kensington mortgages - secured loan - problems, problems problems

[knowledgesercher]

What a shock !!!

 

KM wrote to me today saying sorry that they had overcharged me by 1600.00+

in interest and charges and were enclosing a cheque for 10% of the error as a gesture to say sorry.

 

They adjusted my account but it still leaves 1200+ which is almost entirely made up of 50.00 late payment fees and councillor visit charges that never happened.

 

they asked me to call to set up a payment plan to clear remaining balance or if I had any questions.

 

I was wondering if anyone knew if they were under investigation as this is quite a surprise

 

coming from this bunch who have been difficult to say the least during my time with them.

 

Any feedback is appreciated

 

Thanks !!

[knowledgesercher]

KM are still insisting I pay a balance of 1200 which they confirmed on the phone includes 14 x 50.00 late fees plus interest.

I asked them to review as these charges have already been deemed unlawful. They were willing to deduct 50.00 as a gesture of goodwill.

??

As they already have reduced 2800 from the balance do you think I should stick on this or go for more reductions of these horrid fees?

 

Thanks in advance

[knowledgesercher]

Kensington just replied to my complaint letter where I had asked for the 50.00 monthly fees to be reduced. ( the balance was 3500.00 but they admitted they had used incorrect figures on the statement for a 18 month period so wiped out interest and fees down to a balance of 1200.00) I called them and they confirmed that of the 1200.00 remaining that this included 14 x 50.00 fees plus interest which I then complained about asking for this to looked at too.

They replied stating that as my loan was a secondary charge on my property and not a mortgage, it was under the consumer credit act and therefore these charges were fair and they had only been fined for mortgage fees in the past.

I advised them that 50.00 was still too much for a computer generated letter but they advised that under cca this was ok.

They offered to wipe out 200.00 of the fees if I would sign a compensation form?? and enter into a repayment plan.

 

I advised that I am not signing the form and would take advice.

 

Please can anyone help on this? Are they correct about these fees as they keep stating?

 

Thanks

[OLIVE.FAMILY]

Commenting to bump the last question as I also have a secured loan with them and about to send a letter asking for charges back.

 

Olives x

[determindator]

This may be useful http://www.consumeractiongroup.co.uk/forum/forumdisplay.php?407-Mortgages-and-Secured-Loans

 

I have also posted on your thread Olive http://www.consumeractiongroup.co.uk/forum/showthread.php?398831-Kensington-Mortgages-Assisted-Sale&p=4540340#post4540340

[determindator]

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