We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Mortgage Arrears Admin Charges
ROCKINGHAM
Posts: 982 Forumite
I see Yorkshire BS are refunding these Charges. On the FCA website it refers to their error in charging these when the customer is not in arrears by 2 months or more and they are the first to do so.
I have contacted my Mortgage Company as I have 9 such charges, mainly due to my new employers paying my salary the last working day of the month - so I had to cancel my DD and transfer the funds once I was paid which then used to take 3 working days.
Now from reading what is on the FCA website it does suggest that these charges should not have been made plus according to the FCA Handbook - lenders can issue admin charges when valid but they can only reflect the cost to them - mine are £35 for sending a standard letter.
My Mortgage Company have telephoned me to say that they will not refund any of the admin charges and £35 reflects the cost to them. Is there anything else that I can do. TIA
I have contacted my Mortgage Company as I have 9 such charges, mainly due to my new employers paying my salary the last working day of the month - so I had to cancel my DD and transfer the funds once I was paid which then used to take 3 working days.
Now from reading what is on the FCA website it does suggest that these charges should not have been made plus according to the FCA Handbook - lenders can issue admin charges when valid but they can only reflect the cost to them - mine are £35 for sending a standard letter.
My Mortgage Company have telephoned me to say that they will not refund any of the admin charges and £35 reflects the cost to them. Is there anything else that I can do. TIA
0
Comments
-
You need to escalate it as a complaint against the lender.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.5K Work, Benefits & Business
- 604.3K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards