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Are penalties Arrears?
philrphil
Posts: 3 Newbie
I had my house repossessed last year by SPML. They told the Court that I was several months in arrears. I didn't challenge the possession order.
Shortly after the eviction I took some time to analyse the mortgage statement to see where I had gone wrong. To my surprise I have discovered that nearly all the "arrears" were not "arrears" but they were penalties for late payment and so on. My actual arrears were less than 7 days.
When I pointed this out to SPML I was initially told by the adviser at Capstone that they would never repossess based on charges only. Subsequently their solicitors got involved and stonewalled me by saying that I should have raised this with the Court at the time of the possession and that now is too late. I've also contacted The Financial Ombudsman and The Court but neither can help because the Court had already granted the possession order.
Maybe I'm grasping at straws but it seems unfair to me. Any comments gratefully received.
Philrphil
Shortly after the eviction I took some time to analyse the mortgage statement to see where I had gone wrong. To my surprise I have discovered that nearly all the "arrears" were not "arrears" but they were penalties for late payment and so on. My actual arrears were less than 7 days.
When I pointed this out to SPML I was initially told by the adviser at Capstone that they would never repossess based on charges only. Subsequently their solicitors got involved and stonewalled me by saying that I should have raised this with the Court at the time of the possession and that now is too late. I've also contacted The Financial Ombudsman and The Court but neither can help because the Court had already granted the possession order.
Maybe I'm grasping at straws but it seems unfair to me. Any comments gratefully received.
Philrphil
0
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