Friends SPML mortgage

[ncf355]

A friend had a mortgage with SPML and I'm attempting to help him recoup some of his losses from the duration of the mortgage and when he sold the property

What is the current situation with them? I appreciate Acenden are responsible for them, but can action be taken against them for penalty charges etc, or would this need to go the FSCS route?

Thanks for any help you can give

:beagle:

[Judge mental]

Re: Friends SPML mortgage

Hi.

You can reclaim penalty charges if they have imposed any, but I would suggest you use the courts as opposed to the Ombudsman as I have seen posts recently where the Ombudsman is (wrongly) applying the Supreme Court decision on current account charges to loan/mortgage charges complaints.

Does you friend have a record of all the charges imposed? If not they will need to begin by sending a subject access request and £10 to the lender

Stuart

[ncf355]

Re: Friends SPML mortgage

Hi,

ATM, more concerned with are Ascenden legally liable for SPML?

[Judge mental]

Re: Friends SPML mortgage

Hi.

I would suggest any legal action would be against SPML, they are still an active company submitting accounts to companies house. Ascenden are the administrators on behalf of SPML.

Stuart

[ncf355]

Re: Friends SPML mortgage

Didnt realise that!

Thanks Stuart

[Judge mental]

Re: Friends SPML mortgage

I would also suggest you look very closely at any early termination charge that was imposed when the property was sold, they have a nasty habit of including charges in their calculations, which they should not.

Stuart

[ncf355]

Re: Friends SPML mortgage

Good call!

Is that ERC, or different?

[ncf355]

Re: Friends SPML mortgage

SPML sent through the data, but all reference to the underwriting and commisions etc has been left out and they claim they are entitled to do this

Is the only way of getting hold of this info through court action (and the subsequent disclosure orders)

?

[Judge mental]

Re: Friends SPML mortgage

Hi ncf355

They really dont like parting with the underwriters sheet and will do anything and everything to avoid releasing it.

The underwriting notes contain your name and address making it personal data under the Data Protection Act and therefore you are entitled to see it under a SAR.

I suggest a letter before Action (sent recorded delivery) stating the underwriters sheet contains your name and address, therefore you are personally identifiable and you therefore have a right of access to the data under section 7 of the Data Protection Act 1988, and if it is not received within 14 days you will, without further correspondence either

a) Submit an application to the County Court for a disclosure order, and or

b) Make a complaint to the Information Commissioners Office in respect of their none compliance.

It may well be that you have to carry out your threat of further actions to obtain the data.

Stuart

[ncf355]

Re: Friends SPML mortgage

Thanks Stuart

Also, as the above Q - is the Early Termination Charge different to the ERC?

[Judge mental]

Re: Friends SPML mortgage

Hi

Sorry ncf355 I missed that one, yes Early redemption charge, early termination charge, exit fee, ect . . they all refer to a charge imposed for ending a contract before an agreed date.

Stuart

[ncf355]

Re: Friends SPML mortgage

Hi

Sorry ncf355 I missed that one, yes Early redemption charge, early termination charge, exit fee, ect . . they all refer to a charge imposed for ending a contract before an agreed date.

Stuart

Hi,

thanks for the update - I was under the impression reclaiming ERC's was dead in the water as many had failed in court before now?

Is there new case law or information on this?

When I've searched regarding it, most of the search results are for OTR or MSE around the 2007/2008 time when people got stung in court/dropped before the court doors?

Thanks for your time