Mortgage Lenders Fined Over 'excessive' Charges

[seduraed]

Re: Mortgage Lenders Fined Over 'excessive' Charges

are you n a position to save up an extra mortgage payment . then you pay twice in one month andthen move the date this means that you are not in arrears for that month as it is always covered by the extra payment .

Hmmm this is very interesting. We have a mortgage with West Bromwich, we borrowed £60000 May 2007 for a shared owernship property and we seem to have barely made a dent in it due to the following. Every month the payment is returned unpaid, this is because for some reason, West brom go to collect it before our salary hits our account. It is supposed to come out on the last day of the month so we enquired if we could move the payment day to the first day of the month, so in other words one day later than when it comes out now and they said that this would then put us into arrears therefore having to pay them another instant mortgage payment which we simply cannot afford. So every month we get a charged a total of £50, £35 charge from west brom for returned DD and then our bank for a returned DD of £15.

Where do we stand legally with this, is it worth proceeding claiming the charges back from the mortgage lender? If so is there somewhere on here which shows you which process you should follow?

Thanks in advance for your help.

NJ x

[Turboman]

Re: Mortgage Lenders Fined Over 'excessive' Charges

Ethan---if its a "link" just copy/paste from the address bar at the top of your linked article

If its a newspaper article-scan it as a .jpg file and post up as an attachment using the "Manage Attachments" box in Miscellaneous Options (below the area where you type the post)

[TUTTSI]

Re: Mortgage Lenders Fined Over 'excessive' Charges

We were told by our Mortgage Company Rooftop Mortgages that if we paid just £50 over when we pay our mortgage each month we will not be in arrears. Will be doing the SAR first to get all the charges listed and then I will write to them if they flately refuse to reduce to £12 which I believe would be considered reasonable and then that is their final answer we will take our complaint direct to the FOS.

Looks like a great letter Redman and I will certainly use something similar to that when I try and get ba refund of our mortgage charges which are probably in excess of £7k, some charges are around £70 a pop. Since our mortgage is ongoing a substantial reduction off our mortgage would look much better and you can go back 12 years.