Nationwide only need to comlpy with your draft order if the court actually ordered it - hence citizenB's questuion about general orders from the court

Could you e-mail or write to your contact in the OFT and get them to say it is unenforceable in writing. if you have that, then you can tell the lender to get lost.

Do you have that in writing?

I'm sorry to have to say this jools but I think the title of the thread is incorrect - I don't think you are being forced onto a higher rate because you are in the armed forces. You are being forced onto a higher rate because you are letting the house out. I don't know what happened when you bought the first house - did you live in it to start with and then let it? If not, you were probably just lucky to get the residential rate. It is normal practice for lenders to charge a higher rate on commercial mortgages, which is what they consider mortgage-to-let to be. I have a similar problem in that I took out a mortgage on the house I actually live in to buy a house to let - I still have to pay the higher rate. Sorry to be the bearer of news you don't want to hear but I don't think NR are treating you unfairly in this respect.

Dragons Dennis I have just read your message and the posts on this thread. Unless I am missing something (which I admit could be the case), I can't see anything wrong with perplexity's post. It is a common practice on CAG to quote all or some of the post you are replying to to avoid confusion. In this case, by quoting your post #7, perplexity is showing that (s)he is answering that post rather than post #9, which comes immediately before his/her post #10. As to perplexity's comments, as far as I can see, they seem to be agreeing with you but adding some details, for example, by providing the section of the Consumer Protection From Unfair Trading Regulations 2008 which support you assertion that the e-bay trader is acting unfairly. In the absence of other information, it seems to me that perplexity is trying to help you rather than make you feel unwelcome. Otherwise, what watchinvsetigation2011 said.

Be very careful with point 3 - an credit card application may well count as an original agreement, depending what is on it.

To use MCOL you put the POC on the form online but there is very limited space. You pay by credit card online too. For bank charge reclaims we always advised against using MCOL because the space for the POC was too small to make a decent case. I am not sure it is an option to send the comlpete POC later - the court would probably consider it a revised POC and charge you accordingly. I have looked at you latest schedule and that looks OK to me.

If there is a hearing (and I seriously doubt that Welcome will let it get that far), you go armed with a scedule of costs - time (£9.25/hour, I think it still is) and disbursments. In theory, you should send it to the other side in advance but my experience is in being given it by the other side on the day (before the hearing)

Just ignore them and press on regardless. Once they settkle, you can revisit the issue of how it is paid a you can make that part of the agreement and refuse to agree until they agree to pay it where you want. One other point (raised by MARTIN3030) is that your claim must not claim they have committed fraud - find another word, if it is still in your POC. Fraud is a criminal offence and very serious.

The case is a bit hypothetical, so I think it should be assumed that you would have arranged an overdraft (or other loan) to cover the 'missing' money and use an appropriate rate. You could say that you would have taken out another lon to cover it at, say, 16.2%. You have to pick a rate which you can defend a being reasonable. Actually, that might be the simplest. My point above though is that all the 'payments' should be treated the same.

Ida has asked me to have a look at this. However, the thread seems to have been spread over about 9 months - what is the current position? As to the agreement posted in post #8, IMHO it is enforceable. Certainly a court would rule that it is a 'true copy' and it has the prescribed terms on page 2. Ida asked whether there were PPI or late payment charges, but I didn't see an answer.

I think you should use the arranged overdraft rate, whatever that is. In the POC you could say "... interest in restiution at Mybanks' arranegd overdraft arte of x%...." What I meant was - in your schedule you have an amount paid in each row which is a combination of PPI charge and interest. The interest rate you should use for each of these is the same irrespective of the interest component of the amount paid itself. I hope that is clearer.

Mr Z Had a quick look at the schedule - I think it is still not quite right. The interest you are claiming is in restitition and represents an estimate of your actual damages. By that I mean that, because Welcome took payments from you unfairly/unlawfully and charged you interest on top, that effectively left you short of money . To replace that money, you would have had to borrow it at commercial rates of compound interest (or you would have had to take it from your savings and lost the potential to earn interest - boils down to the same thing). Therefore, the rate of interest you use in that calculation bears no relation to the rate of interest they charged you in different periods on the loan itself. You should choose a rate (I would suggest the obvious rate is the interest rate your bank charges for overdrafts since that is probably where the money actually came from) and charge that same rate for all payments plus interest, irrespective of the rate on the loan at the time.

I think you need to be able to show that either the charegs are unfair under the various unfair relationship regulations or that they are contract penalties - ie that they are charged in direct consequence of a breach of a term in your mortgage agreement and that they are more than the company's actual losses occasionaed by that breach of the agreement.

I don't think format is important provided everything is clear - meaningful column headings, totals clearly labelled and a means of identifying the case at the top - claimant, defendant - head each sheet Schedule 1, Schedule 2, etc so they can be referenced from the claim

Must have been, surely

You can't claim both interest in restitution and s69. You could put something like "The claimant claims compound interest at the rate of 16.2% per annum totalling £x as in Schedule 1 attached in restitution on the basis of Sempra v Inland Revenue. If the court is not minded to award compound interest, the claimant claims interest at 8% per annum puruant to s69 of the CountyCourts Act 1980 in the sum of £y plus £z per day from the date of claim to the date of settlement." However, I chose not to do that in my Goldfish claim (where I got compound interest on the basis of Sempra) because I didn't believe it would ever get to court and I didn't want to give GF the alternative. But that's just me.

her SOS's

If you actually have a monthly rate you should use that - as I said, everything else is derived from it anyway. So the daily rate is the monthly rate *12/365 so d = 0.044% and the compound interst on a particular charge is therefore p*(1.00044)^n - p, where p is the charge and n is the number of days between the date of the charge and the date of the claim.

If youput 16.2 in my formula and 0.162 in yours you shouls get exactly the same. You can't use a percentage as such - that is why mine dives by 100 to give the percentage as a decimal. Anyway, I know that mine is correct if you put in the actual APR. If you are using an AIR then the formula is much simpler - it is just AIR/365

Use the monthly rate they give - that is the correct number, everything else is derived from it. If 4.92% is an AIR, then the monthly rate is indeed 0.41%. If it is an APR, then the monthly rate is 0.335%

OK, I misunderstood, I thought the £100 was the PPI loan amount - let's start again. There are 3 periods where you paid respectively 16.2%APR (1.26%/month), 0% APR (0%/month) and 4.92% APR (0.34%/month) - lets call them periods 1,2 and 3. Period 1. You had a loan of £x of which £y was PPI and you paid £z/month for 72 months. I think you can forget about the interest rate and just say that you paid £ z*y/x / month for the PPI. So create a spreadsheet, with each payment and its date on a row each (72 rows) Period 2. You will have had a different repayment amount - call that £w. Then the amount you paid each month for PPI was £w*y/x. Add rows for each of these payments to the spreqdsheet with their dates. Period 3. Again there will be a new repayment amaount - call that £v. The amount paid each momnth for PPI was £v*y/x. Add rows for each of these payments to the spreqdsheet with their dates. Add up the payment column to see how much you acturally paid for PPI (this includes interest payements - you don't actually need the interest rate(s) to calculate this) Choose a date for the claim. Add a new column to the spreadsheet and in each row calculate the number of days between the date of the payment and the claim date. Excel has a function that will do this. Choose an annual rate of interest for restitution - call it r%. Calculate the daily rate d% = ((1+r/100)^(1/365) - 1)*100. Add a new column to the spreadsheet and in each row calculate the interest in restitution for that payment. Let p be the payment in a given row and n the number of days between the payment and the claim date. The interest in restitution is p*((1+d/100)^n - 1) Add up the column to give the total interest in restitution. I know it seems complicated but this will give the right answer for how much you actually paid for PPI including interest and it gets the restitution right too. You have to treat each payment seperately as the time over which interest is to be claimed is different for each one. I hope this helps.

Re post 152. I don't think it is as simple as that. Let's say you borrowed £100 at 16.2% APR (monthly interest of 1.26%) but were paying it back over 10 years - that would give a monthly repayment of £1.62 (the fact that that is the same numbers as the interest rate is completely coincidental!) So after month 1, they add 1.26% interest = £1.26 and you pay £1.62 giving a balance of £99.64 After month 2, they add 1.26% interest = £1.25 and you pay £1.62 giving a balance of £99.27 and so on until month 120 the balance at the start of the month is £1.60, they add 2p interest and you pay £1.62 to give zero In your case, you have 72 months at 16.2% which goes like months 1 and 2 above, then 12 months at 0% where you are paying a fixed amout each month and they are adding nothing, then however long at 4.92% which is again like months 1 and 2 above but with a monthly interest rate of 0.34% and some monthly repayment depending on the number of payments. So, working out the interest you have paid is not simple - you need to use DualCalc (http://www.shweb.pwp.blueyonder.co.uk/dualcalc_installer.exe) See also my interest tutorial (http://www.consumerwiki.co.uk/index.php/Interest_Tutorial)

I would write to Arrow Global Guernsey Ltd under s77/78 of the CCA 1974 and ask for a copy of the agreement and a statement of account for the alleged debt. See if than come up with something. Many of these companies buy batches of debts without the proper documentation.

Arrow Global Guernsey Ltd own it now