Excessive Mortgage Admin Fees - Reclaiming

kay159

My mortgage was moved from GE to Kensigton recently and I have received a statement showing £1680.60 in fees charges and interest transferred over
Kensington told me they cannot get involved with the fees and that I needed to complaint to GE. GE have closed the complaint and not upheld it stating the fees belong to Kensington
My complaint related to the fact that the charges did not reflect the actual costs incurred. Late payment fees were £40 and default fees £30. Kensington state that as I was aware of the charges they will not uphold the complaint either
I was only recently made aware of the fact that I could reclaim any fees which were excessive and did not meet a fair and actual cost
My problem is do I now send the complaint to Kensignton have had a verbal notification that they will not uphold or should I go directly to the FSO
In addition how likely is it that I would win and how would any refund be made - direct to me or offset against the balance
Many thanks
Andrea

Thrugelmir

kay159 wrote: »

My complaint related to the fact that the charges did not reflect the actual costs incurred.

On what basis have you computed the actual costs?

kay159

I am not sure what you mean. I had been advised that the FSA made a ruling stating that £40 was excessive to monitor a late payment. I am asking as I do not know how to go about this I am just aware that it is possible to recoup anything over the actual costs

Goldiegirl

kay159 wrote: »

I am not sure what you mean. I had been advised that the FSA made a ruling stating that £40 was excessive to monitor a late payment. I am asking as I do not know how to go about this I am just aware that it is possible to recoup anything over the actual costs

Who told you that? I googled late payment fees, and the things that came up seemed to be from 2010 - there doesn't seem to be any ruling about this, though

xHannahx

The FCA currently deem £50 to be an acceptable monthly charge at the current time. £40 is below that rate so in theory should be reasonable. £50 a month is the amount many lenders charge now.