Harsh Letter received from Kensington *Claim struck out in court*

[kennyh]

I'll drink to that - Please just post straight forward 'send to' details if PayPal is to be used then we can get some funds in for 'Morgy'. I've already said I would but have been somewhat sidetracked by a project I'm assisting with. Looking forward to seeing the transcript someday.

Keep with it Morgy - still v.interested in the court clerk's comments - as no doubt are you.

[hulsevictoria]

Are you setting up some sort of fund for Jamorgans court costs? I'm surprised the process was not as simple as I had first thought. I would have expected it to be over by now.

I will be willing to contribute.

[lellypea]

Here I am standing in the wings again.....No question babes ..... my piggy bank bursting with Morgy Money.....Maroonfox has taken the plunge (bless!)..... don't think...just do it hun!!!!

 

Everyone knows it's hard to accept this kind of help.....but you must...WE are ALL endebted to you. As Bona says - let those who want to help in this way do just that.

 

Don't write a word.....just post your paypal account. TAKE A DEEP BREATH - DO IT - log off, forget it, an have some wine!!!!!

 

xxxx lel xxxx

[kennyh]

Yeh - wot she said!!

[The Avengers]

Hi Everyone

 

Just been speaking to a reporter from Daily Mail there will be an article in the Daily Mail about the ERC penalties.I have told him about Jamorgans Story,they will be atarting a big campaign.

SO BUY THE PAPER and see what they say.

[zootscoot]

Hi Avengers,

 

I have made some space in my pm box now:)

[ellielou]

Glad to see you're still fighting Morgy

 

Get your paypal account on here & let us all help you out. Without you and others having got as far as the courts, the rest of us wouldn't be where we are now - LET US ALL HELP.

 

X

[Guest willowb]

Yeh - wot she said!!

lmao...ditto!

 

When you are ready, please let us help.

 

Wxxx

[Billy55]

Jamorgan can you e-mail me a copy of the transcript please (as well as details of paypal account to maake a donation)

 

Many thanks

[zootscoot]

I think its best the substantive parts of the transcript remain private for now.

[sbfido]

Waiting for the paypal account to be set up, There is a lot of help apparently waiting.

 

Let us do our bit in relation to this matter and give to the fund for your cost and hopefully raise enough to bring in a barrister!!!!!!!!!!

 

Keep fighting and chin up!!!!

 

SB

[noteri]

Hi to all,

 

Here's my storey so far.

 

Had a mortgage with Kennsington (Now call them selves MAS)

had for 1 year slightly discounted then interest rates kept climbing in the first year and reached 9%.

Had to get out fast so got stung for £7240.00.

Sent letters off to complaints found in the libary and like other people on these threads I have recieved the foboff response and in short words tuff charges stand.

 

So I followed there complaints procedure and escalated the complaint to stage 2,

But had this back.

 

I belive that the recent press coverage concerning bank charges may have given you the impression that you have a valid claim. MAS6 of course is a mortgage lender not a bank,and your complaint does not concern bank charges but rather ERC you paid when you redeemed your mortgage account.

 

From your letters, I see that you do not fully explain precisley which aspects of the common law you consider have been infringed by MAS6 applying the ERC to your account. Furthermore you have mentioned in your letter "statute and recent consumer regulations" but are no more specific than this. If you issue court proceedings you will of course have to refer in your claim to the relevant Common Law principles and/or statutory provisions. Without this detail I am unable to understand the precise basis of your complaint and therefore perhaps you would assist me by providing this info to me now.

 

I must advise you that if you do not provide us with these details and do issue proceedings, our solicitors will draw this to the attention of the District Judge and invite the court to take your refusal into account when considering your liability for our solicitors' costs.

 

You do however make reference in your letter to bank charges being ltd to expenses actually incurred because of a customers breech. You therefore seem to be likening bank charges relating to customers breaches to the ERC, when in fact two are entirley different. You of course did not breach your mortgage agreement by redeeming your account. You were quite entitled to re-mortgage with another lender. The ERC is therefore not a charge to penalsie a defaulting borrower.

 

The ERC, which was a major term of the mortgage agreement clearly detailed to you, and which you specifically agreed to pay if the account was redeemed within a short time of the mortgage completing, was charged because the precise details of the mortgage product offered to you were,as you will know, based on repayments over a period of 30 years. As such, the proposed mortgae contract was based on the reciept of monthly payments long term after the time when you decided to redeem and the ERC was included in your mortgage agreement to ensurethat your martgae remained finaciially viable transaction for MAS6 in the event that you chose to redeem your mortgage within the first 5 years rather than contine the contract for the agreed 30 years. A mortgage is after all by it's very nature a long term finace agreemeny, not a short term loan and the long term funding arragements are a key consideration.

 

You also state in your letter that MAS6 was under an obligation to conduct itself "lawfully and in a manner that complies with uk law," the suggestion being that ther has been a breach of this obligation. This is a serious allegation. Again,without specific details of the basis upon wich you believe that there has been any unlawful conduct or breach of obligation by MAS6, nor specific reference to the relevant statutory provision(s) I am unable to comment on this point further.

 

In a letter to you of 21st July 06 my collegue referred you to the content of the mortgage offer and t&c which allow for ERC.All in all the details could not have been made any clearer at the time you were cinsidering yuour mortage.

In short the Erc is applied to an account for sound commercial resons and you agreed to pay it if you redeemed early.

 

I have looked into this matter and the complaint is misconceived. If you wish to start County Court proceedings you sould serve these upon our solicitors whose details can be supplied on request. The claim would be defended. You should consider carefully your liability for solicitors' costs before commencing your claim and on this basis I would recommend that you seek independant legal advice in this matter than run the risk of incurring further expense by way of solicitors and legal costs.

 

HELP! anyone please

Morgyx

Good luck with your claim. I am considering claiming, i was 2 days away from loosing my house, i cannot belive in this day and age that the goverment allows loan sharks such as the Kensington to exsist. I have re-mortgaged thankfully now and i am away from the excesive charges and intrest rates which just keeps climming. It cost me £13,300 to redeem the mortgage (6%), (what is this for they were charging 9% intrest), that i had with Kensington, and i lost track of how much they charged me for missed payments and managment costs the two and half years i was with them.

 

Hope you do them.

:)

[dolly]

Morgy, have you got a paypal fund set up yet? Can't see one but maybe I am being dense!

[lellypea]

Lots of hugs to you Morgy ....... we're all still here for you .......shaking our Morgy pennies for your little paypal piggy bank..... the minute it's up an running (so to speak!!!)

 

xxxxxx lel xxxxx

 

xxxxxxxxxxxxxxxx for you too Dolly xxxxx

[The Avengers]

Just to let you my friend went to court yesterday for a directions hearing and the court HAS decided to let it go ahead to a Full hearing date to be advised.There was a Barrister and soliciter from the other side but she also took her husband(a soliciter)and counsel,and from what she says evrything they argued was argued back in the same eloquent manner that it was given and on the same level.Unfortunately unless you are able to speak the same language as their representatives I dont think any of us stands a chance,thats why we will DEFINATELY be taking counsel advice ,because unfortunately although we are given good advice on this site its not the same.

[The Avengers]

Meant all the arguments the Mortgage company put forward was met with the same from her representative.Mortgage Company .........Kensington

[zootscoot]

That is good news gives us all hope.

 

Priestly and Martin also managed to avoid having their claims struck out it seems different judges have different views on ERCs.

 

I'm sure their will be more good news on the horizon soon.

 

Best wishes

 

Zoot

[blidge]

re harsh letter rceived from kensington

 

been reding thi thread for hours got to 3rd Mrch page 16 then can't find rest!!

 

any further developoments?

[jamorgan]

Hi blidge,

Seeking some advise and having my transcript and appeal letter ok'd taking a little time but hopefully it will be worth it then it's off to the court with the appeal we go.

So it's all a bit of a waiting game again

x.

[blidge]

Will be watching with anguish, as only just started reading your story today. We actually had to sell our house last january (just before reposession) now in rented acommodation, and came on the site after a neighbour received money back from gmac, without having to go to court. Kensington completely wiped us out, same story as yours interest rate just kept going up after initial period and we couldn't cope, but because of thr early redemption fees, we had no deposit for another house!

 

Will keep watching, and wish you all the very best. You are a pioneer

[hulsevictoria]

Jmorgan. Your fighting it. Good Luck.

Let me know how to get my donation to you. How do you want me to make a payment. Send me a private pm if you want.

Cheers.

[catherinebear]

Hi Blidge and everyone

Same story as yourselves had mortgage with GMAC got into difficulties remortgaged with Kensington then husband made redundant couldn't keep up the payments because they just kep going up and up and when I telephoned and told them I was ill and facing surgery they just said tough. We loaned money from a friend to try and keep our house but couldn't in the end we had to sell or be repossessed and they charged us £7,500 ERC although we were only 5 months short of the term!! The only thing was because I was disabled I wrote to a Housing Association near my mother-in-law in Norfolk and at the 11th hour we were given a 2 bedroomed bungalow in a lovely village.. Someone up there was surely watching over us but I still want to make Kensington and GMAC pay for the pain and misery we suffered. We did write to the Financial Ombudsman about Kensington but had no joy. Good luck to us all fighting the big fight lets hope that there will be good news for us all soon.

Catherine Bear

xx

[kennyh]

I'm with 'hulse'; let me have contact details morgy, pm if it's easier

[bagone]

Me too ... and may the financial gods be with you on this one;-)

 

Regards Bagone

[Guest DEATHLORD]

Well jay and every one, I think we have missed some thing here or may be not I have claimed that the ERC are a fine, penlty or a bit of loss of profit for the company and not a breach of contract. I have not found any one who can tell me what a payment of some £14,000 is for as if they are paid the full amount back what have they lossed nothing but their profit!

And then angain who was the one back in the 1990s who stated these compaines need to be looked into none other than the PM! and even done a TV interview about it.

I am a simple man but these are all worng and like the banks we need just one to break the moud and the rest will happen.

As the compaines know that they are sub pime lenders and charge higher rates and I can not see why they say theres such a high risk to them and thats why the high ERC charges

Does any one know the fund details?