Kensington Mortgages- Can you help on rates for KSVR

[KGF]

For some time I have been trying to get KensingtonMortgages to let me have their 'Kensington Standard variable rate' ie a rate that would apply across the board to all their clients.They have always refused until I went to Court and their Solicitor handed over what he felt was the Kensington Standard variable Rate. I have this now broken down by month and year back to 2004

I am sure that this Standard variable rate varies from client to client depending on what the Kensington Underwriters feel they can get away with which is why they do not normally publish a Standard Variable rate any where.

I need urgently to compare the rates you have with the now published rate I have...if they differ - then Kensington are in trouble since the rates I now have are a legal document.
Please can any of you help by comparing the rates I have to the rate you have been or are being charged. I can PM you the rates if you want them.
We already now have two replies on this but we need as many as we can get so any of you out there with Kensingtonmortgages please come back to me with your rate. My own Court actions may help reduce your own rates
many thanks

[dogtired]

Re: Kensington Mortgages- Can you help on rates for KSVR

I will pm you tomorrow. With this company and at one time the rates were linked to LIBOR.
The "broker" we used was TML who were owned by them as well.

[KGF]

Re: Kensington Mortgages- Can you help on rates for KSVR

Hi thanks Dog tired
The KSVR is still based on LIBOR and that is another area of investigation. I seem to have two sets of LIBOR rates from their solicitors!

[dogtired]

Re: Kensington Mortgages- Can you help on rates for KSVR

sorry, will now do this tomorrow been a bit hectic!

[Ruby]

Re: Kensington Mortgages- Can you help on rates for KSVR

I had two loans with them in the past - both paid off now.

Broker - Debtbuster Loans - at the time loan was taken out in February 2007 variable rate was 5.4% plus margin of 5.8% = 11.2%

Can't remember other broker (possibly can do some more digging) loan taken out January 2006 variable rate was 4.7% plus margin of 8.5% = 13.2%

Hope this helps

[KGF]

Re: Kensington Mortgages- Can you help on rates for KSVR

hi Ruby
Were these mortgages or just short term straight loans?
I am only looking at long term mortgages.
thanks

[Ruby]

Re: Kensington Mortgages- Can you help on rates for KSVR

They were long term mortgages...

The latter one was regulated

[KGF]

Re: Kensington Mortgages- Can you help on rates for KSVR

Hi Ruby
The info is very interesting if these were mortgage loans were based on a Standard Variable rate they were 1% lower than what they are telling me the SVR was!
However the extra margin they put on was extortionate compared to the normal 2.5 - 3.35 that other people have.
if you can dig out any other rates and confirm by looking at your offer from the KMC what the mortgage is based on that would be really great.
many thanks
KGF

[labman]

Re: Kensington Mortgages- Can you help on rates for KSVR

I haven't read your whole thread, but I had a long battle with Kensington 3 years after we'd settled the mortgage to get compensation.

They paid it in chunks, almost conceding point by point and paying a chunk for one point, then for another etc.... It was only when they realised we were going to keep on and on and on that they offered a sensible F&F settlement.

[Ruby]

Re: Kensington Mortgages- Can you help on rates for KSVR

I will do some more digging KGF. I don't have a lot of paperwork left as these loans were paid off in 2007. It looks like they were making these rates up as they went along?! I will put my finger on the pulse on this matter as time is running out if I am to claim any compensation.

I am very interested Labman on what grounds you managed to get compensation. Could you enlighten us?

On another note, I have noticed that on my land registry records they are still listed, cheeky buggers!!! I have now written to them asking for them to remove their details as this loan is long since been paid off and we have our deeds back from their solicitors.

[labman]

Re: Kensington Mortgages- Can you help on rates for KSVR

Ours was a secured loan. I've got all the paperwork, but neither my wife nor I can remember exactly what we pinned them down on. I remember it was a lot of work, and I'm sure unfair charges, interest rates and other things came into it.

I'll dig out the paperwork for you, but it's highly unlikely to be for a couple of weeks due to personal circumstance, unless I can get it done before Wednesday.

I have just remembered that we did a full SAR on them, and it was that which gave us all our evidence. Is this a possibility for you? Sorry, as I say, I've not read your whole thread.

[labman]

Re: Kensington Mortgages- Can you help on rates for KSVR

Me again. I'm sure at the time there was a court ruling, or FSA or similar went against Kensington which opened the way for our claim against them.

__________________________________________________ ___________________________________________
Again just remembered that the judgment or whatever it was was related to 2nd mortgages, not loans. However, I argued the case re the secured loan and they conceded eventually. I have a feeling there were fabricated visits to our house by White Horse as well. They were naughty! This will bug me till I dig out the papers now lol!

[Ruby]

Re: Kensington Mortgages- Can you help on rates for KSVR

PLEEEEEEEZ Labman - you have now got me going, lol.

Curiosity is seriously about to kill this cat.....

[dogtired]

Re: Kensington Mortgages- Can you help on rates for KSVR

And this one! We are still with this lot and I am convinced that the two times we have had problems our interest rate and payment rate went up.
I also have documents that state interest rates were linked to LIBOR.

[labman]

Re: Kensington Mortgages- Can you help on rates for KSVR

This was the judgment if it helps:

http://www.unfaircontract.co.uk/news/rip-off-kensington-mortgage-fined-by-fsa

Sorry, can't change colour or underline. I remember now I persuaded them that the judgment should apply equally to loans. We'd had a shed load of bounced DD's and cancelled DD's etc.... during the relevant period, even though ours was a loan. We were fighting to keep our house at the time and had four LO's against us with bailiffs on our backs in a VERY big way. They refunded ALL charges and paid £1600 in compensation for distress caused if I remember correctly.