Mortgage interest reclaim

Ob1kenroby

I have a company claiming they can claim back over paid interest on my behalf, but for doing this, they are going to charge me 25-35% of the overall claim. Is this something that I can do myself by just filling in a form from the mortgage company?

[Deleted User]

Yes.  Just send them your complaint and evidence.

How much did they overcharge you by?

dunstonh

Is this something that I can do myself by just filling in a form from the mortgage company?

Yes.  You can do exactly what they do for free.

1 - You make up a story about being charged interest incorrectly.

2 - You invent a figure plucked out of thin air to persuade yourself that the bank is wrong.  Don't worry if the figure picked is actually greater than the amount you have paid as its all make-believe anyway.  Remember that figure, you will need it later.

3 - You give it a couple of weeks doing nothing (don't even contact the bank).  Then you write a letter to yourself telling you that you have a case and you tell yourself what the made-up figure is.    You then agree to let yourself do the work.

4 - Again, after a couple of weeks of doing nothing, you write to write to yourself saying that you do have a case but the solicitors will incur costs and that they need to protect themselves from a fee so you need to take out insurance to cover the fees should the case be lost.    And to ensure you can pay it, you need to take out a loan to pay that premium.  But don't worry, it will only be activated if you lose.

5 - After many more weeks you are told you have not succeeded and the loan will be activated to pay the insurance premium for the solicitors (there were no solicitors and there was no insurance but the loan money is the profit in this enterprise).

There are variations of the above but that is what you can do to match what they will do.

The_squirrell

Dunstonh. I love the above and would endorse everything! I would just clarify point 5 though,after recently having received all the nonsense mentioned in point 1-4 from one company, twelve months after initial submission, so "many weeks" may be being a bit optimistic! Of course, the poor mis-informed person employing the CMC will have been paying interest on the loan for all of this time.

societys_child

Ob1kenroby : Is this something that I can do myself by just filling in a form from the mortgage company?

Yes of course, it's what the forms are for.

Don't forget to add a few £'s for inconvenience and stress. Everybody does that.

Vikkivik77

I have just tonight contacted my ex mortgage provider regarding this very thing. I always thought it was my maths that was wrong, not the fact that the mortgage compony were substantially over charging me. Only time will tell if I get anywhere x 

John_

Vikkivik77 said:

I have just tonight contacted my ex mortgage provider regarding this very thing. I always thought it was my maths that was wrong, not the fact that the mortgage compony were substantially over charging me. Only time will tell if I get anywhere x 

What was the interest rate, amount, loan term and monthly payment.