no response so another letter to them.
    I'm glad this thread is here because I'll be giving them a call on Monday (are they open on Saturday?)
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