Secured loan £30 charges!

Hodgehappy

A friend has a second secured loan on her house (Her Mortgage is with Sant). From a recent SAR on this loan with this other company contains lots of collection activity charges when they have been late with the payments.

My question is what letter should they use to request / claim these back as this is a secured loan so not a mortgage one. Thanks

CHR15

Why does your friend think she should not incur any late payment fees?

pvt

Hodgehappy wrote: »

A friend has a second secured loan on her house (Her Mortgage is with Sant). From a recent SAR on this loan with this other company contains lots of collection activity charges when they have been late with the payments.

My question is what letter should they use to request / claim these back as this is a secured loan so not a mortgage one. Thanks

A secured loan is a mortgage. If Sant have the first charge on the property then this company presumably have the second. It's a second mortgage.

I'm puzzled as to what your point/question is? Whay are the charges recoverable?

pvt

Hodgehappy

pvt wrote: »

I'm puzzled as to what your point/question is? Whay are the charges recoverable?

pvt

[FONT=&quot]The FSA deems these charges to be excessive as they do not reflect the actual true cost of administering accounts come about from the[/FONT][FONT=&quot] FSA action against Redstone and DB Mortgages[/FONT].
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You have answered my question though by saying it is deemed as a second mortgage. Perhaps that was my confusion - Thanks
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