kensington mortgages

connor08

need advice (my interest only mortgage is ever increasing and we dont know why )
a performing  interest only mortge should stay static through out the term and mine is not  there seems to be 8,000 added to my mortgage but we dont know whare from  )my mortgage balance exceeds what we originally borrowed in 2006  however we dont know whare this 8000.00 has come from to push our capital payment up to 99,800 if somebody has experienced this my mortgage was with kensington mortgages (now with engage ) who do i see about it .

RelievedSheff

Have you got any arrears, late payments, charges to the account?

housebuyer143

connor08 said:

need advice (my interest only mortgage is ever increasing and we dont know why )
a performing  interest only mortge should stay static through out the term and mine is not  there seems to be 8,000 added to my mortgage but we dont know whare from  )my mortgage balance exceeds what we originally borrowed in 2006  however we dont know whare this 8000.00 has come from to push our capital payment up to 99,800 if somebody has experienced this my mortgage was with kensington mortgages (now with engage ) who do i see about it .

Have you remortgaged a few times and added the fee onto the loan?

connor08

RelievedSheff said:

Have you got any arrears, late payments, charges to the account?

no i havent 

connor08

housebuyer143 said:

connor08 said:

need advice (my interest only mortgage is ever increasing and we dont know why )
a performing  interest only mortge should stay static through out the term and mine is not  there seems to be 8,000 added to my mortgage but we dont know whare from  )my mortgage balance exceeds what we originally borrowed in 2006  however we dont know whare this 8000.00 has come from to push our capital payment up to 99,800 if somebody has experienced this my mortgage was with kensington mortgages (now with engage ) who do i see about it .

Have you remortgaged a few times and added the fee onto the loan?

housebuyer143 said:

connor08 said:

need advice (my interest only mortgage is ever increasing and we dont know why )
a performing  interest only mortge should stay static through out the term and mine is not  there seems to be 8,000 added to my mortgage but we dont know whare from  )my mortgage balance exceeds what we originally borrowed in 2006  however we dont know whare this 8000.00 has come from to push our capital payment up to 99,800 if somebody has experienced this my mortgage was with kensington mortgages (now with engage ) who do i see about it .

Have you remortgaged a few times and added the fee onto the loan?

housebuyer143 said:

connor08 said:

need advice (my interest only mortgage is ever increasing and we dont know why )
a performing  interest only mortge should stay static through out the term and mine is not  there seems to be 8,000 added to my mortgage but we dont know whare from  )my mortgage balance exceeds what we originally borrowed in 2006  however we dont know whare this 8000.00 has come from to push our capital payment up to 99,800 if somebody has experienced this my mortgage was with kensington mortgages (now with engage ) who do i see about it .

Have you remortgaged a few times and added the fee onto the loan?

no i havent 

connor08

no i  havent added anything i havent borrowed any extra i dont have arreas on my account and according to them my mortgage was performing 

connor08

i have demanded under the data protection act tat they provide the information now that i need and a clear explination they declined at first as we had moved to pepper engage but i put the pressure on wenty to the dpo and told them that failing to provide this information to me i will then go to the information commissioner  - and report them to the fca so lets see what they come back with they are already are on a warning and have disciplinary action from 2010 when they were fined for ading fees and charges to peoples accounts and not treating people fairly . 

ACG

Best people to call are Kensington. 
The balance can sometimes fluctuate, but not my more than maybe a couple of hundred pounds. 

Certainly not by £8k. 

But nobody outside of Kensington can answer your question. 

If you are paying by standing order (rather than DD), you might be paying the old balance before interest rates started to go up. But you would expect Kensington to have been in touch about that. 

connor08

exactly only kensington can be accountable what i thought no i paid by card each month but well i have got them to finally look at it as a complaint but lets see what they say . 

ACG

£8k still sounds like a lot, but if you have been paying on the 30th each month rather than the 1st, that could be a reason as to how the balance has increased. 

I am going to take a stab in the dark and they told you your repayments, you thought the money is better in your bank until the end of the month, they have charged interest during the extra 20+ days and thats how it has built up. They should have told you before the £8k built up in my opinion but you would have received a mortgage statement each year... I cant imagine £8k has built up in a year. 

connor08

i took it to the financial ombudsman i had a final response today 
its seems that we have overpaid on our mortgage / kensington mortgages 
kensington did not treat us fairly under principle 6 we were offered less favourable rate than what would have been available to other  customers with simular characteristics at the time at the time we were eligable for a switch to capital and repayment the qualification and the we has enough equity income everything to qualify for a better rate . and move from interest only . 

so the ombudsman have requested that my new lender pepper engage put things right given the impace it has caused they now have to provide me with a fixed interest rate out of a list of interest rates to existing customers of kensington in october 2021 given us  and allow us to chose a rate as if the rate we selected 
it should then re- work the mortgage rate that we selected should be implimented fom the 1st december 2021

1. have the resulting overpayments refunded to them adding Simple interest of 8%annualinterest running from the date of each payment to the date of the refund or
2. using the resulting overpayments as capital overpayments each month with the mortgage balance and interest charged being reduced in subsequent months on a compounding basis as a result .
3. pay us 500 compensation 
4. they must put a fixed interest rate in place for a fixed term when that fixed term ends they will need to repalace the fixed term with whatever fixed rates they have available at the time . 
5. kensington relied on the fact that th mortgage was taken out before 2010 as the reason it didnt offer a new fixed rate in 2021 this shows unfairmness under MCOB 11.8.1.E