kensighton mortgages

lady_in_need

my payment to kensighton mortgages should be £289 but I pay £401 my originally loan was for 30,000 and got into diffuicult I am in arrears of 12 grand that's why I pay this amount to bring it down it doesn't I am only paying about £11 off the arrears as they put interest on my loan and interest on my arrears does any one know if I can claim anything back I have asked the financial ombudsman but they also told me I couldn't claim the ppi on it. yet the ppi company have contacted me and sed I can claim my ppi back on it after being told no off financial ombudsman. hope you understand me I am now owing 42 grand on it including arrears took out in 2005 for 25 years I am 52 in depression and ill health just wondering please

dunstonh

does any one know if I can claim anything back

If you borrow money, you pay interest on it. That is how it works. you cant claim back interest you pay on a mortgage.

I have asked the financial ombudsman but they also told me I couldn't claim the ppi on it.

PPi is a different issue but its unlikely Kensington have any liability to PPI as they are a broker lender.

Claiming interest back is just a no go because it is normal to pay interest on what you borrow.

yet the ppi company have contacted me and sed I can claim my ppi back on it after being told no off financial ombudsman.

1 - did you pay PPI?
2 - who sold you the PPI and when?

I am sure the genuine PPI claims company also told you that most MPPI complaints get rejected by firms and the FOS and that it wouldn't be Kensington you complain to.

In reality, it is likely that you are not paying back enough each month to bring the debt down any quicker. Plus, you are still in the early period of the mortgage and little is paid off in the early years.

lady_in_need

didn't borrow more was just the one time I saw on telly about a firm charging more interest and was just asking if I can sort interest to be stopped as I get interest on loan and interest on arrear noticed you didn't understand that yet you jumped at my ppi no thank you

dunstonh

didn't borrow more

Mortgages, like most loans work by you borrowing an amount of money. Each month they add the interest payment and you make a monthly payment to cover the interest payment plus a bit to reduce the amount outstanding.

When you fail to make a monthly payment and go into arrears, the interest that is added to the mortgage does not go away. Your debt increases.

saw on telly about a firm charging more interest and was just asking if I can sort interest to be stopped as I get interest on loan and interest on arrear noticed you didn't understand that yet you jumped at my ppi no thank you

You can ask them whatever you like. However, unless there is good reason to reduce the interest, they dont have to.

You were the one that mentioned PPI. It is difficult to follow your posts as they lack punctuation and have poor grammar.

roonaldo

lady_in_need wrote: »

my payment to kensighton mortgages should be £289 but I pay £401 my originally loan was for 30,000 and got into diffuicult I am in arrears of 12 grand that's why I pay this amount to bring it down it doesn't I am only paying about £11 off the arrears as they put interest on my loan and interest on my arrears does any one know if I can claim anything back

It would be correct to charge interest on the money you owe, so no you wouldnt be able to claim it back.

yet the ppi company have contacted me and sed I can claim my ppi back on it

They will tell you anything you want to hear. Kensington are lender and dont sell anything direct to customers so you would need to complain to the mortgage broker if you felt it was mis-sold but I doubt they still trade.

after being told no off financial ombudsman.

You can only take a complaint to FOS after a complaint is made to the firm which it sounds like you havent done, so I dont understand why FOS have said no. Why did they say no?

brown1950

lady_in_need wrote: »

my payment to kensighton mortgages should be £289 but I pay £401 my originally loan was for 30,000 and got into diffuicult I am in arrears of 12 grand that's why I pay this amount to bring it down it doesn't I am only paying about £11 off the arrears as they put interest on my loan and interest on my arrears does any one know if I can claim anything back I have asked the financial ombudsman but they also told me I couldn't claim the ppi on it. yet the ppi company have contacted me and sed I can claim my ppi back on it after being told no off financial ombudsman. hope you understand me I am now owing 42 grand on it including arrears took out in 2005 for 25 years I am 52 in depression and ill health just wondering please

And i bet you have been paying 'arrears fee's ' charges of £50 a pop ?
Despite what some 'Bank' defenders on this site will say you can
reclaim these fee's. Just because these fees are in their T & C's does not
mean they are legal indeed i would like to see Kensignton Mortgages
defend a court action and justify these fees !

magpiecottage

brown1950 wrote: »

And i bet you have been paying 'arrears fee's ' charges of £50 a pop ?

No evidence that such fees existed.

No apostrophe in "fees" either.

Despite what some 'Bank' defenders on this site will say you can reclaim these fee's. Just because these fees are in their T & C's does not mean they are legal

Fees may be charged if they are a genuine reflection of the cost to the lender.

i would like to see Kensignton Mortgages
defend a court action and justify these fees !

Are you offering to bankroll such a case for the OP? Bear in mind that if she loses she could have the other party's costs awarded against her.

lady_in_need

I seem to keep to my £400 a month my orginal payment is £289 but like I said fees slapped on my arrears aren't coming down much £11 off them a month cos Kensington put £89 interest on all interest is on my loan and on my interested my question is are they allowed to put interest on both my arrears and my loan why cant I get this stopped its never coming down and im not missing it either this has made me have ill health I have felt suicidal I am under phycoligist too . thank sfor all replys

killerkev

lady_in_need wrote: »

I seem to keep to my £400 a month my orginal payment is £289 but like I said fees slapped on my arrears aren't coming down much £11 off them a month cos Kensington put £89 interest on all interest is on my loan and on my interested my question is are they allowed to put interest on both my arrears and my loan why cant I get this stopped its never coming down and im not missing it either this has made me have ill health I have felt suicidal I am under phycoligist too . thank sfor all replys

Of course they can charge interest on arrears it will all be in the T&C'S You took out a loan agreed a payment every month and for what ever reason did not make those payments so broke the terms of the loan, the company did not get their money every month so debt did not go down, now you are paying the price, only way out is to increase the amount you pay every mouth to try to bring the debt down faster

brown1950

lady_in_need wrote: »

I seem to keep to my £400 a month my orginal payment is £289 but like I said fees slapped on my arrears aren't coming down much £11 off them a month cos Kensington put £89 interest on all interest is on my loan and on my interested my question is are they allowed to put interest on both my arrears and my loan why cant I get this stopped its never coming down and im not missing it either this has made me have ill health I have felt suicidal I am under phycoligist too . thank sfor all replys

Would be interested to know the amount of arrear fees Kensington have charged you since the commencement of your mortgage. Also have a look at the following :-

http://www.moneysavingexpert.com/news/mortgages/2010/01/reclaim-unfair-mortgage-fees-fsa-says

brown1950

KENSINGTON MORTGAGES FINED BY FSA FOR UNFAIR FEES

Oh Dear
http://news.bbc.co.uk/1/hi/business/8615870.stm