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Can anyone recommend a decent company to investigate Interest Only Mortgage overpayments?
suenf
Posts: 1 Newbie
I had a large Interest Only mortgage with Birmingham Midshires which was fully paid off when the house was sold approximately 10 years ago, out of the blue earlier this year I received a cheque for about £800 From BM, stating it was to cover overpayments that they had miscalculated over several years, it was then suggested to me by a friend that I could well be owed a more substantial amount. I really have no clue how to investigate this, I have looked at Trusted Mortgage Claims and they have absolutely shocking reviews, can anyone please point me in a sensible way to look into this? Thank you.
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Comments
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Why does your friend believe you are owed a more substantial amount?
The chances of the redress being wrong is miniscule.
What calculations is he or she working off?
You'll end paying a fee to any company you employ as they know there is virtually no chance of any payout and therefore no commission for them.0 -
it was then suggested to me by a friend that I could well be owed a more substantial amount
So, your friend is suggesting that BM have committed fraud? - that is effectively what they are saying as the error correction should be spot on.
can anyone please point me in a sensible way to look into this?Ask BM how they calculated the redress.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1 -
As above. If they have given you £800.00 they will have completed a thorough investigation and repaid what is owed plus statutory interest. The positive here is that they have identified and accepted their error. There is a reason why the reviews are shocking for TMC. Of course you could always believe what your friend and the CMC tell you, take out a very large loan and then wait.................
I work in Data Protection and spend my days dealing with CMC's. Only here trying to help!!1 -
Simply write a letter to the company concerned asking them to look again at the calculations, to make sure they are correct.What is it you think a claims company would do differently ???They would just write the same letter as you would, and charge you 35% for the pleasure.Claims companies thrive on the myth that they can achive something you cannot, its absolute rubbish, both you and they have the same access to information, and the legal system as anyone else has.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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a whole bunch of posts removed on this thread...I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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Posts relating to a certain company? Probably had Too Many Complaints?dunstonh said:a whole bunch of posts removed on this thread...helpful tips
it's spelt d-e-f-i-n-i-t-e-l-y
there - 'in or at that place'
their - 'owned by them'
they're - 'they are'
it's bought not brought (i just bought my chicken a suit from that new shop for £6.34)0 -
There was no company name mentioned. It was someone claiming they were pressured to be a guarantor. The answers were reasoned and had no abuse and asked more questions. That post and the replies in relation to that removed.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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That post has been split off into its own thread in the loans forum https://forums.moneysavingexpert.com/discussion/6180172/guarantor-loan-trouble#latest
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