Down & Out Vs Kensington

[stormcreator]

Just a thought,,,,but im involved in the mortgage business and it may be an idea to look through your original mortgage application..within the process is something called a fact find that the broker should have gone through with you,this in effect establishes your needs both immediatte and future,they could not have established the correct mortgage for you based on your circumstanceswithout having done this with you.

I,m assuming that you have had some credit problems in the past otherwise there is no real reason for using kensington as a lender(i personally have never been involved in placing a mortgage with this lender as they are known within the industry for having a not too good reputation...however it may be worth noting that they do pay excellent commision rates....this can lead to less scrupulous brokers placing business with them) if you require some inside advice as to what steps you can take then please contact me with email address and i will try to help you.

It may well be that you can prove that you were miss-advised,If this is the case you can claim compensation.

 

Hope this helps..

[down&out]

Latest news is that i have sold my house before they can reposess it.Got a good price but still have to pay ERC of 6100 pounds!!!

Tried talking to them to see if we could negotiate the ERC but they wouldn't budge.Explained that i am only selling because they have priced me out if my house by the enormous interest rate rises every over month.

Am getting a file together and going to see my M.P with this as i feel they can't treat people like this and something needs to be done.

[zootscoot]

Hi Downandout,

 

Its outrageous that these companies can force people out of their homes simply to line the shareholders pockets. They lack morals and any standards of decency. Do go to your MP and FSO. Make as much noise as you can and hopefully something can be done to end this immoral greedy practice.

 

So sorry that you have become one of their victims. Keep fighting.

 

Best wishes

 

Zoot

[Guest DEATHLORD]

Hi Zootscoot,

I have a mortgage with these people and will be paying £14,000 back in ERCs THERE MUST BE SOME THING that can be done as this is a pently charge they know it and will know it but the judges for some reason go a long with them why?.

[down&out]

Hi everyone,

An update on the situation.

I have sold my house and made no money on it at all!!

Kensington took their ERC which was over 6000 pounds!! Ive seen threads on here where people with a repossesion order on their property are questioning the validity of the ERC.

If any one has any more news on this drop me a line so i can take this further.

Cheers

 

own & out

[Bona]

When they granted a possession order to kensington did they also apply for a money order ie the amount you had outstanding as a whole

[Bona]

a new possibility to look at if your agreement says that in default of a payment the whole amount of the mortgage becomes due or if they go for a money claim for all oustanding amounts owed at the time and this does not include erc then you ar paying back money under the court order not to pay of your mortgager early and if the whole amount becomes due on default you ar not paying it early

[down&out]

Hi Bona,

Will look back through my agreement and let you know what it says.

Cheers

Down & Out