How do I reclaim overcharges on Mortgage?

Ianhodge

I recently filled in a form on Facebook with a company that was adverting “Have you been overcharged for your mortgage”. They came back to me and said I have been overcharged by thousands and they were happy to deal with my mortgage provider and deal with getting the money back for me. Obviously this was not a cheap service and I was hoping it might be something I can do myself. Has anybody reclaimed over charges before? The reclaim is for paying a higher rate than I needed to

The_squirrell

Ignore what that company has told you! They have no way of knowing that you have been overcharged and they are just using scare tactics to draw you in. All they will do is submit a Subject Access request to your mortgage provider, meaning that they will then have access to just about every piece of personal information imaginable. They will then look through your mortgage file in the very slim hope they find some sort of issue. This is extremely unlikely as its is only a tiny fraction of these cases where any problems are identified. They may pass your details on to an "expert solicitor" and will promise all sorts of benefits which will never come to fruition.


Why anyone will ever respond to Facebook adverts is beyond me. They are only there to try and bypass the rules that they should be adhering to.


Unless you genuinely feel you have a reason to complain, then just forget about Facebook claims. If you feel you have a genuine reason, then speak to your bank directly

Rainbowgirl84

It's a scam...ignore and forget it.

Davy_Jones_II

Why not tell us the mortgage term, type, amount and rate, and people here will be able to tell you what the payment should be.

BoGoF

You have fallen for a facebook scam. When are people going to learn.

Ianhodge

Thanks for the reply. They said that they calculated that I’d overpaid by £30k! You are right they were passing my details on to a “specialist solicitor” and that this company would not look at it unless there was at least £15k due. It was the 25% fee and £2600 insurance charge that put me off! It was a no win no fee.
Thought it might be to good to be true

Ianhodge

Thanks, I’ll get the details out

SonOf

Thanks for the reply. They said that they calculated that I’d overpaid by £30k!

Perhaps that is the figure that they felt your greed would overrule your common sense. That is usually what advance fee frauds look to do.

You are right they were passing my details on to a “specialist solicitor” and that this company would not look at it unless there was at least £15k due. It was the 25% fee and £2600 insurance charge that put me off! It was a no win no fee.

And there you have it. The advance fee in advanced fee fraud.

If you ever watched an episode of Hustle, you would know how it worked. Target the mark's greed by letting them know there is something they want. In your case £30k. Then hit them with an advance cost to get that £30k. In this case, £2600. The mark thinks they are getting £30k for just £2.6k.

Advance fee fraud is one of the most common scam methods going. Scam book is a good place to see them.

ACG

No win no fee...except for the £2k insurance bill.

There is absolutely no way any lender would miscalculate by £30,000 - the lender HAS to notify you about any miscalculation once they have been made aware of it. So if one person has been overcharged, chances are there would be hundreds if not thousands and they would all be investigated and notified.

When I worked for a bank, they miscalculated some mortgages, it was because their computer system had not accounted for payments due on a Sunday or a bank holiday or something like that. People were getting compensation of around £50-100 because their balances were a few quid out, not thousands or tens of thousands.