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We believe we have been excessively charged mortgage arrears fees amounting to £3600 that we have demanded from our lenders that we should not pay. We have finished paying the mortgage just owing the fees that we believe we should not have to pay or least at fair and lawful lewvels. We also believe we were mis-sold the mortgage on 8th December 2003 because 2 of the 3 signees were of retirement age 10 years (of 15year mortgage) before the mortgage completed. We at the time of his retirement got into arrears (all payments met before) and have taken out loans from family to stop being repossesed twice. We also were charged £40 per month for mortgage arrears admin fees. There was no sheet of tarrifs sent at the beginning of the mortgage. (although there was an early payment shortful charge of £15) However GE Money Home Loans charged us on 17 consecutive occassions for 2 direct debit recall charges of £25 and bounced cheque fee of £25 amounting to £115 in some months. We have proof that GE Money were using automated intelligent IT sysems from 2002 that required no intervention from humans but yet they were still charging £40 arrears admin fees. We have complained to the FCA Executive that they should be enforcing MCOB 12.4.1 cost price only and 12.5.3G lowest in same sector (which is £14 per month) They tell us to go through the FOS.
Our mortgage has been sold on twice from GEHL to Engage Credit (Pepper UK) and again to CHL Mortgages who is liable to claim the fees against? We have made a formal complaint to all 3 lenders in December 2019 and made a complaint to the Financial Ombudsman Service in Feb 2020 against all 3 as they unsurprisingly rejected our complaint. However FOS tell us that it is a complicated case and that it may be February in 2021 before they can even investigate. I have heard that FOS are not very good anyway nd it is taking too long so we are considering taking legal action through the small claims court. Should we try to persue the mis-selling for all of the fees or just excessive fees (which we calculate on compound interest of 8% APR to be £6300)? Can you take all 3 lenders to court or is it the most recent or those that actually charged the excessive fees.
Thanks
Mark
We believe we have been excessively charged mortgage arrears fees amounting to £3600 that we have demanded from our lenders that we should not pay. We have finished paying the mortgage just owing the fees that we believe we should not have to pay or least at fair and lawful lewvels. We also believe we were mis-sold the mortgage on 8th December 2003 because 2 of the 3 signees were of retirement age 10 years (of 15year mortgage) before the mortgage completed. We at the time of his retirement got into arrears (all payments met before) and have taken out loans from family to stop being repossesed twice. We also were charged £40 per month for mortgage arrears admin fees. There was no sheet of tarrifs sent at the beginning of the mortgage. (although there was an early payment shortful charge of £15) However GE Money Home Loans charged us on 17 consecutive occassions for 2 direct debit recall charges of £25 and bounced cheque fee of £25 amounting to £115 in some months. We have proof that GE Money were using automated intelligent IT sysems from 2002 that required no intervention from humans but yet they were still charging £40 arrears admin fees. We have complained to the FCA Executive that they should be enforcing MCOB 12.4.1 cost price only and 12.5.3G lowest in same sector (which is £14 per month) They tell us to go through the FOS.
Our mortgage has been sold on twice from GEHL to Engage Credit (Pepper UK) and again to CHL Mortgages who is liable to claim the fees against? We have made a formal complaint to all 3 lenders in December 2019 and made a complaint to the Financial Ombudsman Service in Feb 2020 against all 3 as they unsurprisingly rejected our complaint. However FOS tell us that it is a complicated case and that it may be February in 2021 before they can even investigate. I have heard that FOS are not very good anyway nd it is taking too long so we are considering taking legal action through the small claims court. Should we try to persue the mis-selling for all of the fees or just excessive fees (which we calculate on compound interest of 8% APR to be £6300)? Can you take all 3 lenders to court or is it the most recent or those that actually charged the excessive fees.
Thanks
Mark
