Reclaiming unjustified fees from Mortgage company

[Gprit]

I had an interest only mortgage with Rooftop Mortgages whose term became overdue for repayment. Always planned to sell to repay...no problem, and Rooftop was fully aware of this.
Never missed or late with payment.

However a few months ago I had a letter from their Solicitors simply asking what my proposals for repayment were, and then stated that if not repaid, repossession proceeding etc would be taken and IF THAT happened there would be legal fees. I obviously responded immediately and told them Rooftop already knew I was selling the property to repay.

Nothing happened, the house has been sold and the mortgage repaid. However, the redemption statement included fees of £926!! I have raised a Formal Complaint with Rooftop about these not being justified but accepted the redemption figure as I did not want to delay completion of the sale/repayment of the mortgage. I await their response.

I told Rooftop that following completion I would issue a SAR and then proceed to the Financial Ombudsman to recover these unjustified fees, if they are not returned.

My question is: Is the Financial Ombudsman the best route to go to do this?

[Amethyst]

redemption statement included fees of £926!!

What were the fees listed as being for?

Have you sent the SAR off ?

[Diana M]

The Redemption Fee should be stated in the mortgage Ts & Cs. They can't charge you more than that amount.

However you say that there had been correspondence from their solicitors after the mortgage term had expired so check to see whether those legal costs were included in that £926 figure. Then check to see if there is anything in the Ts & Cs about them being entitled to claim any legal costs in relation to 'recovering' the loan.

Rooftop is a closed book lender but they are currently authorised and regulated by the FCA so your complaint would go to the FOS assuming this was a regulated (residential) loan not an unregulated (BTL) loan> http://rooftopmortgages.com/

Di

[Gprit]

The redemption certificate just says 'fees'. When I queried on the telephone they said it was for starting repossession proceedings . When I said they hadn't done that they said oh.... and £200 for communication through emails via our solicitor. (Rooftop don't do emails....).
I have requested a full breakdown of hours/tasks.

The Redemption Fee should be stated in the mortgage T & Cs. They can't charge you more than that amount.
>>>> There is nothing in those (originally Platform Holdings) to say that. A previous list of fees from Rooftop only state that IF repossession proceedings went ahead there would be charges. Their solicitor has confirmed in writing they have NOT started such an action.

However you say that there had been correspondence from their solicitors after the mortgage term had expired so check to see whether those legal costs were included in that £926 figure.
>>> that is what they claim...but the solicitors only asked what my repayment proposals were......which Rooftop ALREADY KNEW!!!

Then check to see if there is anything in the T & Cs about them being entitled to claim any legal costs in relation to 'recovering' the loan.
>>>> only if repossession proceedings

Rooftop is a closed book lender but they are currently authorised and regulated by the FCA so your complaint would go to the FOS assuming this was a regulated (residential) loan not an unregulated (BTL) loan> http://rooftopmortgages.com/
>>>> excuse my ignorance...what is FOS??

Not yet sent off the SAR - waiting for their final response and will send after 26 May - free!!

[Amethyst]

FOS -> http://www.financial-ombudsman.org/c...complaints.htm

[Whisky Mac]

Barclays First Reserve never explained to us never given any advice and never told we were entering anything other than a repayment mortgage.
mick thomas.

[atticus]

Thanks, Mac.