• Welcome to the LegalBeagles Consumer and Legal Forum.
    Please Register to get the most out of the forum. Registration is free and only needs a username and email address.
    REGISTER
    Please do not post your full name, reference numbers or any identifiable details on the forum.

Kensington Finance Mortgage

Collapse
Loading...
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Kensington Finance Mortgage

    Hi everyone, I am new to this site so I hope that this is the correct place to post this.

    This has been a very stressful year to say the least.

    To cut a long story short, my mum was in severe debt which she had decided to bury her head in the sand over and deny all knowledge about it, I only discovered the extent f their difficulties when I made my dad show me the bank account details and I ran a credit report on them.

    Around 6 months ago I discovered a bailiff letter from Kensington finance stating an eviction date of a month for my parents from their house. On finding this letter I managed to get a DMP set up for their unsecured debts and the other mortgage account on the house however Kensington were refusing to accept the payment plan and we went to court. I managed to fight their case in court with the help of the local housing authority and prevent the eviction.

    I would like to take Kensington to court for irresponsible lending as I believe that they never should have re-mortgaged part of the house. The house was valued at around £167,000 and there was a re-mortgage of around £115,000 with Santander already on the property. The total unsecured debt was around £80,000 on top of this. Both of my parents are over 60 and the mortgage term is over 15 years, and neither earn more than £20,000 per year.

    Kensintons fee's are also astronomical.

    My question is If I complain to Kensington while they are still under contract would they be in a position to cancel the mortgage? I do not wish to make the position worse at this time as I already have a complaint in with Lloyds for giving them a £20,000 over draft.
    Tags: None

  • #2
    Re: Kensington Finance Mortgage

    Just to add these figures are approximate as I do not have all of the details with me at present.

    Comment


    • #3
      Re: Kensington Finance Mortgage

      Hi,

      It does sound like your parents have had a tough time, and it's good to hear you are trying your best to help them get straight.

      How much was the secured loan with Kensignton for ? and when was that loan taken out ?

      You mention the court hearing and preventing eviction - was this on the basis of a payment arrangement ?

      Do you have all the paperwork from Kensington ? (original agreement etc)
      #staysafestayhome

      Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

      Received a Court Claim? Read >>>>> First Steps

      Comment


      • #4
        Re: Kensington Finance Mortgage

        Thank you for your help

        I will check the original figures however they defaulted at around £70,000 on the kensington section on the mortgage.

        Yes the prevention of eviction was based on a combination of a payment arrangement and a lump sum payment of around £20,000 which was a lump sum payment taken from my Mum's pension which she was able to access on her 60th birthday. The situation had escalated to the point where they were using several pay day loan companies in order to pay charges.

        Yes my parents have copies of the agreements with Kensington.

        Comment


        • #5
          Re: Kensington Finance Mortgage

          Gosh, that is crazy, but sadly not that unusual with these sub prime companies.

          It wouldnt surprise me if they only borrowed £40k to be honest. When was the loan taken out?

          Will come back tmw, but first thought is, if you haven't already, is to send a subject access request from each of your parents to Kensington, and, if they used a broker, to the broker too.

          Do you know much about why they took out the loan? What their intentions were with it? Also if you can scan and upload (remove personal info) the agreements and anything relevant - key facts document if there is one

          That sounds nosey but to claim misselling it needs to be looked at.
          #staysafestayhome

          Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

          Received a Court Claim? Read >>>>> First Steps

          Comment

          View our Terms and Conditions

          LegalBeagles Group uses cookies to enhance your browsing experience and to create a secure and effective website. By using this website, you are consenting to such use.To find out more and learn how to manage cookies please read our Cookie and Privacy Policy.

          If you would like to opt in, or out, of receiving news and marketing from LegalBeagles Group Ltd you can amend your settings at any time here.


          If you would like to cancel your registration please Contact Us. We will delete your user details on request, however, any previously posted user content will remain on the site with your username removed and 'Guest' inserted.
          Working...
          X