Money Care Uk

tozza

Just had the call from "Claude" then "Grant" - apparently I am owed at least £17k maybe more ?? Email gives little away and website is limited.
They are calling back at 4-00pm to hear my decision - which - thanks to you guys and my innate suspicious nature - will be a resounding NO.

Amazing isn`t it that the "vulnerable" and "greedy" are always there to be targeted - I must admit they are slick - I get at least three "bucket shop" calls a week and can smell them immediately - this was more subtle and didn`t raise my suspicions right away - but thanks to you guys I am happy that they are just another bunch of merchant bankers and hope their 50 minutes phone bill is reclaimable for them !

Former_MSE_Alana

Hi,

We have recieved this repsonse from MoneyCareUK. MSE doesn't endorse anything a company says on the forum.

I think we should respond to the accusation here that we are using Advanced Fraud Techniques.

We would like to point out to you all that this is simply not true. The accusations are purely based on some users own opinion and are not a result of any dealings with Money Care UK. We are a legitimate company offering a legitimate service.

In response to post #16

You are correct, brokers are allowed to charge what they like for a service. However as I am sure that you are aware, excessive or unfair charges are a potential breach, of the Mortgage Conduct of Business and TCF guidelines.

Debt consolidation is allowed, we never said it wasn’t, however as you quite correctly say this must come with documentation outlining the true cost of doing so and any adverse consequences. We primarily deal with brokers who have not adhered to these guidelines.

We audit information requested under the Data Protection Act from the lender, broker, solicitor and surveyor.

Kind Regards

Ian Morris

Email – mse@moneycareuk.co.uk

dunstonh

Thank you Alana,

I will just say that my posts are in response to the posters here and what they say were told on the phone. I am posting on the assumption what they are posting is a true reflection. The fact there are several posters repeating the same things, indicates they are.

I will add a response though.

You are correct, brokers are allowed to charge what they like for a service. However as I am sure that you are aware, excessive or unfair charges are a potential breach, of the Mortgage Conduct of Business and TCF guidelines.

So, why are posters here being told on the phone that brokers charging a fee is wrong? Or that the maximum fee is 0.5% when there is no maximum fee?

Some brokers are greedy but there is no definition if what is excessive or unfair.

Under the criteria of not charging more than 0.5%, my own mortage advisers would be breaking that rule at times as they are independent (so have to be fee based) and have a £500 charge. So, any borrowing under £100k would be wrong on this [made up] 0.5% rule. There is no way on this planet you could get a £500 fee classed as excessive or unfair.

My compliance company feels that anything over £10,000 is likely to be classed excessive. Personally, I think that is too high but its what they feel an adviser would struggle to justify taking. I know of one case that is before the FOS (I as initiated the complaint) where the adviser took £32,000. Yet the FOS are not ruling on that point as disclosure was adequate (although it was a secondary point as there were other failings where it is likely to be successful).

jasonharden

dunstonh wrote: »

The law society and ministry of justice do not allow cold calling of cases where legal action may be required. So, thats just another rule breach you have there. Solicitors can get struck off for dealing with cold call cases like this.



Sorry dunstonh, but this statement is incorrect. The MOJ rules specifically Rule 8 of the client specific rules state:

'Where business is introduced to a solicitor, the business must not act in a way that puts the solicitor in breach of the rules governing solicitors conduct'

In addition the MOJ own guidance on Marketing states that cold calling is only against the rules if the person is TPS registered and they have not opted in. Cold call when the person has expressly stated they do not wish to receive calls.

So to summarise, no company is breaking the rules unless the case WILL be referred to a solicitor and not if it may be required. If the company is using their own investigators or a third party who is not a solicitor, there is no rule breach.

magpiecottage

LynneRegan wrote: »

They explained that they had not written to me as their headed paper has not been printed yet. Sorry, this still does not convince me they are not advance-fee scamming.

You can print a letter on blank paper and incorporate the letterhead as you go.

That way you only print what you need when you need it.

So the excuse seems pretty lame.

JanetGilbert

Having read all the above threads, I would appear that I have been duped in believing they are above board. I had three conversations with them last week and then was completely taken in when they told me I had a very good claim of over £10K. I then paid the £499 with a credit card. I am still waiting for their official paperwork to come through.

How stupid could I have been?! I now need help to reclaim this money back.

HELP

Jan Gilbert

Common_Sense_2

Send them a letter by registered mail stating that you wish to cancel the contract with them and demand the return of your money. As you are within 14 days you should be fine. if they try to delay refunding, talk to your Credit Card issuer and they should be able to refund you adn then take the money from them under s75 of the CCA

Former_MSE_Andrea

Moneycareuk has asked us to post a response on its behalf. MSE doesn't endorse anything a company says on the forum


Janet, if you're unhappy with our service and would like a refund we'll happily process that immediately. Could you either return our phone calls or email us on mse@moneycareuk.co.uk.

Kind Regards

Ian Morris

fish8513

Hi, just joined the forum, i had a call from MC uk yesterday telling me that my mortgage broker has done me wrong and i could be owed 15k+ for all of the above reasons, broker fees, consolidated loans etc, they are asking for a £99 up front fee (should be £499 but waivered) they are calling back next week, do i trust them? are they a legit company? it all sounds very tempting.

londonlion

I am talking to moneycare in 30 minutes. I have refused to pay up front or give credit card details. they have said if pay £99 py paypal my payment is safe. There is no 499 fee. But their terms and conditions do say they take 25% commission. I don't mind paying the fee or their commission. I am just worried that not one single person on the forum has had a happy ending with this company. I am now very worried about even paying by payal. Can anyone relieve my fear!!