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MSE News: Kensington Mortgages to refund over £1m in unfair arrears fees

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This is the discussion thread for the following MSE News Story:
"The lender has been fined a whopping £1.2m by the FSA for hammering those behind on payments with huge charges ..."
"The lender has been fined a whopping £1.2m by the FSA for hammering those behind on payments with huge charges ..."
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The FSA has imposed a fine in this case on 'excessive' charges that it deemed punitive. But isn't that exactly the same argument that the FSA failed to uphold in support of those claiming bank excessive bank charges from their banks?
I don't understand the difference here, or am I being stupid? Why can they enforce 'unfairness' in this case but not in others?
I repayed a mortgage I had with Kensington after only having it for a year & they stung me for almost £8k in early repayment charges.
It was still the better option to move lender though, as I was interest only with them I ended up owing them more at the end of my mortgage due to the way they applied the interest!!!
Still gets me I had to pay them all that money, if I could get the money or some of the money back would be wonderful.
The news story says that the FSA found Kensington had overcharged between Jan 2007 and Oct 2008, so is this the only time you can claim in. If so, I would not be able to claim.
Hubby now converted to MSE :beer:
MEAF charge reclaimed = £50:T
Energy switch to capped rate + free case of vino
was with them from 2005-2008.
http://www.kmc.co.uk/spool._2f_kensington_2f_pdf_2f_customers_23_29053_23_File-MediaFile.pdf
Prior to that, a complaint can only be considered by the Financial Ombudsman Service if the firm you make the complaint against subscribed to the Mortgage Code at the time of the events complained about and would normally only be considered against the standards of that Code.
looks like i will only get maybe a returned direct debit fee.
i dont understand why they can say the returned direct debit is unfair but not the monthly arrears fee.
Yes. Proceed to make a complaint, (assuming it is for the right type of fees). Don't depend on them getting in touch with you.
Remember that 8% interest should be added by Kensington added the date of any fee charged to the date of refund.
You come here for advice, help and support- thats what I and like minded others will try to do.