ACENDEN / CAPSTONE MORTGAGE action group

Well it’s quite clear that from the rather paltry fine and insignificant compensation order (which will never be honoured) that the green light for larceny, fraud and corruption has been kept on green yet again. Pardon the pun about Swift but really..?

I mean what other possible explanation can there be when crime on this scale is punished so lightly as if it were not punished at all?  Let’s have a look at this in a bit more detail…

Service Charges

1. £23 for calling (WTF?!) or ‘writing’ ( i.e automated inaccurate junk mail) because you are in arrears.
2. £12 for calling or writing when you are NOT in arrears – OUTRAGEOUS.
3. £23 for calling or writing to third parties, i.e. first charge lenders, insurers, land registry etc
4. “Follow up” (i.e. -totally unnecessary) letters or phone calls £12
5. “Processing” (i.e. losing or not responding to) letters and phone calls sent by the others described in (4) above. Cost £12.

That’s a canny little bit of racketeering already, eh?

Default Charges

 Falling into arrears for the very first time. A staggering £250.

£110 for any further arrears, presumably exacerbated by the first charge of £250. Swift should have had their licence revoked for this. It flies in the face of all principles of good governance and fair treatment. The FSA is clearly a pussycat to the industry.

 Collection Charges

“Active” management of an account in arrears: £70 – active means what exactly in the context of  that which isn’t charged for under various other charges listed above?

£35 per month to “monitor” the account whilst a payment arrangement is in place. Er…why?

Redemption:

The Swift ultimatum requires you pay £65 to know how much it is you have to pay them off with to get shot of the blood sucking parasites.

It might as well be ten grand because no-one who signed up with these filthy predators is going to get out alive. But wait for the best bit..£250 to release the title? Mmm, I wonder how much LR charge them for this service. I have a lot of sympathy for genuine beggars but none at all for these corporate spongers.

“Other Charges”

£33 per missed or unauthorised late payment. £95 where your property “has” to be revalued. Who decides this? The infinitely evil ways of SWIFT should leave you in no doubt.

Copy documents £45. Haven’t they heard of the Data protection Act? Still Capstone tried the old £35 per statement once didn’t they? Are Acenden descending into the same charges hell hole, or did they quietly drop that one. Answers on a postcard here please. Are the filth still trying to charge £35 per statement?

And finally (but by no means the swift full house)

 “Having” to issue a paying in book – £35.  Home visits – £95 – what for?  Changing your buildings insurance £35. Apparently they have to write to the new insurers but I thought this was already covered by the £23 fee for writing to third parties. Mmmm, some discrepancy there I’m afraid.

OK so that’s it. It barely scratches the surface of what these parasites get up to and quite frankly GMAC-RFC are probably spitting feathers that they got nearly 5x the fine and 3x the compensation order that the disgusting Swift have got.

The truth is this though.

GMAC-RFC got off very lightly indeed and Swift have got away almost entirely with their appalling, unfair and wholly excessive charging regimes.

At this rate Capstone Acenden will get fined £100 and ordered to pay £10 compensation, if of course at all.

If a couple of bloggers can dig this up and go through it – virtually everyone of the charges being a wholesale breach of every regulation citeable – just how incompetent or complicit are the FSA in all of this?

Swift’s charges are absolutely designed to make the consumer fail.

The charges are fit for purpose- the purpose of a manufactured repossession of family homes that is neither warranted nor justified. Shame on the FSA, the OFT, The FOS the CJC and anyone in parliament remotely connected with the stinking sub prime garbage peddling parasites. If moral outrage at this abuse doesn’t hold you to account, lets hope the filthy rich investors – who have also been screwed – do.

If they know what’s in their interests they will and in future they will probably want to be well shot of the skanky spiv merchants and liars who sold them this garbage on false promises. And it was only ever garbage for one reason – which is, of course, the devious ways of the filthy parasitical intermediaries who got too damn greedy for their own good, lying to the top and lying to the bottom of this financial food chain.