Claiming mortgage penalty fees back from GE Money

[walkers40]

Has anyone got any information on GE Money and their penalty and admin fees on home mortgage accounts ?
I have had over £4.200.00 in charges since 2007-20010 added to my interest only mortgage and like to re claim back. !!!
Thanks in advance.

[IanM]

Re: Claiming mortgage penalty fees back from GE Money

Has anyone got any information on GE Money and their penalty and admin fees on home mortgage accounts ?
I have had over £4.200.00 in charges since 2007-20010 added to my interest only mortgage and like to re claim back. !!!
Thanks in advance.

Hello, you need to send a Subject Access Request to the lender and specifically request a copy of the full statement of account showing all transactions.

Once you have it, if they give it to you, is to check when the fees and charges were added to the account and look for any letters where the lender tells you that these fees etc will be added to your account. No letters no fee can be added regardless of whether it says in the contract you give them permission, permission in the contract or not they still have to tell you when they are adding it to your account.

Ask for a copy of the underwriting sheet as well as there is information on there that the lender does not want you to see but you are entitled to see it!

[walkers40]

Re: Claiming mortgage penalty fees back from GE Money

1. D/Debt recall charges @ £365

2. Administration fees @ £1880

3. Solicitors fees @ £1230

4. Debt counseling @ £47 (never had)

5. Valuation and Default notice @ £75

And interest on the above charges as if they were part of the original mortgage from 2007 to 2014

Original sum borrowed £148,000 (interest only)
as of Oct 2014 Account at £152,285 (15 years left to end of mortgage)

[IanM]

Re: Claiming mortgage penalty fees back from GE Money

If you have already done a SAR and have a copy of the full statement of account you have to start at the beginning matching each charge to a date on the statement, check your SAR package for notification letters for each of the charges applied.

Direct Debit recall charges? Did you have a direct debit setup for payment or did you pay by another method instead? (I pay mine cash direct into mortgage companies account rather than DD so they cannot charge me for DD recall even though they have done)

Administration fees- work out what they are all for and you could well claim some/or all back as being unfair and excessive.

Solicitor fees- probably in respect of repo hearings as is normal but check when they were added to your account, when you were notified, and whether or not they could have collected them from you at an earlier time without them incurring interest by being added to your balance.

Debt counselling, never had it? challenge it and have the charge refunded.

Valuation and default notice? Not sure about this one.

If any of the fees or charges were added to the balance that you were not notified about or they didn't collect at the earliest opportunity by notifying you as soon as the charges became due then all your mortgage payments since they were added have been miscalculated and any arrears amount they claim are wrong so challenge any arrears if you go to court.

Complain to and claim from the lender first then make a complaint to the FOS once they make a final decision if you do not get some of the fees and charges back.

Some serious cases of false accounting being done by these lenders and they need finding and exposing!!!

If you obtained your mortgage through a broker then ask the lender for a copy of the Underwriting Sheet if you don't have a copy and check if they paid any commissions to the broker that you have never been told about, if they have then they have caused a conflict of interest between the broker and you as a customer of the broker looking for the best available mortgage for you at the time you took it out, creating a contract out of deceit and the contract can be rescinded.

Triple check all your paperwork and get advice from a solicitor before taking any course of action due to advice given here, every case is not the same so check all your facts thoroughly before making any decisions.

Thanks.