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    • MSE Guy
    • By MSE Guy 15th Jul 10, 11:07 AM
    • 1,628Posts
    • 1,255Thanks
    MSE Guy
    MSE News: Mortgage firm to pay 500,000 compensation for unfair fees
    • #1
    • 15th Jul 10, 11:07 AM
    MSE News: Mortgage firm to pay 500,000 compensation for unfair fees 15th Jul 10 at 11:07 AM
    This is the discussion thread for the following MSE News Story:

    "A sub-prime firm must pay over 1.1 million in fines and redress for treating customers in arrears unfairly ..."

    Last edited by MSE Guy; 15-07-2010 at 11:17 AM.
Page 1
    • dunstonh
    • By dunstonh 15th Jul 10, 11:39 AM
    • 98,597 Posts
    • 66,999 Thanks
    • #2
    • 15th Jul 10, 11:39 AM
    • #2
    • 15th Jul 10, 11:39 AM
    That is actually quite a low fine by FSA standards. I know you say whopping in your article but FSA fines for national companies are usually in the millions.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • mackers8923
    • #3
    • 15th Jul 10, 9:38 PM
    • #3
    • 15th Jul 10, 9:38 PM
    One of the next companies they should look at is Capstone Mortgages, they are doing more a less the same as this company that has been fined.

    It has just taken me over 2 years to get back fees from 2007, which were incorrectly charged at the time which I then paid as an arrear, when I asked for it back they gave me !!!!!! all and just took it off the mortgage balance which was fair enough but by god it took a long time.
    • little miss spender
    • By little miss spender 16th Jul 10, 12:26 AM
    • 84 Posts
    • 41 Thanks
    little miss spender
    • #4
    • 16th Jul 10, 12:26 AM
    • #4
    • 16th Jul 10, 12:26 AM
    Yeh I agree with you mackers
    They do need investigating capstone are one of the worst companies I know. Not only do they charge extortionate fees 115 a month litigation management fee, 85 a month arrears management fee, 50 late payment fee, etc etc. But they are also rude and abusive to their customers, and their first route to help people in arrears is to take them to court and repossess their home as fast as possible. They are just vultures. !!!
    • Paulgonnabedebtfree
    • By Paulgonnabedebtfree 16th Jul 10, 2:15 AM
    • 2,703 Posts
    • 28,940 Thanks
    • #5
    • 16th Jul 10, 2:15 AM
    • #5
    • 16th Jul 10, 2:15 AM
    Interesting to see that Redstone is top of the pile on the list. I've got my mortgage with them. I originally had it with Amber but it was sold. I've always had the money to pay the mortgage so no problem (yet). I'm also relieved to be on a lifelong tracker as far as I can tell. Not a good tracker but at least it seems to prevent them hiking the rates due to their own mismanagement.
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