Admin charges

hypoboy

Hi, I was wondering if anyone can help me. I am being charged £40.00 per month for beng in arrears with my mortgage. All the company does is add it to the bottom of my monthly statement as an Admin charge, no phone calls or seperate letters. If I could actually reclaim these costs I would no longer be in arrears which is frustrating. I am worried that there may be repercussions, e.g they may get a bit shirty and demand the whole loan to be repaid, Any advice would be most welcome.

financial_solution

hypoboy,

The only way they can request all the monies in one go is via repossession which would mean the lender going to court. The arrears would have to be significant for this to happen.

Have you spoken to the lender about your frustrations?. If such charges are part of the terms and conditions of the mortgage they will probably not waive them, but if you dont ask you dont get.

Good luck,

mark

hypoboy

Thanks, I'll give them a call and see what they say. I'll let you know how I get on, you never know I may find out something useful to pass on.