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  • FIRST POST
    • MSE Guy
    • By MSE Guy 12th Apr 10, 1:46 PM
    • 1,628Posts
    • 1,255Thanks
    MSE Guy
    MSE News: Kensington Mortgages to refund over 1m in unfair arrears fees
    • #1
    • 12th Apr 10, 1:46 PM
    MSE News: Kensington Mortgages to refund over 1m in unfair arrears fees 12th Apr 10 at 1:46 PM
    This is the discussion thread for the following MSE News Story:

    "The lender has been fined a whopping 1.2m by the FSA for hammering those behind on payments with huge charges ..."


Page 1
  • bunglejemson
    • #2
    • 13th Apr 10, 10:41 AM
    • #2
    • 13th Apr 10, 10:41 AM
    This is clearly good news, but I hope I'm not alone in saying I don't understand why this decision hasn't set a precedent for other bank charge claimants?

    The FSA has imposed a fine in this case on 'excessive' charges that it deemed punitive. But isn't that exactly the same argument that the FSA failed to uphold in support of those claiming bank excessive bank charges from their banks?

    I don't understand the difference here, or am I being stupid? Why can they enforce 'unfairness' in this case but not in others?
  • ellielou
    • #3
    • 13th Apr 10, 11:32 AM
    ERC's
    • #3
    • 13th Apr 10, 11:32 AM
    Does anyone know if this includes early repayment charges?

    I repayed a mortgage I had with Kensington after only having it for a year & they stung me for almost 8k in early repayment charges.

    It was still the better option to move lender though, as I was interest only with them I ended up owing them more at the end of my mortgage due to the way they applied the interest!!!

    Still gets me I had to pay them all that money, if I could get the money or some of the money back would be wonderful.
  • bekki0405
    • #4
    • 13th Apr 10, 1:47 PM
    How far back??
    • #4
    • 13th Apr 10, 1:47 PM
    Does anyone know how far back I can claim? I was in serious arrears in 2003/4, and was stung with lots of charges. I ended up on a suspended repossession order, and had to sell my house to pay back the charges.
    The news story says that the FSA found Kensington had overcharged between Jan 2007 and Oct 2008, so is this the only time you can claim in. If so, I would not be able to claim.
    Trying to get out of debt......it's a slow but satisfying road!
    Hubby now converted to MSE
    MEAF charge reclaimed = 50
    Energy switch to capped rate + free case of vino
  • VIGILANT22
    • #5
    • 13th Apr 10, 2:02 PM
    • #5
    • 13th Apr 10, 2:02 PM
    [QUOTE=ellielou;31813753]Does anyone know if this includes early repayment charges? QUOTE]

    No, erc's are part of the mortgage contract which you initially agreed to.
  • new_home_owner
    • #6
    • 13th Apr 10, 2:21 PM
    • #6
    • 13th Apr 10, 2:21 PM
    [QUOTE=VIGILANT22;31818977]
    Does anyone know if this includes early repayment charges? QUOTE]

    No, erc's are part of the mortgage contract which you initially agreed to.
    Originally posted by ellielou
    I thought your missus had banned you from using the pc??
    • smnb08
    • By smnb08 13th Apr 10, 2:40 PM
    • 438 Posts
    • 148 Thanks
    smnb08
    • #7
    • 13th Apr 10, 2:40 PM
    • #7
    • 13th Apr 10, 2:40 PM
    is it ok to claim if you are no longer a customer of kensington?
    was with them from 2005-2008.
    sealed pot challenge member #920
  • VIGILANT22
    • #8
    • 13th Apr 10, 2:43 PM
    • #8
    • 13th Apr 10, 2:43 PM
    What fees do you want to claim for?

    http://www.kmc.co.uk/spool._2f_kensington_2f_pdf_2f_customers_23_29053_ 23_File-MediaFile.pdf
    Last edited by VIGILANT22; 13-04-2010 at 2:59 PM.
    • magpiecottage
    • By magpiecottage 13th Apr 10, 2:55 PM
    • 9,114 Posts
    • 5,584 Thanks
    magpiecottage
    • #9
    • 13th Apr 10, 2:55 PM
    • #9
    • 13th Apr 10, 2:55 PM
    Mortgages became regulated by the FSA on 31 October 2004 and from that point on, subject to the jurisdiction of the Financial Ombudsman Service.

    Prior to that, a complaint can only be considered by the Financial Ombudsman Service if the firm you make the complaint against subscribed to the Mortgage Code at the time of the events complained about and would normally only be considered against the standards of that Code.
    • smnb08
    • By smnb08 13th Apr 10, 3:20 PM
    • 438 Posts
    • 148 Thanks
    smnb08
    got really excited then as i thought it meant it was for the arrears fees!!
    looks like i will only get maybe a returned direct debit fee.
    i dont understand why they can say the returned direct debit is unfair but not the monthly arrears fee.
    sealed pot challenge member #920
  • orc
    is it ok to claim if you are no longer a customer of kensington?
    was with them from 2005-2008.
    Originally posted by smnb08
    Yes. Proceed to make a complaint, (assuming it is for the right type of fees). Don't depend on them getting in touch with you.

    Remember that 8% interest should be added by Kensington added the date of any fee charged to the date of refund.
    Please ignore those people who post on this forum who deliberately try to misinform you. Don't be bullied by them, don't be blamed by them. You know who I mean.
    You come here for advice, help and support- thats what I and like minded others will try to do.
  • orc
    Does anyone know how far back I can claim? I was in serious arrears in 2003/4, and was stung with lots of charges. I ended up on a suspended repossession order, and had to sell my house to pay back the charges.
    The news story says that the FSA found Kensington had overcharged between Jan 2007 and Oct 2008, so is this the only time you can claim in. If so, I would not be able to claim.
    Originally posted by bekki0405
    I would proceed to make a claim, direct to Kensington. It may be handled by them in 2 parts.

    From the time the FSA regulated mortgages- as mentioned above and prior to that by the Financial Ombudsman.

    You want 8% interest added.
    Please ignore those people who post on this forum who deliberately try to misinform you. Don't be bullied by them, don't be blamed by them. You know who I mean.
    You come here for advice, help and support- thats what I and like minded others will try to do.
    • sourcrates
    • By sourcrates 20th Apr 10, 6:13 PM
    • 17,229 Posts
    • 16,240 Thanks
    sourcrates
    Just rung there "dedicated customer helpline" to ask when i would get the money back they stole from me, suprise suprise it just rings off, even though on there website it states they are open till 8.30pm . . . . . . . is this a look of suprise on my face Mmmmmm.............got stung for ten grand when we were repossessed in 2008, five of that was an ERC the rest were default charges added to the account, i intend to get ALL of it back though in due course.
    Last edited by sourcrates; 20-04-2010 at 6:18 PM.
    • smnb08
    • By smnb08 21st May 10, 6:42 PM
    • 438 Posts
    • 148 Thanks
    smnb08
    just wondered if anyone has recieved a letter from kensington about the above yet.
    sealed pot challenge member #920
    • scrounger
    • By scrounger 21st May 10, 8:06 PM
    • 200 Posts
    • 95 Thanks
    scrounger
    just wondered if anyone has recieved a letter from kensington about the above yet.
    Originally posted by smnb08
    You gotta be joking even when you ring them they are unobtainable. Now they owe money even more so.
    • mrsjsh
    • By mrsjsh 11th Aug 11, 2:23 PM
    • 1 Posts
    • 0 Thanks
    mrsjsh
    how can i claim against kensington mortages
    kensington mortages took our home off us 3 years ago , whlist my husband was recovering from lymphoma, we had fallen behind with mortgage when the company he worked for sold to someone else his wages reduced and he was pushed out .
    we rang wrote begged told them he was ill, each time we wrote back or rang they said they had not had anything from us...
    we were at court three times trying to save our home.even the baliffe said he had never seen anything like the way we were treated, we kept offering different solutions , but they just said pay the whol amount or nothing we cried wailed and some yourn upstart at the end of the line was saying all or nothing.... in the end we were removed from our house my husband ill, we had 70.000 equity in the house and they let it go so nothing was left
    the way they treated us was horrific, and two months later my son was also diagnosed with cancer, i thnk with the stress fromm them, we slept in my husbands sisiters family house two on the floor and two in a bed , how can this happen my husband had never had a day off in his life until he was ill, and they did not care we tried everything to get them to help but they just lied and charged us more money.
    now we have nothing we have lost half our furniture as we could not afford rent on lock up, and have no hope of ever having enough deposit to buy a new home thats all we want,
    Please how can i get back something from them , they are the lowest of the low...
    janet
    Please can someone help me i am week and weiry with it all, my husband has been ill since then im sure with the stress, please can some one help please
  • kaya64
    Mrsjsh, So sorry to hear what happened to you , that very low , I hope things are better for you now .

    The opposite has happened with us , our business was very slow at the beginning of this year and Kensington mortgages have been really understanding , they haven't charged us any late fees at all , infact by accident I overpaid last november by only 2 , but because of this overpayment I am always in credit and even when I pay late it stops charges being applied, I hope other people will be able to use this method as it allows customers a week or so to get the money together and still pay their mortgage without charges .
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