Southern pacific (SPML). Mortgage Late Payment Fees reclaiming

[angnnig]

Hi Ell-enn,Thanks for your reply.We have decided to try and get our charges back with SPML and kensington .Im know we can claim the arrears management fee but not sure about litigation fees,interest on the arrears or missed direct debit fees,any help would be appriciated thanks.kind regards angnnig

[Ell-enn]

You need to ask them for a breakdown of the litigation fees so you can see exactly what you have been charged for. You can ask for the missed direct debit fees as well as the arrears management fees.

[angnnig]

Thanks for your reply.kind regards angnnig

[angnnig]

Hi I am in the process of claiming back unlawfull mortgage fees from CAPSTONE and KENSINGTON I was just wondering if I could use an ordinary bank charges calculator or is thier a calculator just for mortgage charges ,Thanks for any replies .regards angnnig

[nowayjose]

Hi Kensington have charged us £50 for every month we have been more than 1 month behind on our mortgage, I am not in arrears now, but as an estimate I would think over the years I have been charges around £900.... Am I able to reclaim these charges???

Thanks NWJx

[angnnig]

bump

[angnnig]

Hi can anyone help please

[42man]

I'm pretty sure you can use one of these

[angnnig]

Hi 42 man ,Thanks for your reply.regards angnnig

[angnnig]

Hello,I hope someone can help.I am just about to try and claim mortgage arrears fees and interest on arrears from CAPSTONE and KENSINGTON ,but I am struggling to find a morgages charges calculator .I know that thier is a bankcharges calculator on the martins money saving sight,would it be ok to use this and can I charge 8% on the interest on the arrears fees.Thanks for any replies.regards angnnig.

Edited June 5, 2010 by angnnig

[angnnig]

bump

[angnnig]

HI can anyone help ,please:confused:

[supersleuth]

Hi Angnnig,

 

You can charge them the same contractual rate of interest that they charged you. The contractual rate of interest is compound interest and usually compounds 12 times per year.

 

You don't make it clear, but the 8% figure you refer to, is that the statutory interest rate you are referring to? If so, that is charged simple interest. You might want to fully research and study interest rates to determine your calculations for an accurate reflection of just how much they have screwed you for.

 

Attached below is a useful guide explaining interest rates. Whilst you are told the APR interest rates, the bankers and corporate financiers always use the effective interest rate when working out the return on your loan because it more accurately reflects how much they actually got from you. Don't be put off, you can work it out and understand it if you are motivated and determined.

 

Hope this helps

EFFECTIVE INTEREST RATE EIR_Tucker.pdf

[angnnig]

Hi supersleuth ,Thanks for your advice,I haven,t got a clue about all this.your right I think its time I learned,kind regards angnnig

[angnnig]

Hi,I am struggling to find a mortgages calculator, as I want to claim unlawfull mortgage fees from kensington and capstone.Also can I claim the interest on arrears and admin charges back.thanks regards angnnig

[actionnotwords]

angnnig

Please read the spml thread.(Crapstone's latest post)

Experienced Caggers have stated you only need to issue a SAR then claim back all the charges that are not mortgage repayments,if the expected no response or denial comes then refer the matter to the FOS who will work out what you are entitled to.

Why do you need a mortgage calculator?

[angnnig]

Hi action,Thanks for your advice i ,l look on that thread now.About the mortgage calc,i just thought thier was a an online calc that worked out the figures so that i could print it of ,Ive just found one today its on open office ,its a calc thats on a spreadsheet and best of all its free.regards angnnig

[DanDesperate]

bump cos I would also like to know.....please

[flower2]

Hi it is possible to claim.

 

I have recently claimed charges back from SPML had to eventually involve the FOS. Eventually agreed to just over £700. However 6wks later I am still waiting for SPML to contact me as to how it will be paid. I have gone back to the FOS who said they would get onto them but still not heard anything, but won't give up will be back onto FOS next week.

 

Go for it & best of luck

[angnnig]

Hi Flower,well done for getting SPML to agree to giving your arrears back,I am in the process of claiming my charges back from them, just over £4000 .I am just curious as to how long it took from when you first asked for your charges back to get them agree to pay you the charges.kind regards angnnig

[angnnig]

Hi all,SPML (CAPSTONE) have recently tried to evict us from our home ,which we narrowly escaped.*see my other thread on here*.They are trying it on again.They now are saying that we owe £35 on top of our £3,400 in arrears and that we are in breach of the suspended repo order on us.We dont know were this £35 has come from as we are paying the agreed monthly amount on time.We have worked out that they owe us £4351.73 in charges this includes admin fees,arrears managment fees ,interest on arrears fees,litigation fees ,early statement fees and legal costs.We have now had enough of these threats from them and are considering taking them to court to try and get the repo order on us lifted on the grounds that capstone owe us more in unlawfull fees than we owe them in arrears,but we are wary of doing this as the court might not accept all the charges we are claiming are unlawfull and that thier could be a shortfall and we might still owe capstone.Any advice greatly appreciated ,thanks.regards angnnig

[AV2010]

Hi,

I am wondering if making a claim for charges can stop an eviction order being given.

Would the claim for charges and the account being "IN DISPUTE" stop an eviction order being given by the court.

I ask because we are in arrears with our payments and if we can gain some time ( a month or so), we will be able to pay the full monthly amount and £500-600 in addition off of the arrears (due to additional income recently sourced). As it stands, from what SPML tell us, by the time we can start paying the additional money, the eviction notice will have already been issued.

 

Any advice regarding this would be greatly appreciated.

 

Thanks,

 

AV2010

[flower2]

Hi Angnnig

 

Started my claim against them August last year, invilved FOS November had an offer March 2010 which I declined new offer May but as I said still waiting. My claim was for over £2000 but only got just over £700 but then that is better than nothing. It also seems to have some effect on them apply charges now.

 

Best of Luck do everything in writing & send recorded, don't speak to them on the phone you will get passed from one person to another & each one will say there is no record or something along those lines.

[DanDesperate]

Seems a long process but worth the chase. I found you can get them to cancel an eviction as long as you pay the arrears on the loan even if the charges are still outstanding.You really have to insist they tell you how much the actual arrears on the mortgage are and not lumped together with the charges. I don't think the courts look on them too kindly for eviction because of arrears on extortionate charges. Its not the perfect solution but it has helped us buy some time. Now in the first stages of claiming the charges back, sounds like it could take a good 12 months..... as long as I get 8% it could actually work out as a good investment LOL

[angnnig]

can anyone give advice on this please ,regards angnnig