Mortgage charges

PONYTAIL_2

Hi can anyone help me. In 2004 my husband became ill and we fell behind with our mortg payments. Last October we moved mortg and they have charged me an additional £2000.00 (interest due to settlement date). Can I claim these charges back.

Mark7799

Have they said what this interest charge relates to? It sounds like it MAY be additional interest accrued as you didn't make the payments as per schedule (difficult to offer much advice without more detail). Why do you think you could be able to reclaim this?

MarkyMarkD

Almost definitely not. Interest charges are almost never reclaimable. The only mortgage charges reclaimable are MEAFs (Mortgage Exit Administration Fees) and even these are only reclaimable to the extent they increased between when you were offered the mortgage and when you redeemed it.

To be honest, it sounds more likely that you've been charged an ERC (Early Repayment Charge) - but you were very poorly advised to redeem your mortgage during a period when an ERC applied. Why did you remortgage, and who advised you to do so, and why didn't you notice this charge on your redemption statement before you agreed to remortgage?

PONYTAIL_2

Mark7799 wrote: »

Have they said what this interest charge relates to? It sounds like it MAY be additional interest accrued as you didn't make the payments as per schedule (difficult to offer much advice without more detail). Why do you think you could be able to reclaim this?

we changed our mortg and they charged us an Interest Due to Settlement Date' £2037.61 . This comprised of unpaid payment fees of £20.00 each time, £47.00 counsellor instruction fee 21 times, £172.25 -625.63for litigation admin fee. Can I claim these back.

PONYTAIL_2

MarkyMarkD wrote: »

Almost definitely not. Interest charges are almost never reclaimable. The only mortgage charges reclaimable are MEAFs (Mortgage Exit Administration Fees) and even these are only reclaimable to the extent they increased between when you were offered the mortgage and when you redeemed it.

To be honest, it sounds more likely that you've been charged an ERC (Early Repayment Charge) - but you were very poorly advised to redeem your mortgage during a period when an ERC applied. Why did you remortgage, and who advised you to do so, and why didn't you notice this charge on your redemption statement before you agreed to remortgage?

We had no choice but change our mortgate has we needed money from our house to pay tax man. Even thou my husband was in intensive care for 3 months and they new my financial circumstances they kept on putting charges on my mortg account. Also we had to pay £3000 early repayment charge overall moving our mortg cost us £6000.

MarkyMarkD

Was there a reason why you couldn't borrow more from your existing lender? Or, for that matter, take out a second charge loan. Incurring £6,000 in costs just to remortgage is a very, very expensive way to borrow an additional amount.

PONYTAIL_2

MarkyMarkD wrote: »

Was there a reason why you couldn't borrow more from your existing lender? Or, for that matter, take out a second charge loan. Incurring £6,000 in costs just to remortgage is a very, very expensive way to borrow an additional amount.

No they wouldnt help us at all. We tried our bank but because of my husbands illness and him unable to work for some 8 months they wouldnt consider a loan. We just had no choice all other doors were closed.

k1mmie

Who was your lender Ponytail?

PONYTAIL wrote: »

No they wouldnt help us at all. We tried our bank but because of my husbands illness and him unable to work for some 8 months they wouldnt consider a loan. We just had no choice all other doors were closed.

homer_j_3

fees for admin charges you can try and claim back but you would be going to down the bank charges route and may have to spend more to go court if they do not agree with your arguments.

Where a service has been levied like costs for taking you to court and employing solicitors, I think you would struggle. It sounds like a Future or Kensington kind of mortgage to me.

Did a counsellor ever come out to visit you on the dates that you have been charged? If not I would be asking for evidence.

PONYTAIL_2

No we never had anyone visit us or telephone us. The mortg was with Matlock bank.