SPML

[martin2006]

seeing how so many peeps are taking issue with ERCs of late i thought id try.Just one prob tho, since redeeming the mortgage over 12 mths ago i have "cleansed" the filing system and cant find the account no. I know, call me stupid.

Anyway how can i get that wretched account no from spml without telling them why i need it?

they diddled me out of 4k in ERC.

[c_allen]

just give them a ring and try to blag it out of them, i've done it with crap one and it worked, i told them the tax man wanted some info for self assesment and i needed the account No

if that doesn't work just send sar and put as much info as you can then chase it up with daily e-mails after about a week

[martin2006]

i think that may be the only way c allen. ive looked in all the normal files, behind the settee and under the mattress with no luck. thanks . here goes.............!!

[markt]

did you pay them by D/D ... normally has the account number on yr bank statements.

[martin2006]

nice swerve tactics markt. im on it!!

[markt]

keep us up to date on how you get on .... i have a few thoughts on ERC on other threads. dont know whether thye are of any use.

[martin2006]

well arent they nice people!!

rang em up asked for account no and theyre sending me all statements as well........for freeeeeeeeeeeee!!!!!!!!

 

ill definately keep you all posted with this on and another one im preparing for A&L.

 

Havent had this much fun since we put laxatives in grannys tea:lol: :lol:

[Seminole]

OK, I am watching this with interest.

 

Mod Note: I was trying to merge someone else's threads to together and this one got tangled up. I think I've extracted everything. Sorry about that.

[martin2006]

O.K. got the statements this morning.SPML are now using a firm called Capstone,anyway it says they charged me £100 repayment carge and £3063.38 ERC.

The next step i assume is preliminary request for reimbursement, but do i have to allow for liquidated losses and how can i work this out if i do?

Have also got all statements fron A&L and have filled in spreadsheet so am i ready for hitting them aswell?

[martin2006]

Prelim letter sent today rec del.

lets see where this goes.

[Seminole]

They will, without a shadow of a doubt try to browbeat you into submission. Please post the text of any reply that you receive.

[martin2006]

will do. thx

[martin2006]

Got a reply today dated 9th august. They have highlighted the two points of complaint.

1Disproportionately high ERC

2wish to see calculations of how ERC worked out or refund it.

 

They say that the FSA allow them 8 weeks to investigate but they will aim to supply full response within 4 weeks.

 

Should i ignore the 8week/4week and go to LBA when my 14 days are up?

 

Thanx in advance

[Seminole]

For normal charges I would always say to stick to your timetable. With Me SPML were actually quite keen to respond but I didn't agree with the answer. I'd give them a little more time (perhaps a week) and then proceed if they haven't replied.

[martin2006]

The LBA would be due to go on the 17 aug. should i leave it till say 25th?

[too strong]

This is the old chestnut again about whether the forty days includes weekends.

I posted a thread on the Barclays section about this particular issue and received replies to the effect that it does include weekends. I was told by 2 Barclays employees that it didn't(buying time)and I thought they were a 24 hour 7 days a week bank. If I were you I would still stick to my timetable then they would know you are not someone to be messed with.

 

Just sent my request for payment of ERC from SPML so will be watching with interest I also will be starting my own thread.

[Les Gunn]

Good luck - my ERC repayment letter has gone off too - see what happens!

 

[twinkler]

Good luck to you all!

 

I too am just typing up my prelim letter for SPML. I was charged many fees along with £150 repayment charge and £3548 ERC ( ALONG WITH SEVERAL ADMINISTARATION CHARGES OF AROUND £30 EACH!

[joanneclaire]

I have just sent SPML my LBA for refused DD charges and also a return of the 'extra' interest they charged my after my mortgage account was paid up.

 

I havent claimed the £150 repayment charge? can you?? I didnt think you could claim this? If you can - how can I now add this into my claim?

 

I didnt have any ERC's on this account so that wasnt an issue for me.

 

Good luck to everyone with SPML

[martin2006]

LBA sent 17 Aug.

[martin2006]

Got what SPML refer to as full response.

Doesnt show calculations of liquidated losses, just the percentage rubbish of 6% year1 5% year2 4% year3 etc. Will therefore be going for court action on or after 4 sept.

Will probably need a little help with that. ill post a little nearer the time. in the meantime if anyone can shed some light on what needs to go on forms i would greatly appreciate it.

Thanks

[gizmo111]

Got what SPML refer to as full response.

Doesnt show calculations of liquidated losses, just the percentage rubbish of 6% year1 5% year2 4% year3 etc. Will therefore be going for court action on or after 4 sept.

Will probably need a little help with that. ill post a little nearer the time. in the meantime if anyone can shed some light on what needs to go on forms i would greatly appreciate it.

Thanks

 

This below is cut from a post zootscoot put on a different thread so you may like to PM and ask for his permission to use. Good Luck

 

We entered a contract with the defendant mortgage provider in July 04 which was conducted on their standard terms and conditions. We are claiming the return of money taken by the defendant in the way of a redemption penalty charge in Oct 05. This charge relates to our breach of contract in that we terminated the contract before the agreed period. The defendant's charges for our breach are a disproportionate penalty and therefore unenforceable as they are contrary to common law as establshed in Castaneda and Others v. Clydebank Engineering and Shipbuilding Co., Ltd. (1904) 12 SLT 498 and affirmed in Dunlop Pneumatic Tyre Co Ltd v New Garage and Motor Co Ltd [1915] AC 79. Further, as a disproportionate penalty they are invalid under the Unfair (Contracts) Terms Act 1977 s.4 and under the Unfair Terms in Consumer Contracts Regulations 1999. Para.8 and sch.2(1)(e). [ delete In the event that the charges are not a penalty then they are unreasonable within the meaning of the Supply of Goods and Services Act 1982 s.15.delete]

We have repeatedly asked the defendant to justify their charges but they have declined to do so.

[martin2006]

Like it. Ill PM zoot asap

[martin2006]

Here is the latest from SPML.

 

Further to my letter of blah blah i have completed my investigation and find as follows.

The following is a summary of the description of fees which have been applied to your account. I have also included details of the circumstances in which these charges would be payable.

£40 deeds release fee Blah blah

£100 redemption fee Blah blah

( ok i acept these fees but what about the BIG one ?)

 

My investigation has identified the following:

On repayment of your mortgage an early repayment charge of £3063.55 was applied to yout account. This charge was detailed in the section 422 of the special conditions applicable in your mortgage offer letter and is therefore part of the mortgage contract.

(section 422 reads: The interest rate is discounted by 1.75% until 31-5-05. From june 1 2005 the interest rate will convert to the base rate in force at the time plus the product margin.

If the loan is redeemed in whole or in part within the first, second or third year of completion, a sum equal to 6%, calculated on the outstanding balance on which interest is charged, is payable and 1% or one months notice in the fourth year and thereafter)

 

The ERC was calculated in accordance with the terms and conditions of your mortgage offer: being 6% of the outstanding balance of your mortgage at the time of repayment. This information was included in the Early repayment Statement supplied to your solicitors on 11-4-05.

 

The early repayment and deeds administration fee of £100 has been applied to your account at redemption in accordance with the sundry fees and tariff guide.

 

I confirm that SPMLs fees are regularly reviewed to ensure they are not unfair or excessive and that they cover the costs of the underlying work involved. SPML also review regulatory changes to see how these impact upon our business.

 

To summarise, each of the charges have been applied to your account in accordance with the termd and conditions of your mortgage and in line with the tariff of sundry fees and charges current at the time.

 

I am sorry but as a result of my findings, i am not able to uphold your complaint against SPML. I realise that this is not the response you were seeking; should you remain dissatisfied with my response you have the right to refer your complaint to the FOS.

 

If i dont hear from you within 8 weeks i will close your file.

 

 

 

So whats missing here then? OHHHH could it be the calculation of how you arrive at £3063.55 other than it merely being 6% of the balance?

 

Coz if the mortgage was say 200k. Then i would have paid £12000 for exactly the same service. sorry SPML but you havent shown your liquidated losses and i think its time for the MCOL.

 

Any thoughts anyone?

[gizmo111]

Here is the latest from SPML.

 

Further to my letter of blah blah i have completed my investigation and find as follows.

The following is a summary of the description of fees which have been applied to your account. I have also included details of the circumstances in which these charges would be payable.

£40 deeds release fee Blah blah

£100 redemption fee Blah blah

( ok i acept these fees but what about the BIG one ?)

 

My investigation has identified the following:

On repayment of your mortgage an early repayment charge of £3063.55 was applied to yout account. This charge was detailed in the section 422 of the special conditions applicable in your mortgage offer letter and is therefore part of the mortgage contract.

(section 422 reads: The interest rate is discounted by 1.75% until 31-5-05. From june 1 2005 the interest rate will convert to the base rate in force at the time plus the product margin.

If the loan is redeemed in whole or in part within the first, second or third year of completion, a sum equal to 6%, calculated on the outstanding balance on which interest is charged, is payable and 1% or one months notice in the fourth year and thereafter)

 

The ERC was calculated in accordance with the terms and conditions of your mortgage offer: being 6% of the outstanding balance of your mortgage at the time of repayment. This information was included in the Early repayment Statement supplied to your solicitors on 11-4-05.

 

The early repayment and deeds administration fee of £100 has been applied to your account at redemption in accordance with the sundry fees and tariff guide.

 

I confirm that SPMLs fees are regularly reviewed to ensure they are not unfair or excessive and that they cover the costs of the underlying work involved. SPML also review regulatory changes to see how these impact upon our business.

 

To summarise, each of the charges have been applied to your account in accordance with the termd and conditions of your mortgage and in line with the tariff of sundry fees and charges current at the time.

 

I am sorry but as a result of my findings, i am not able to uphold your complaint against SPML. I realise that this is not the response you were seeking; should you remain dissatisfied with my response you have the right to refer your complaint to the FOS.

 

If i dont hear from you within 8 weeks i will close your file.

 

 

 

So whats missing here then? OHHHH could it be the calculation of how you arrive at £3063.55 other than it merely being 6% of the balance?

 

Coz if the mortgage was say 200k. Then i would have paid £12000 for exactly the same service. sorry SPML but you havent shown your liquidated losses and i think its time for the MCOL.

 

Any thoughts anyone?

 

There is this to encourage you

 

http://www.consumeractiongroup.co.uk/forum/mortgage-companies/28200-first-successful-erc-claim.html

 

And yes I think Money claim is in order. Is tere enough space on MCOL to put all you need in claim or will you maybe need an NI.

 

Did this lot charge you a whole months interest on redemption as well?