reclaiming charges on mortgare account

Noz

borgbaiter wrote: »

hi all

i see no difference between mortgage penalties and bank penalties. unfair contract terms are just that. i will be reviewing my charges and probably try recaliming them two. its not easy to get out of a downward spiral with the bank taking your money from one sie and the mortgage company joining the feeding frenzy from the other end. no letter ever written is worth £35-00 !!!
:mad:

borgbaiter

Just be careful borgbaiter, there has been mixed success. Some have been able to reclaim the charges, others have failed and ended up with more costs to pay. Obviously its your choice but it does seem there is a higher risk with mortgage charges rather than bank charges.

borgbaiter

hi noz

its an old mortgage, so dont see too much risks.

my current mortgage and every other mortgage ive ever had never had any charges. just the chelsea one was a nightmare with them sending out letters weekly even when id caught up and was actually ahead on my payments.

the bank charge reclaims can be pretty random too.

Noz wrote: »

Just be careful borgbaiter, there has been mixed success. Some have been able to reclaim the charges, others have failed and ended up with more costs to pay. Obviously its your choice but it does seem there is a higher risk with mortgage charges rather than bank charges.

lynzpower

im in the process of claiming mine off abbey.

they charged me 70 x2 for one missed payment. this payment was sorted 2 days later as it was due to an almighty mess-up of my current account which was resolved speedily.

I am in process, and they have offered me 70 as good will gesture so far, so im holding out for the rest. saying that , the mortgage is closed down now, and i wasnt claiming till Id closed it completely ( flat sold, mortgage closed)

Awaiting court allocation questionaire at the mo, so only part way through the process.

Noz

borgbaiter wrote: »

hi noz

its an old mortgage, so dont see too much risks.

my current mortgage and every other mortgage ive ever had never had any charges. just the chelsea one was a nightmare with them sending out letters weekly even when id caught up and was actually ahead on my payments.

the bank charge reclaims can be pretty random too.

Hi again borgbaiter. Hope my post came as it was intented, as a cautionary note rather than to discourage you.

Folks have come out of the process worse off than when they started, the procedure is much the same with bank charges, but lenders tend to defend mortgage charges in court far more than bank charges - and its a lottery from there, though it may never get to that.

Good luck!

bettyboop080404

Thanks borgbaiter its nice to see that there is someone out there that agrees with me - as you state unfair charges are unfair charges and as yiu rightly say no letter letter ever written is worth £35 if they were i think everyone would be writing letters to whoever and whichever company we could and asking them to pay us £35 cos thats what it cost us to send it. The mortgage companies are purely relying on the fact that people are just more afraid to attempt to reclaim these charges on a mortgage account than a bank account but like you say they only put you more in a downward spiral with these charges and they need us "mere mortals" to stand up to them and put a stop to this also i am sure there are many many more people out there whose dire mortgage situations could be helped greatly if a stop could be put to it or these people could simply reclaim the massive amounts of money they have been charged ontop of being in mortgage arrears

dunstonh

as you state unfair charges are unfair charges and as yiu rightly say no letter letter ever written is worth £35

I wrote a letter today and I am charging £2,200 for it. Its very fair as it will probably save around £40,000.

Charges are fair and legal when its a service.

Noz

http://forums.moneysavingexpert.com/showthread.html?t=512661

You may have missed the boat reclaiming now...

Tootsie_Roll

Noz wrote: »

http://forums.moneysavingexpert.com/showthread.html?t=512661

You may have missed the boat reclaiming now...

Thank god !!

SkintAgain

I am being charged £55.00 Per month!!! for being 3 months behind with the morgage... This has JUMPED from £25.00 PER MONTH FOR BEING 1-2 MONTHS BEHIND....... How can anyone say such charges are not rip - off ???
AND OTT !

kingkano

Tootsie_Roll wrote: »

I used to manage the mortgage collections department for one of the major UK lenders - each one of my collectors (I had 97) were allocated a case load of 500 cases; assuming that a letter is sent out each month for each case (not quite the case but many might receive 2 each month whilst some on arrangement wont get any) that equals £17,500 each month per collector. We didn't work on any sort of commission or bonus and the average salary was around £18k (7 years ago) so the charges raised are certainly not proprtionate to the actual cost in exactly the same way as bank charges.

Thats quite a simplistic view as you just taking the salaries vs the income from letters. Your not including the other associated costs - the building you were in, electricity, printer toner and maintenance, the pc systems, telephones, water, postage for the letters even! (not that I am defending banks of course - purely for debate's sake)