Reclaim Mortgage Arrears Charges. NEW CAMPAIGN.

Johny_T

toonfish wrote: »

You missed out IRRESPONSIBLE BORROWING

This is just now the next sector of society where people who struggle by and meet their commitments somehow are going to be forced to pay more as a result of the actions of a reckless minority.

It's the "World owes me a living" mindset, and it's only getting worse

I don't wish to cause anyone offence but there is often a similar theme from those directly connected with the mortgage industry (see panorama thread)

"IT IS ALL THE FREELOADING, JEREMY KYLE WATCHING LOWER ETCHELONS OF SOCIETIES FAULT"

There is never a black and white line between 'this is deserved' (the customer has been ripped off) and this is not deserved 'the customer is a free loading .....' where the line ends up (in this case valid claim / not valid claim) has to include as many of the deserving as possible. By it's very nature this means that some who are less deserving may slip in as well.

The main point of principle is:-

If a claim can be made, under the laws of our land, either the contract signed into (be it bank charges or mortgage) or the implimentation of the contract is, by it's own definition, unlwaful.

It was not the customer who created this contract!

Johny_T

HEADACHE wrote: »

Hi Martin

Ive got a substantial claim in for mortgage arrears fees to my old lender.Theyve defended it with a rod of Iron,have employed a big law firm and a hearing date has been finally set for next year.I filed the claim in late summer!
im a bit worried about it as im going to defend myself,any help or words of wisdom would be appreciated.

Why do they want to pay for a big law firm?
If you are defending yourself surely no judge in the country would make you pay the legal costs of a large lawfirm (it's referred to as 'reasonable')

What are the chances of the big law firm costing more than the claim itself?
I would suggest rather high!
Why therefore employ a large law firm? Surely this is not economical? The reason....

To scare of others from making claims. They are worried as they have someting to be worried about!

Appreciate that this doesn't answer your question but I seem to be on a bit of a rant:mad:

Tripledrop

They probably have a large law firm on staff all the time, so may as well make use of them.

Also, back to the how much it costs... When a company sets up, it always factors into it's costs the extra costs associated with bad debts. So that means that they are ALREADY charging EVRYONE for this, and the extra fees are just extra income for them!

Mr_helpful

traceye wrote: »

Hi

Can you explain please if the following scenario fits into this, and if I should write and try and claim this back.


On the 1st of the month the mortgage tries to come out of the bank.
There is not enough money in the bank to pay for it, so they send a letter saying that they will retry and take the money on the 12th. They charge £25 for this (and add it on to the mortgage amount). If the money is still not there on the 12th, they charge a further £50 for this, and another £10 for writing me a letter telling me so. All of which, the money is added back onto the loan.

Is this covered in this claiming back ? Shall I write to them and give it a go? Whats the worst that could happen ???

Hope someone can help! Thanks:money:

I am wondering if this is a wind up as I am thinking how can any one be so stupid. If you know the mortgage is coming out on the 1st why not put the money in the account before that? If that is too difficult why not change the payment date with your lender.

homer_j_3

some lenders wont let you change dates and as often as I ever got paid on time, not all employers were as good as that and if their BACS run messed up and they got paid on the 28th for example, it does happen.

With regards to different costs on court appearances, I understand that there are legal documents to complete and it could be a difference there. Did you ask for a copy of the solicitors invoice and breakdown? Would they provide it? That should explain why.

I am not against people making these claims nor am I for them either as I can see both sides of the arguments. I pay my mortgage on time and am lucky that I don't have to go through all of this.

The law will decide if these are reclaimable or not and if they are then we all have to accept that the banks have been acting illegally and if they are not the it has to be accepted that the fees are legal and therefore payable.

I think it could be a bit irresponsible by Martin and his partners to start campaigning this way getting expectations up without having some clear win cases which demonstrates that its possible.

I haven't read his links but I do presume that from the responses on here, there has been no successful claim as such for mortgage arrears?

Leon_W

homer_j wrote: »

The law will decide if these are reclaimable or not and if they are then we all have to accept that the banks have been acting illegally and if they are not then it has to be accepted that the fees are legal and therefore payable.

You are quite right there, if it is proved that the charges are illegal then so be it. I don't have a problem with that.

It's an interesting thread this with many good points made on both sides, but at the end of the day, if it is deemed that these charges are illegal, then the banks will simply make up the difference in other areas. It just means that the larger majority of mortgage payers that make their payments on time will pay more, be it through higher interest rates, or fees elsewhere.

If I were a bank I could probably just build in an extra £25 a month into the mortgage and turn round and say, if you pay on time we will give you £25 "discount" a month. It's exactly the same but would circumnavigate a lot of legal trouble.

homer_j_3

Some lenders do have a dd discount which is applied and removed the minute a payment is not made by dd (and charge fees too though).

If it is illegal then it can't be looked upon that the good payers have been subsidising (sp?) the bad but surely the bad have been subsidising the good?

Tripledrop

That sounds about right!

I have never missed a mortgage payment either, but I don't think the charges are fair. And this comes from working for a company that charges them a lot!

danm

Im not sure where this ends.

can we start to reclaim parking tickets? Thats a penalty. And im sure it doesn't cost £60 to process
Speeding fines? - that picture of my car was expensive at £120

or how about that packet of ham i brought in Tesco's. It only cost them 30p to supply it to me but they charged me a quid.

......OK, i know the above examples are probably not directly comparable but its close.

These firms want/need to make money. They give un-credit worthy people the chance to own their own homes.

If we take away their income stream, no matter how right or wrong it is they just hike rates or stop lending. .

What happens to the sub-prime borrowers then? Do we go back to the council slums of the 80's?

Are the charges fair? .....Well define fair. They were certainly in the Terms and Conditions you agreed to at the start

lynzpower

Just a quickie.

I got charged 140 for being 2 weeks late with my mortgage with the Abbey on a payment of 350.00

Ive got a case in court at the moment for these- its currently stayed.

Abbey have offered me half the money, but as it wont cover the court costs, im hanging on.

I just did it for an experiment TBH if it comes back to me then nice one.