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claiming your Mortgage arrangement fees
hampyland
Posts: 4 Newbie
I was cold called today by a company called C and G financial (claim and Gain). The told me that my mortgage arrangement fees that were added to my initial mortgage (£995) had been included in the mortgage interest payments over the life of the mortgage. They said that this was wrong and I was entitled to claim the money back. They did some rough calculations and informed me that it could total about £13,000. They then went on to say that if they were to claim the money back for me, they would require a payment of £995 up front to cover solicitor's fees but that if unsuccessful I would get the money back.
1. Has anyone dealt with this company?
2. Has anyone heard of these claims before?
1. Has anyone dealt with this company?
2. Has anyone heard of these claims before?
0
Comments
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I'm curious to know what makes you think this is anything other than the advance fee fraud it most blatantly is. I hope you haven't paid them anything.0
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How exactly could £995 inflate to £13,000 even with the impact of compound interest? This is so clearly a scam - do you really believe it isn't?0
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Adding the fee to the mortgage is not wrong - even now 99% of the people I speak to want to add the fee.
Secondly as above, how £1k can incur £13k in interest is beyond me. At most you might be able to get the interest on the fee back...
£1k at 5% is around £5 a month - £60 a year.
£1500 over 25 years.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
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In my defence I checked the company out and they are registered on the government claims regulation website.0
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How on earth do they even know the details of your mortgage arrangement?!0
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aside from the fact that in every mortgage I have ever taken the banks make it crystal clear that if you add it to the loan, you pay interest on it...yet most of us do as it is one less thing to pay out at the time0
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Perhaps we should set up a business that helps people claim back the £995 they paid to a clown who phoned them up with a fairy tale.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
I am stunned that anyone could actually fall for that garbage.
Fortunately you had the sense to ask before forking out a grand.0
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