Reclaiming Mortgage Arrears Charges from GMAC

[johnsosu]

I'm currently being charged £65 a month for being in arrears with my mortgage with GMAC i.e. £15 payment by non-DD and £50 for arrears. I have written to them twice requesting a refund which has met with a refusal.

What's the current situation for claiming back these charges?

Kiki

[Amy]

Re: Reclaiming Mortgage Arrears Charges from GMAC

Is your mortgage still with GMAC and is there already a possession order in place?

[johnsosu]

Re: Reclaiming Mortgage Arrears Charges from GMAC

Yes, my mortgage is still with GMAC. There is no possession order in place.

[scoobydoo]

Re: Reclaiming Mortgage Arrears Charges from GMAC

I think you now have to make sure you have written a letter headed "official complaint"

Stating that the charges are unfair.

Then they should reply saying they will look into your complaint and again they will try and give you the brush off.

Then its off to the FOS

a longwinded proceedure but have seen successes recently so please give it a try

[TUTTSI]

Re: Reclaiming Mortgage Arrears Charges from GMAC

I'm currently being charged £65 a month for being in arrears with my mortgage with GMAC i.e. £15 payment by non-DD and £50 for arrears. I have written to them twice requesting a refund which has met with a refusal.

What's the current situation for claiming back these charges?

Kiki

I have been advised that the best way is through the FOS for Mortgage charges. One of our members did it this way and she got the full refund.

From one of my letters written to various Mortgage Companies where charges have arisen- as you have 12 years on Mortgages to make a reclaim, I have had the charges substantially reduced. I would write back to GMAC and advise them that you will report the matter to the FOS if you do not receive a positive response to your request for a refund.

Tuttsi xx

[Xena]

Re: Reclaiming Mortgage Arrears Charges from GMAC

Yes, my mortgage is still with GMAC. There is no possession order in place.

I wouldn't advise claiming charges while your mortgage is still with them.

[scoobydoo]

Re: Reclaiming Mortgage Arrears Charges from GMAC

I wouldn't advise claiming charges while your mortgage is still with them.

Why is that Xena - Do you mean this company in particular or reclaiming these fees in general?

If the FOS are ruling they can be reclaimed as they have been in some cases OTR why should it make a difference if the mortgage is current ?

[Xena]

Re: Reclaiming Mortgage Arrears Charges from GMAC

Why is that Xena - Do you mean this company in particular or reclaiming these fees in general?

If the FOS are ruling they can be reclaimed as they have been in some cases OTR why should it make a difference if the mortgage is current ?

For one, I wouldn't want to lose my home by reclaiming charges under my current mortgage lender. All well and good claiming charges from your previous lenders.
And secondly it is GMAC.

[johnsosu]

Re: Reclaiming Mortgage Arrears Charges from GMAC

For one, I wouldn't want to lose my home by reclaiming charges under my current mortgage lender. All well and good claiming charges from your previous lenders.
And secondly it is GMAC.

If I made a claim why would I be at risk of losing my home besides the fact that my mortgage is with GMAC?

K

[scoobydoo]

Re: Reclaiming Mortgage Arrears Charges from GMAC

Hi again

I think the answer is that if you were successful through the FOS route , which some have been, Then the mortgage company may write to you and say that if you are not happy with the T&C of the mortgage then you should take your business elsewhere and they could recall the loan.

In the present circumstances
1) with no mortgages available and
2) you have had a history of arrears

Then you may be in a very difficult situation.

Now personally I would have thought this would be also frowned upon by the FOS - but I am not sure quite what they could do about it.


i think this an area where we do need to do a bit of research and see if this has happened to any other person that has successfully reclaimed mortgage arrears charges.

[Emerald]

Re: Reclaiming Mortgage Arrears Charges from GMAC

Then the mortgage company may write to you and say that if you are not happy with the T&C of the mortgage then you should take your business elsewhere and they could recall the loan.

Not unles it is in your T&C that the mortgage could be recalled at any time.

If you are in arrears then you need to think carefully about taking on your mortgage co.

[johnsosu]

Re: Reclaiming Mortgage Arrears Charges from GMAC

I've finally got a copy of my 2005 Terms and Conditions from GMAC and I cannot see a clause allowing demand of full repayment at any time. It does say that they can demand payment on the amount owed though after one months arrears.

I think the irony is that if GMAC repaid all the charges I wouldn't have any arrears and wouldn't be getting charged.

Kiki

[TUTTSI]

Re: Reclaiming Mortgage Arrears Charges from GMAC

As they have refused to refund your charges, you could write once more asking them to further consider a refund of charges advising them that you will make a complaint to the FOS and ask them to intervene, which is your right.

You could also post the T & C's up on this thread to get everyone's views first, before you write the letter.

Tuttsi xx

[johnsosu]

Re: Reclaiming Mortgage Arrears Charges from GMAC

I'm glad you suggested posting GMAC's T&Cs as I wonder if I missed something when looking at them. I've scanned the document and tried to upload, but the .pdf file is too big. I'm thinking I could break it down into two seperate files?

K

[TUTTSI]

Re: Reclaiming Mortgage Arrears Charges from GMAC

I'm glad you suggested posting GMAC's T&Cs as I wonder if I missed something when looking at them. I've scanned the document and tried to upload, but the .pdf file is too big. I'm thinking I could break it down into two seperate files?

K

Good idea - break it down into 2 attachments