Guidance sought

[mystery57]

In 2007 on her divorce my friend, had to remortgage her property to pay off her ex husbands debts etc.

 

She took out a first mortgage with a company for £96,000, and a second mortgage with Swift for £10,000 which included paying off a leasing debt.

 

The loans were arranged by a broker who I know received £1000 from Swift as commission.

 

Of concern though is here we are 7 years later, and the house is still only valued at £100,000 - so how the loan ever got approved I do not know particularly as repayments of the two loans were about 60% of her salary.

 

Thats the background.

 

She phoned Swift to get a redemption figure having paid for 78 installments of £137.06 so far, and was quoted a figure of £10,557.16 to clear the debt !!!

 

She was also told her payments were in credit by over £300 - how we do not know.

 

Yet looking back through old paperwork I see she requested similar in 2011, and that letter had charges applied of £33 for a RD cheque, Other Fees (not listed) £127.00.

 

In addition a further fee of £43.05 on late installments.

 

How she has overpaid since then we cannot see at all looking at her statements.

 

ANYWAY - is the above acceptable behaviour or should she be looking at some complaints process.

 

Thanks in anticipation