Hi all. I have recently joined this site and have been reading posts relating to GE Money with interest.
I took out an interest only mortgage with GE in 2008 alongside a secured loan, also with GE. It was completely unaffordable and i was in arrears a lot for the first 10 years. I have not missed a payment or had arrears now for 2.5 years but im still interest only with no real likelihood of paying the morgage off given that im now 52 and have suffered 2 heart attacks in last 6 years.
I had a forensic accountant review my mortgage statements with GE Money (it was done as part of a no win/no fee claim with a solicitor) and the report provides a huge amount of detail relating to unreasonable and unlawful (their words!) charges (nearly £40,000 when you include interest).
In the end my claim could not be heard as it was outside allowable time limits but I wondered if I could use the info within the report to claim unfair charges (ie for returned DDs, field visits, etc?) If so, how would I calculate any interest on these charges? And also, is there a time limit for claiming unreasonable charges?
Thanks in advance for any help/advice received.