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mortage arrears charges


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Our mortage company are charging £54 per month until the arrears are cleared and also charge £25 for not having the house insurance with them. Would these charges be worth claiming back?

 

Arrears yes - insurance no.

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Yes mine did the same but £40 per month total £360.

 

Ive written to them but had letter saying "OFT applies only to credit cards" letter back, sent them the letter saying "why do you think the statement not apply to you etc etc" heard nothing back, so Im assuming I just carry on MCOL on friday as planned?

 

Are people winning against mortage companies?

Allyxia

KEEP FIGHTING FOR YOUR MONEY - EVEN WHEN IT GETS TOUGH

The Banks are somewhere which lends you an umberella when it is sunny, and takes it away when it rains

 

HSBC £1200 - Settled in Full

Cap 1 2 X £100 - Settled in Full

Nationwide £1641 - Settled in Full inc Default and CCJ Removed by Court Order

NatWest £2215.60- Settled in Full and Removed Default Natice

Woolwich £3690 - Settled in Full

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Yes, and yes.

 

I'm having a thought here, though. (you may pause and pray at this point, lol)

 

IS the £25 not reclaimable?

What are you being charged for?

Are they providing you with a service? Hardly.

Are they punishing you for not using the service? Yes.

Does it cost them £25 for the insurance NOT being with them. I have my doubts.

 

I'm going to look into it and I'll get back to you.

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Yes, and yes.

 

I'm having a thought here, though. (you may pause and pray at this point, lol)

 

IS the £25 not reclaimable?

What are you being charged for?

Are they providing you with a service? Hardly.

Are they punishing you for not using the service? Yes.

Does it cost them £25 for the insurance NOT being with them. I have my doubts.

 

I'm going to look into it and I'll get back to you.

 

i think i read somewhere and not sure where that the charge came in the form of reading the policy that you got from elsewhere and filing it etc. Dunno if it costs £25 doubt it!

Consumer Health Forums - where you can discuss any health or relationship matters.

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Our mortage company are charging £54 per month until the arrears are cleared and also charge £25 for not having the house insurance with them. Would these charges be worth claiming back?

 

Ok, Griffiths, could you answer me these questions, please, before I can answer precisely?

 

1) Are the £54 on top of paying off your arrears? What is it called on your mortgage statement?

 

2) Is the £25 a monthly or annual or something else charge?

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  • 6 months later...

I believe my sister is in a similar situation so if it is, what has happened is her mortgage company are calling the £54 per month Arrears admin charge, that is how it appears on the statements. On top of this they are charging her interest on the arrears as well as the normal mortgage interest. She was also charged £25 a year for not taking her mortgage companies insurance. I did sucessfully asrgue the case for her on that because she had a flat roof extension and they didn't insure for that anyway.

So I think the £54 is in fact a penalty charge, is that you you are reading it Griffiths5?

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Would be grateful if someone could advise me please.In the last 4/5 years of our mortage and just read article in a daily about mortgage arrears charges etc. We have been in financial difficulties a few times over the last 21 years of our mortgage and have been charged for being so and at one point we were actually "fined" for being in arrears (Nationwide ). Is there any way we can challange these charges etc. like the bank charge boom? If so how far can you go backand is it the same procedure as the bank charges. We havent kept allour statements forall these years but we have held on to some documentation.Please help

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