Mortgage Charges and change of terms

M7ck

In 2006 I took out a mortgage with a company called Capstone who were then taken over a couple of years later by Preffered Mortgages. I have recently had a few quite high late payment charges from Preffered that I disagree with. I phoned up the company and asked for a copy of the document that I originally signed that says I accept these absurd charges. They have sent me a copy of my original mortgage application as well as a copy of Preffered mortgages terms and conditions that they say is valid from when I took out the original loan.

I don't believe I agreed to these charges and I think it's unfair for them to quote terms and conditions from a company that I never signed an agreement with. Surely I am tied to the original agreement with Capstone that makes no mention of these charges.

Can anyone please advise how I should proceed with this.

Thrugelmir

Your original mortgage application allows the lender to sell your mortgage on to whoever it wishes. Late payment charges can be set as the lender wishes. Providing that they aren't excessive and reflect the cost of administering the arrears. .