MAMF's etc with Kesington

[carlastc]

I have a mortgage with Birmingham Midshires and a second mortgage with Kensington.

 

I lost my job in January this year and,although I have been making the mortgage payments so far, I anticipated that this would become difficult starting with July's payment.

 

I contacted both companies as per government advice and Birmingham Midshires went through an Income and Expenditure form with me.

 

They said that I should first try to reduce what they call "unecessary spending" and then contact them again, as my outgoings exceeeded my income.

 

I did this and sent them an estimated revised figure, they then wrote to me saying that as I had reduced my outgoings I would be able to afford the full payment!

 

Kensington at first failed to respond but whan I made a complaint and told them I would be cancelling my Direct Debit they sent me an Income and Expenditure form which I completed and returned, offering a reduced payment of £190 per month which I believe I could comfortably afford.

 

The normal monthly payment is £358 per month, they have now contacted me and say they will not accept £190 because they beleive I can pay more.

 

I am up to date with my BM mortgage and have never been in arrears in the 16 years I have had the mortgage, I only owe them £11,000.

 

As a result of Kensington's obstinancy I am now in arrears with them by £462 and another payment is due on 30/07/10.

 

I should like some advice as I thought that mortgage companies were supposed to be sympathetic to people in my position and do all they can to help them keep their homes.

 

I may only need the arrangement for a few months as I have an appeal against my dismissal on 31/08/10 and am hopeful of receiving some monetary compensation from my employers,I have told them this to no avail.

 

Any advice would be much appreciated.

 

Carla.

[ukaviator]

Do you have Mortgage Protection Insurance Carla?

[carlastc]

Unfortunately not, couldn't afford the premium and have had bad experiences trying to claim on payment protection products in the past.

[carlastc]

My partner and myself took out a second mortgage with GE Money through Loans.co.uk in 2005.

After 2 years they contacted us and told us that they had found us a "better deal" through Kensington Mortgages and offered to transfer the loan to them, which we accepted.

 

I have contacted a company called challengeyour.com as I believe this mortgage may have been mis-sold, I was not working at the time the mortgage was taken out, it was a sub prime mortgage and there are other factors which lead me to believe that we were mis-sold the mortgage.

 

What I want to know is, what happens if they decide the mortgage was mis-sold?

 

Will we receive compensation and then carry on paying as normal for the full term of the mortgage or can they withdraw the funding?

 

This may sound dumb but I am unsure about what will happen.

 

Carla.

[hadtic]

If your mortgage has been mis sold you will get compensation and continue to make your normal mortgage payments

[carlastc]

I have seen threads relating to Kensington on here but their circumstances were slightly different to mine.

 

My partner and I took out a second mortgage with Kensington in 2007 and have been making payments regularly without problem until this year when I lost my job.

 

I contacted them immediately when I knew I was going to have problems meeting the payments to ask about the Homeowners Mortgage Scheme but they did not get back to me straight away.

I had to cancel the Direct Debit with my bank and informed Kensington of this.

 

I eventually received a letter from them telling me that my account was in arrears so I contacted them again to explain and offered them payments of £150 per month.

The normal payments are £358.56 but I explained that £150 was all I could manage and wanted a temporary arrangement to pay this amount.

I did send a payment of £642 off the arrears in July but paid £150 in August and September.

 

They have sent me a statement of arrears going back to when the mortgage was first taken out, they are charging £50 per month arrears fee plus they have levies a charge for unpaid direct debit even though I told them in advance I would be doing this.

 

The total arrears are over £800 including fees.

 

I wrote querying this and they have offered to refund the Direct Debit fee and approx £58.

 

I do not think that this is fair as I am making a payment each month and the fees are just adding to the arrears.

Am I correct in thinking that the monthly fee should be reduced or waivered if some sort of payments are made?

 

What should I do about this is it worth going to Ombudsman?

[carlastc]

I have posted before about my arrears charges with Kensington and hope that this is in the right place.

 

My partner and I have second charge mortgage with Kensington and I have been in dispute with them over late payment fees for sometime.

 

I sent them a copy of your template for reclaiming fees for arrears, returned Direct Debits etc. the total of which is £695.00.

 

They have sent a letter offering us £308 plus interest.

 

What I want to know is, should we accept this? My partner thinks we should but I want to take it further.

 

What should my next step be?

[MARTIN3030]

Up to you,but it is usual for an offer to be made before they pay up in full.

I would suggest writing to them refusing this,and saying that if they do not refund the whole amount which you are entitled to,then you will escalate action,which could include the FOS,and/or a small claims action.

[MARTIN3030]

If they try crediting this to your account,or send it to you,then you simply say that you are happy to accept this as part payment,but do not view this as full and final settlement,and will pursue recovery of the rest with interest.

[dx100uk]

4 threads merged for history of advice purposes

please keep to one thread per debt please

 

dx

[dx100uk]

can you post up how you calculated what they owe you

did you do a spradsheet we could check

might be more to get back than you think

 

 

scan the required letters/agreements/sheets

as a picture file

remove all pers info inc barcodes etc using paint

but leave all figures and dates.

goto one of the many free online pdf converter websites

convert the image to pdf format.

or ir you have PDF as an installed printer drive use that

open a new msg box here

hit go advanced below the msg box

hit manage attachments below that box

hit the add files button on the top right

hit select files, navigate to your file on your pc

hit upload files

NB:you can set where it goes in the post by hitting insert inline.

the hit reply button

dx

[carlastc]

We wrote to Kensington to "test the water" so to speak and told them that we did not consider their offer to be a fair one and that we were prepared to accept a refund of £500 fees.

They have written back saying that they will not enter into further correspondence with us regarding fees and that we are free to go to the FOS if we wish.

I know that CAG are not a fan of the FOS and would like to know if there is another organisation we could go to, I contacted the FSA but they don't deal with second charge mortgages.