interest charged on mortgage arrears??? is it legal??? on top of mortgage interest already???

[jlloyd]

I am sure this is addressed somewhere on here but I cant seem to find it...

 

can anyone help me???

 

Long story short..

 

. we have had eviction set aside by going to court and getting a judgement of current monthly payment plus £80.

 

we paid that the first month and

then got a letter from HL interactive the solicitors for Santander...

.. that we have underpaid..

. seems to be that the solicitors, HL interactive, are charging us interest on our arrears also...

 

. When we enquired at Santander they knew nothing about it...

. is this legal can we do anything about it???

 

it was never done before and it just seems all they want is our home now

because its not in negative equity and they can make some money on us.....

HELP!!!!!!

[jlloyd]

no i think its different because then they can just add interest upon interest whenever they want to????

[Ell-enn]

How come Santander don't know anything about it? I would write a complaint to them stating you are complying with the court order and are now being harrassed by HL. If you need help with the letter please let me know.

[jlloyd]

I was wondering the same thing Ell-enn, it just seems they are out for us no matter what... I would like some help on composing a letter... when we talked to Santander they told us one figure... then they called HL while we were there and HL told them something completely different. We went by the amount sent to us by Santander on the yearly mortgage statement clearing showing 2012 monthly payment. That is the figure we used in the past as the Contractual monthly payment, the one we used on the budget form and we were never advised otherwise... just so frustrating.... we have also never received anything from them yet stating that they acknowledge the courts judgement. And I guess my question is does this all fall under the unfair charges that they charge for accounts in arrears??? I read something from Bankfodder but i couldn't quite wrap my head around it!!! It just doesn't seem fair that the monthly payment changes every month... will the stress ever end???

[jlloyd]

Ell-enn,

I was thinking I would have heard back from you by now.... would you help me compose a complaint letter to Santander???? I can try but I dont know if I will use the right wording! Thanks

[Ell-enn]

Hi there, letter affixed. Send by recorded delivery and keep a copy for yourself. Also send a copy to HL with a covering letter i.e

 

Re: Santander Mortgage Account No: xxxxxx

 

Dear Sirs,

 

Please find affixed copy letter sent to Santander in respect of the above account.

 

Yours faithfully,

 

 

XXXX

Jiloyd letter July 12.doc

[jlloyd]

Thank you so much Ell-enn for ALL of your help! Should I include a copy of the mortgage statement from them stating our monthly payment??? And the one used when we sat in front of the judge???

[Ell-enn]

Yes, include anything you think is relevant - dont's forget to refer to what you are attaching in the letter and also put "Enc." under your signature to indicate there are enclosures with the letter.

[shellby8681]

Please help!!! We are also being stung by interest being added onto our arrears. Our arrears balance never seems to reduce because Kensington are adding simple/compound interest onto the arrears balance. These words "compound and simple interest" are alien to me as I simply have never been educated in finance! The mortgage company take great pleasure and advantage of my lack of knowledge and when I try to challenge them they fob me off with their jargon! If only schools taught such skills instead of useless maths lessons!! Anyway, is there any advice you can give me regarding this subject as I feel suicidal with the possibility of losing my home because of these arrears!!

[Fielder]

It seems to be something all mortgage companies do. It has happened to me to.

I have the charges and the arrears added to the mortgage and interest charged at the mortgage rate, so my mortgage has increased by 10%.

 

I have looked in the terms and conditions but cannot seem to find where it says they can do it.

 

I have no idea if it is lawful and would love to challenge it. The advice I have read on here is that it is.

Sorry, I cannot give useful advice on this.