Help badly needed Mortgage Express ripping me off!!

creamtee

Hi,
I am at my wits end at the moment.

I had a mortgage with capital home loans and when I moved in with my boyfriend I told them my new address.

I had been paying interest only for 10 years and now I have come to transfer the mortgage to my brother, I found out that Mortgage Express now hold the mortgage and I was in arrears for 1 payment for over a year. So I owe them an additional £2500!!! I had no idea that Mortgage express did not have my correct address details and once I found out the money was outstanding I paid within 7 days.

Mortgage express are refusing to remove the £2500 charge because they said I should take it up with Capital Home Loans as to why they did not update my details.

I feel very upset and angry about this, is it worth me fighting this case??

Any advice would be really gratefully received

DpchMd

My guess is that they would assume that you would have noticed that you didn't pay, so I'm not sure what you can do.

Good luck.

creamtee

Thanks, it was one month that they told me I missed, I didn't even notice I had missed it and if they had my correct address they could have easily written to me. I only found out that Capital home loans had moved the mortgage when I called to get the redemption figure.

Is it worth contacting the ombudsman? Or would I be wasting their time?

creamtee

Does anyone have any advice???

tomcc1

Without wanting to be too blunt, what is your complaint? You missed a payment, that's not the lender's fault, and you didn't correct it for a year. You could try the ombudsman but I fail to see why they would uphold it. Better to try and negotiate with the lender but for gods sake don't enter into any 'arrangement to pay' this will wreck your credit rating.

creamtee

Hi thanks for your input, my complaint is that because the original lender did not pass on details to mortgage express I had no idea the money was out standing. It was for 1 month mortgage payment, I only found out about it when I contacted my original lender who told me that mortgage express held the mortgage.

As soon as I found out about the debt, I paid it within 7 days, has this now affected my rating badly?

creamtee

I am also thinking about taking them to small claims court because I will be clearing the mortgage when my brother takes over.

The 1 month payment was outstanding for years and I had no idea.

DpchMd

I'm sure if you pull up your original paperwork it will state the consequences of missing a payment and any ongoing charges.

Not noticing that you missed the payment is unlikely to be an acceptable excuse. I'm not convinced the change of address issue will make a difference either.

Clearly I'm no expert and I hope you find a way to recover your costs, but I think you will struggle.

addedvaluebob

If you have notified them of your change of address then they should have issued annual statements showing the missing payment outstanding, did you receive any of these?

How much is the actual interest payment within the £2,500 figure.

Contact mortgage express and ask for a subject access request to find out your full records and try and find out how this has arisen.

Definitely challenge the figure as your first option, as for making a formal complaint you really need the information to find out how and why before doing anything more

creamtee

Thanks so much addedvaluebob and DpchMd!

Out of the £2500, that is all the arrears fee so is being added to the mortgage - the money was outstanding for many years (£40 per month) and I had no idea about the missed payment.

I have contacted The Ombudsman and they are looking into it.

Mortgage express claim they had sent me letters about it, but when I called them about it, they still had my old address!!! They had never sent me annual mortgage forms.

I am guilty for sure of not being on top of everything, however Mortgage Express are also at fault for not sending me the information, Capital Home Loans have said they would never give my address details out and Mortgage Express should have sent me details by looking at the land registry.

The way I explained it to the Ombudsman was "why would I contact Capital if I knew my mortgage was with Mortgage Express!?" They agreed and are looking into everything.

Even when I contacted Mortgage Express this morning, they still had my old address listed!! Oh boy. Have a good weekend anyone that reads this essay and thanks.

Thanks for your input and I am prepared for the very long haul on this one.

martinsurrey

CHL mainly do BTL loans, is this a residential product or a buy to let product?

its makes a LOT of difference on the advice you will get.