ERC Kensington Mortgages *Withdrawn*

[ellielou]

Thanks for the info Paul - it's very much appreciated.

x

[ellielou]

I've drafted this - any comments would be greatly appreciated.

 

Dear Eversheds

RE

Thank you for your letter dated ****** requesting a one month extension to all dates specified in the Allocation Notification.

I am happy to agree to this extension as I understand Kensington Mortgage Company failed to pass the notice on to you and therefore you were unaware of the deadlines.

May I also take this opportunity to inform you that I will shortly be issuing a CPR Part 18 request for Kensington Mortgage Company to reveal how the 5% Early Repayment Charge figure I paid represents their actual costs.

I note that Kensington Mortgage Company's Defence consists of little more than a reiteration of their Mortgage Terms and Conditions and the incorrect assertion that I did not break my contract with them. The claim currently amounts to £6,441.97 including costs and interest calculated at 8%. Interest on the original sum is accruing at a daily rate of £1.26. With the above in mind and taking in to consideration that a growing number of early repayment charge claims have been settled recently. As a gesture of goodwill and in accordance with our duty under the Overriding Objectives of the Civil Procedure Rules, I would be prepared to waive the interest and court fees which have accrued to date and accept an out of court settlement from your client of £5,737.29.

I look forward to your response in due course.

 

[hulsevictoria]

Good luck!

I hope it all goes well. I am following your case and Jamorgans case closely.

[ellielou]

I sent the letter to Eversheds last week - no reply yet!

I'll let you know when I hear from them.

[ellielou]

I've received Eversheds response along with a copy of their disclosure list - which only includes documents relating to my mortgage, offer letter etc but no case law!

 

They have also declined my offer to settle for the ERC minus any legal & interest (no surprise there really) and they have also sent me an estimate of thier costs along with the line that I may wish to withdraw my claim after looking at their estimated costs.

 

To date they are £1,000 however they estimate the whole claim costs to come to.................... wait for it................ £20,800!!!

 

My court date isn't till June 2007 - should I call it a day now or is it worth carrying on. The fact that they're trying to intimidate me with the costs makes me want to stand up to them, but shall I stop this battle now & hope for victory in the CAG war?

[maroonfox5]

Hi EllielouJust had a quick read over the last few posts of your thread.Can you tell me if there is a clause in your mortgage contract that allows Kensington to claim back their legal costs from you and does it give you the option to terminate when you like?.MF5

[ellielou]

Hi Maroon

 

I'm not sure off the top of my head but will have a look tonight & post tomorrow.

 

Ellielou x

[ellielou]

Hi All

 

It pains me to say it but I've agreed with Kensington to drop the claim - too risky at the present time. However, on a good note they've agreed to each party bearing their own costs - so altogether it's cost me £350 - nothing ventured nothing gained

 

Many thanks for everyones help with this.

 

Ellielou

[zootscoot]

Hi Ellielou

 

 

Its a shame to end it this way, but you're right, the risks are too great in fast track.

 

Best wishes

 

Doreen

[rubber duck]

Hi Catherine

 

I seem to remember reading a thread on here where a financial advisor said that mortgage companies out source their admin to other companies & many of them are out sourced to the same admin firm. Which may be the reason for the identical letters.

 

I'm a bit worried about it all to be honest but it was the support on here that gave me the courage to register the claim. Hopefully they won't want the publicity and just pay out..................... or maybe not ;-)

 

I'll keep you updated.

x

 

 

Hi There

 

don`t forget..give them the publicity they they do not want!..ring a newspaper and tell them your story so everybody knows about these people..i have already done that and boy..were they interested !

so do not be afraid and take the fight to them..the least they want is negative publicity! so let them have it!

good luck.