Default notice charges £60.00.

[libby9]

My Mortgage Broker/Secured Loan Company is charging me £60.00 each per month on 1 mortgage account and 3 secured loan accounts is this a fair amount to charge?as they are adding interest plus arrears to each account.

[miliitant]

Re: Default notice charges £60.00.

are they sending you each month a notice of default sums under section 86e of the consumer credit act 1974

[Guest]

Re: Default notice charges £60.00.

My Mortgage Broker/Secured Loan Company is charging me £60.00 each per month on 1 mortgage account and 3 secured loan accounts is this a fair amount to charge?as they are adding interest plus arrears to each account.

The default charges should be itemeised in your respective agreements, if not you can challenge them.
If any of these are regulated under the cca you should be receiving monthly statements of default sums, these should appear as separate entities on your statement as the creditor is only allowed to charge simple interest on them and no interest at all for the first month.

D