Customer Care at Capstone
This is a dedicated space to log every dirty trick Capstone get up to. Post it up and we’ll put it on the front page. Any complaint at all you have. This is motivated by the fact of one of their reps stating at a recent hearing that repossession will happen one day – a clear sign that this is all they are interested in.
From the pioneer…LD27
The bastards won’t co-operate! Several weeks now the council have been waiting for paperwork to carry on with MRS & they still haven’t sent it…Just goes to show,that all they want is the property!!!
106 Comments for “Customer Care at Capstone”
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Richard
Thankyou for your interest I am sure someone will be in touch with you shortly, you obviously have some idea of the nature of the site,its manifesto and the research which can be fully supported by evidence that has gone into its creation .The site has an email address at:
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borrowerstrust@gmail.com
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There are serious matters involved here concerning the apparent rapid winding down of the bankrupt Lehman’s UK residential mortgage books by their appointed third party administrators Capstone, also a Lehman’s subsidiary,this has led to a great escalation in home repossessions over a prolonged period without ,despite complaint, numerous attempts to involve the Regulatory bodies,most notably the FSA.
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It would be easier to facilitate any enquiries and interest you may have through this address and retain confidentiality.
Worried and concerned borrowers who post their comments here,I’m sure you can appreciate ,are personally in a very vulnerable position.
hi im with accenden and took out a 25k loan with these ****. They have done nothing but abusee, and keep me down, and now they are adding mad fees to my arrears balance. Im in 3900 true arrears and in hardsship but managing to make payment but a few days late. They keep charging me man! im not afraid anymore, and have logged many complaints and call them daily for ‘advice’. i lost my job a while back, and am finding it all hard, but i am determind not to lose the house over £900 true arrears. I have a complaint with the fos, and have spoken to my adjudicator, who knows of this company, so i will keep making payments, and keep digging at
them, and looking for ways to find out information on them,. I have asked for an SAR and sent the £10, and i will be getting a copy of the land registry cert to see just whos name is on it. I bet not accenden! in that case i wonder if they have any rights at all? they are a compleat bunch of lying tossers who need to get their just. Anything important i send via post and email via their site. They are ****.
soz thats £900 not 3900! hehe
Hello Richard
Thank you so much for your interest. I echo the statement made by one of our contributors above.
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We have been knocking on a closed door for eighteen months or more on this issue. No-one seems to be interested in actually highlighting this issue or halting the repossession strategy of the Lehmans SPVs. In that context we very much thank you for yours.
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The scale of the deleverage through forced repossession and liquidation of the mortgage book is unparalleled. The listings already posted here are nothing more than a snapshot. They only cover half the English and Welsh County Courts and only cover a two week period. Serious questions have been posed to the relevant authorities. None have been addressed
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May I suggest you look at the following links on this site and elsewhere?. Someone will be in direct contact with you very soon, but given the stakes for those involved, confidentiality and protection of sources is a sine qua non. We value your cooperation and interest very much indeed but will need some assurances on this. Some of our group are prepared to go public, but the person most likely to contact you has grave reservations about doing so.
Anyway here are some links which should be of some value.
The most obvious starting point is here. The Consumer Action Group SPML forum brought us together. There are 340 pages and approximately 5000 posts from ordinary families sharing their repossession stories.
http://www.consumeractiongroup.co.uk/forum/showthread.php?170607
Our site here will also give you an overall picture.
Try this link for summation of the technical aspects and social consequences of this particular type of securitisation which was allowed to run riot by the previous administration. Indeed the FSA has said that this type of securitisation will not be allowed in future.
http://capstoneactiongroup.co.uk/2010/03/07/the-treasury-select-committee/
When the rule book is ripped up and nothing is done this country has wilfully destroyed its own sense of justice and fair play.
It is therefore imperative that someone calls this as it is. Tens of thousands of families unlawfully repossessed on manufactured claims. See NJ’s comment just above yours.
Someone will be in direct contact with you imminently.
I have a mortgage through them, although I didn’t take it out through them, it was sold on when preferred went under in the past 18 months I have had the following issues:
Made redundant and got into arrears. I made an arrangement and the matter was supposed to progress no further however they issued a default against me, the first I knew of this was when I saw it on my credit file. They can provide no explanation for why they didn’t write to me about this and therefore the matter is now with the FSA but has been for 6 months now with no progress.
I think I have 3 months arrears and my regular payment is £521 I have been paying an extra 75 for the last 8 months, so in total have paid approx £600 off the arrears but in reality due to charges my arrears stand at about £4000!!! I cannot understand the statements they send through and if you call them they just talk rubbish and in the end you give up as it cost 30p a minute and it take 30 minutes just to get through to them.
They also add on their own buildings insurance at about £300, this goes on your mortgage balance. They then take this back monthly, they just increased my direct debit by this amount but didn’t write to tell me, I had to claim the money back via the DD guarantee scheme. I had faxed and post my own insurance certificate to them on 2 occasions, they said I had sent the wrong document, I’m certain I didn’t but I asked them why they didn’t contact me and ask for the right one they said they don’t do that! Eventually they refunded the money but charged me a £50 admin fee! You will see from the boards that many many people have the same issue.
I am now selling my house to be free of these people but I have asked for a redemption statement and although they have charged me £35.00 for this I am yet to receive it despite chasing the matter up 2 times now, well 3 if you include my original request. Also I asked to discuss the arrears position as I was hoping to negotiate a reduced settlement, they said they would discuss doing that IF I withdraw my complaint with the FSA, surely blackmail? I have advised the FSA of this but just got a wishy washy reply, I expected them to be outraged that one of their members was acting in this way.
When will they be stopped?
Hi
Don’t know where to start. My son is caught up with Capstone as he has a mortgage on the matrimonial home. He moved out 2½ years ago but he still pays half of the mortgage. He wants to transfer the mortgage and house to his wife as a settlement on their separation. He phones Capstone each month to pay his share and he has discussed with them the above. He has written, the solicitor has written, I have written and they just will not reply to letters. I have now written to FSA complaining – but they seem useless too. How can we make them reply to letters? I have never come across anything like this before?
Stan you have to contact the Mail on this disgrace,you may be out of time legally as limitation is usually 6 years unless you can prove fraud.
See the Mail articles on this site,your story would further expose this bunch and may bring results,please give it a go.
ryde
12 years for mortgage debt- both ways-not the usual six. However Stan’s best option would be to contact the Mail. I’ll post something up.
Stan, what a horrible story. Thanks for sharing it. I’d agree that the Mail on Sunday may be your best bet, at least for publicising this scam. Justice is a much longer shot but the press may be the best way to get there.
Stan
This is outrageous how you and your family have been treated!!
Get onto your local MP,this is slander and defirmation of character.
I suggest if you can get cctv on your property,then do so,this will help for future reference.
What date is the eviction for?
****** STAN AND WE THOUGHT WE WERE HARD DONE BY I’D GO BUST AND TRY AND DISAPPEAR TO A RURAL AREA AND GET AWAY FROM IT ITS HELL ON EARTH.TRITE AND EASY TO SAY THE PRECEDING BUT YOUR SITUATION IS UNIMAGINABLE IN A MODERN WELFARE STATE.
Can I say that this thread is perhaps in need of some modding
Andrew
If I may be permitted. There is nothing rotten in the state of Denmark as you put it. Whilst the utmost sympathy goes out to Stan and his post possession circumstances the comments he made were highly damaging and potentially libellous against any number of targets. They had to removed but I wanted to consult more widely before doing so, in the interests of openness. I take full responsibility for this and perhaps in future users will need to exercise self restraint and moderation in posting. If they do not then everyone will have to wait approval for every comment, regardless of their track record. The policy is based on trust. People making posts and comments have to respect that fact. Once a user is approved their comments require no further approval before appearing on site. At great inconvenience to all involved this policy may need to be reviewed.
Stan. There is obviously a great deal of sympathy for your post possession circumstances but you must communicate your story with restraint. In short no racial references, no accusations against the police, no accusations against your local authority and or housing associations and trusts will be permitted. Secondly it is difficult to know how best to advise you. This site is specifically for those experiencing current difficulties with Capstone/ Acenden. Unfortunately once possession has taken place, especially so long ago ( I don’t even think Capstone existed then) there is only a limited amount if anything that can be done.
Further comments will be welcome from you but you must observe restraint in what you say.
Can I take the opportunity to wish everyone associated with the Action Group a very Merry Christmas and a Happy New Year (we can but hope!).
I would like to ask everyone to spare a thought for those thousands of people who, thanks to Capstone/Acenden Mortgage Services, will not be enjoying this Christmas in the family home – there but for the Grace of God……..
Thank you for that Dingle. A merry Christmas and a happy new year to you also and of course that is extended to all here and those on other consumer forums brought together by the hideous Capstone Mortgage ‘Services’ (sic). There but for the grace of God indeed…I shudder to think how my kids would cope. Probably scarred for life I shouldn’t wonder.
Merry Christmas to all the supporters to the site and especially to the admin team for their dedicated time and effort..onwards and upwardd for us all x x
Hello all.
I am currently engaged in claiming 3250 in arrears CHARGES for Ascenden/Capstone. I sent letters to directors/MD and to the head office (following advise on this site) they have responed prompty, however I have to wai four weeks for a decision. I’ll let you know how this pans out. G
LET ME NO TOO PLEASE GEOFF,AM IN THE SAME BOAT AS U MATE,CHEERS!
Hi everyone we to have major problems with Acenden I am been evicted by them a single parent with three children all of school age. I am trying to do the MRS but like others they dont respond to the councils emails to proceed with this and also opposed this route to the judge in court. I have contacted the FSA who assure me they cannot do this and referred to the MCOB rules what can one do it looks like me and the three kids will be put in council B & B unless someone does something about these ruthless characters. Can anyone suggest any help?
OK what about this:
s136LOP1925 the pickled walnut:
136. Legal assignments of things in action.- (1) Any absolute assignment by writing under the hand of the assignor (not purporting to be by way of charge only) of any debt or other legal thing in action, of which express notice in writing has been given to the debtor, trustee or other person from whom the assignor would have been entitled to claim such debt or thing in action, is effectual in law (subject to equities having priority over the right of the assignee) to pass and transfer from the date of such notice-
(a) the legal right to such debt or thing in action;
(b) all legal and other remedies for the same; and
(c) the power to give a good discharge for the same without the concurrence of the assignor:
Provided that, if the debtor, trustee or other person liable in respect of such debt or thing in action has notice-
(a) that the assignment is disputed by the assignor or any person claiming under him; or
(b) of any other opposing or conflicting claims to such debt or thing in action;
he may, if he thinks fit, either call upon the persons making claim thereto to interplead concerning the same, or pay the debt or other thing in action into court under the provisions of the Trustee Act, 1925.
I am hereby giving everyone with a mortgage loan with SPML/SPPL/LMC/PML express notice that their loan icluding the Charge registered at HM land registry has been sold/assigned /transferred to one of the following companies:
MORTGAGE FUNDING 2008-1 PLC
EUROSAIL-UK 2007-1NC PLC
EUROSAIL-UK 2007-4BL PLC
EUROSAIL-UK 2007-3BL PLC
EUROSAIL 2006-3NC PLC
EUROSAIL 2006-1 PLC
SOUTHERN PACIFIC SECURITIES 06-1 PLC
SOUTHERN PACIFIC SECURITIES 05-2 PLC
SOUTHERN PACIFIC SECURITIES 05-1 PLC
SOUTHERN PACIFIC SECURITIES 05-3 PLC
SOUTHERN PACIFIC SECURITIES 04-1 PLC
SOUTHERN PACIFIC SECURITIES 04-2 PLC
So these are the companies that should be taking any legal action against you as you have now received notice.
BREAKING NEWS!!!!!!!!!!!!!DIRECT FROM THE ACENDEN SITE.
AN OPPORTUNITY TOO GOOD TO MISS CAN YOU BELIEVE THE GENEROSITY OF THESE PEOPLE ,HOW CAN THEY DO IT IN THESE AUSTERE TIMES ??
see here:https://www.acenden.com/customer/registration.
wonder if the winner will ever be named ?
Prize Draw
For the chance to win a Sony 46″ LED backlit 3D television, bringing the magic of 3D into your home, make sure you register your mortgage account for Self Service on the new Acenden website by the 30th April 2011.
Click here for full terms and conditions
1. personal details
2. address
3. security details
4. terms and conditions
5. confirmation
Items marked with * are required.
title *
first name *
surname *
middle initial(s)
date of birth (DD/MM/YYYY) *
home telephone
mobile
mortgage account no. *
AND THE WINNER IS HECTOR SANTS ? (who would have thought he was an acenden customer?)
I suppose we oughta laugh! Check out T&C for the “free prize draw” at section 9b “in exceptional circumstances, to vary, amend or withdraw this promotion on reasonable notice” – So whadya know – Acenden reserve the right not to keep to the deal – So in true Acenden style it doesn’t matter what the deal is, Acenden will change the goal posts and DO WHAT THE HELL THEY PLEASE anyway. Gotta say they’re certainly consistent in making the rules up as they go along.
Oh the irony of having Acenden give you a TV to put in the very home that they’re intent upon nicking off you anyway!
Its a foregoing conclusion that the winner if theres a winner will probably have an eviction notice served the day after notification of winning the tv and it will be retained pending payment of their charges.
They could of course use the legal/equitable ruse you can have the tv on condition your account is bought fully up to date but acenden retain the right to legal ownership until this is so.
Wonder if its new or one of amany’s or frazier’s cast offs.Still they’ve only got to target one account to pay for it and a word of warning it could be the sole one that registers!!
Can anyone access the mail article comments section?
If not seems a sensitive spot may have been touched,think the last comments I saw were amany as director of spml and pml and tax avoidance by the spvs failing to register legal title?
HI , i am curently under a suspended repo of my home. I have been away from work for just over a year now due to illness and hoping to return in the next few months.
When i started with the illness i had arrears of about £3000 which i was paying at £50 ontop of monthly payment , eberything seemed fine until my company sick pay & SSP ran out , i was then left with £65.00 / week coming in , i contacted my local Council about Mortgage rescue which they put in my application straight away.
This has now gone pearshaped so i am back to square one .
I was contacted last week by Ascenden who told me my arrears was now £7200 which i knew it would have gone up but not much.
2 years ago i arranged to have the length of the mortgage changed as i was in arrears and though that this new arrangement would take care of the arrears as i was led to bgelieve it would.
Then i received a default notice saying that i was still in arrears of about £2000 and needed to pay these off.
I was in no position to do this and this is when they asked for rediculous ammounts of money to pay the arrears off at the same time as the mortgage.
I am now looking at asking for the charges back that they have no doubt added to the account and i will be compiling a list of theese later today & tomorrow.
I am also expecting Ascenden to seek eviction again as they know the MRS has failed.
When they contacted me last week i explained again my situation and that i have applied for Mortgage Interest Support and that i will be able to make a £1500 one off payment in the next few weeks.
Ascenden are ************ ..
I originally asked them to consider adding the arrears to the account or allow a payment holiday or put me on an interest only mortgage as the arrears were worrying me greatly but they just said that unless i paid the arrears off they could do nothing apart from extending the length of the mortgage.
I agreed to this as i said earlier as i thought it would take care of the srrears ,HOW WRONG WAS I !!!
Can anyone tell me
1. If there is a chance of having the charges taken off the account ?
2. Is it acceptable for them to extend the terms of the mortgage and not sort the arrears out at this point ?
3. If the original arrears are required to have a seperate payment arrangement are they part of the new mortgage terms ?
Any other advice will be appreciated ….
I managed to get the repossession suspended again as the Capstone solicitors didn’t turn up and made it easier.
I have lodged a complaint with the FOS and have told them also that when i tried to make the £1500 lump sum payment the person on the phone decided that i needed to tell them where i got the money from as this is a security question , she refused to accept the payment until i told her where it was from.
The FOS said are they trying to accuse you of money laundering and felt it was tottaly unacceptable for them to ask this.
I have just received a letter from Acenden saying that they cannot uphold the complaint and i will need to go back to FOS if i am not happy with the response.
Of to FOS i go , these people are the lowest of the low and i advise anyone to avoid them..
I’ve had a mortgage with SPML/Capstone/Acenden (whatever their latest name is!!) since 2006. I had some difficulty a while back when I lost my job and ran up quite a bit of arrears!
Anyway… I arranged a payment plan with them where I would pay an extra £100 every month on top of my usual monthly fee towards the arrears and I stuck to the plan (with fees and interest etc, it was projected that it would take around 12-14 months to pay it off).
Now, my payday is the 25th of every month, their due date is the 1st of every month. Around 3 months ago, I was told by one of their representatives that the plan had come to an end an I was clear of arrears. He provided me with login details to their online system where I could login and pay my usual monthly payment on a monthly basis. He told me if I made payment on the 25th (my payday) it would be in ADVANCE of the following months payment which is due on the 1st.
Hooray… or so it would appear until I received a letter a few weeks later telling me that they were disappointed that I’d fallen back into arrears again!
I assumed it was an error (possibly something auto generated from when I was in arrears) and called them. After querying this, they said I was NOT in arrears but had been and I left it at that. Since then, I have received the same letter every month.
I checked my credit file today and they have me down as having missed last months payment… even though I paid the amount they asked me to, on the date they asked me to, using the method they asked me to!!
I had it out with one of their representatives today to try and get to the bottom of it. It would appear that the payment I make on the 25th of every month, is not in advance of the 1st of next month (as they told me it was), but instead it’s 24 days late from the 1st of that month. They have added £85 every time they’ve done this.
I’ve threatened to report them to trading standards. As looking back through my account it looks like they have done this every month whilst I was on the payment arrangement. Instead of putting £100 towards the arrears, they’ve been charging me a late payment fee plus arrears management fee because I was paying 24 days late… instead of early like they told me I was. I’ve been told that if I pay £147 today it will wipe out this months arrears ( which is due today) and that the payment I make on my next payday (25th June) will go towards July’s bill. However, if I don’t pay the £147 today, a fee of £85 will be added…. and I don’t have the £147 at the minute!
I asked the fella on the phone to review it and look through the records to uncover what his colleague had said. It would appear that it was either omitted in the record, or he didn’t want to come clean with me.
I also asked why I had been given such conflicting information and been kept in debt by them, I advised that I would pursue complaining against them and I asked if their telephone calls were recorded, he advised they were recorded for training purposes only. I advised that they should review them because their training was not good enough… and he promptly cut me off.
Apologies at how long winded that was but I’m SO FRUSTRATED…..
This is SO typical of Capstone Acenden and rips up the rule book in the process. They have NO CLUE how to implement TCF properly (or at all) and should simply delete their policy statement on this from their website. The filth are well used to being Janus faced and I’d like to say it takes the biscuit. But I won’t because it doesn’t. They take the lead from their masters. Margaret Cole, Hector Sants, Lesley Titcombe, Jon Pain…it’s getting boring now or would be if it weren’t so vital to a hundred thousand consumers ripped off and decimated by this appalling bunch of two faced liars right under the noses of the watchdogs set up to prevent this abuse.
Wayne, they may or may not ‘record’ their telephone calls. However, they do record the detail of every, or so they say, conversation, action or manual intervention on every account. Submit a Subject Data Access Request by letter with £10.00 asking for a copy of the account activity report since the start of the account to date and anything else you think may be relevant. They legally have to comply with this request according to the Data Protection Act.
This is a very crafty ploy to keep you ‘in debt’.
Get this info and file a complaint to the FSA.
Hi all, first of all I would like to thank all you people at the action group for a elightening website, which has given us a greater insight to this inhuman mortgage lending company.
My case i will state as it happened, In June 2005, we approched a Broker to get a loan against our property, we were recomend a company called “Preferred”, we asked the Broker to make sure that our payments could be set on the 7th day of each month when our pension could meet the repayments, this he failed to do and when we noticed that we were getting charges for arrears, we contacted the Company and asked them to change the date to rectify this they refused, on the grounds that our contract said it must be met on the 31st of the month, the mortage was in my wife,s name, and asked them also to change it to my name, as she was ill with diabeates & lukemia problems, and could not take any insurance out for protection, as it was a intress only policy and we wanted security if at the end of 5year term we could not pay the debt in full, they again would not do this, they have never accepted me as her husband after we have sent them our original marriage certificate, which they lost, they then transfered us to Capstone then to Acendent, so over the years we have been trying to battling our arrears, plus like many others fictous charges, for admin letters, solictors fees,etc. also we explained that the Broker we hired, we later found out that two years later he was struck off by FSA, as we tried to contact him about the payment day date, that he failed to ensure to clear this up with them, but he would say yes & do nothing, then he disapeared.
we are now facing repossesion, my wife health has got worse over all the lack of understanding, what we require from them was just a chance for a fair deal to try and find some middle ground, but alas when you dealing with firms like this, dont expect compassion.
But thanks to your site we have not given up the fight to save our house, and we are using your advice, contacting the FSA the ombudsman, local MPs, and any other organisation which we find on this site which can help us in this situation, caused by this company which is built on GREED, thanks a lot to you all God Bless
Hi John,see this thread here:http://www.consumeractiongroup.co.uk/forum/showthread.php?297005-Acenden-capstone-spml-pml-lmc-sppl/page8
re changing payment dates the spml contract should echo the preferred contract.
If you applied for a change on this basis and they refused without good reason you would have to claim from the FOS for all the arrears charges they levied since your request.Let us know more when you’ve looked at the thread.
I have just come across this website. My home was repossessed back in 2007 by Capstone Mortgages because of arrears. I was in the final stages of selling the property which would have paid off the arrears. I had been to court several times in the process where the judge always allowed more time before eviction, seeing that I was selling. The Capstone representative assured me at the last court hearing that as long as I was in final stages of selling they would not repossess on the eviction day. That was a big fat lie and subsequently they denied saying this. I now know to get things in writing. Imagine my utter horror and dismay when in the last minute court appeal, Capstone insisted that the repossession went ahead – 5 days before exchange of contracts. Afterwards no one was willing to help. I tried legal advice and the Ombudsman who all told me that the court decision was final. I was totally not expecting to leave my home that day and had nothing packed. It was probably the worst period of my life, and my daughter’s. I felt no one understood the trauma of losing my home so cruelly after 18 years living there. Even after 4 years the pain is real and I would do anything I could to obtain some sort of compensation from Capstone Mortgages for the utter chaos and destruction they caused in my life.
Hi Joyful
Reading your blog echoed exactly everything that happened to us. We were repossessed last July, also had a buyer, there was no chain and she was able to move in straight away as she was renting. Crapstone knew this but after several suspended court orders we were evicted, even though we were about 2 weeks from signing the contracts. We received the letter of eviction on the Tuesday, went to court hearing on the Thursday, to be told eviction would be following Monday. We tried to get temporary accommodation with our local council. They didn’t want to know, as we did’nt have any children under 16 and also not being disabled . Shelter basically said the same.
I sympathise. It’s helpful to know that somebody out there understands what it feels like as people generally don’t. I hope you are vindicated one day.
Joyful.
What was the price they sold it for was it substantially less than the price you had obtained?
Peter, they sold it for about £10,000 more than my selling price, 8 months later. I don’t believe it was sold at auction. I still received nothing from the sale. Instead, I ended up still owing, whereas the sale would have cleared everything.
This continued tale of abuses seems bottomless,its so important that you people keep posting here as this catalogue of abuse is recorded.All we can do is keep pressurising and try and come up with some solution which many have been seeking now for more than 2 years.Unfortunately in many cases its after the event as people are not aware of the help available in a live case and what can be done legally.
Currently the only compensation is available through the FOS or by bringing a court claim.The fos takes up to 2 years and won’t consider the amount of the charge only whether its been fairly levied and the court is high risk unless you have professional representation.
We will have to think where we can go here.
Joyful,we had one of their ex sales team on the site will try and retrieve his comments.
They would have charged you 8 months interest plus numerous fees for marketing,sale,changing locks etc without having a full dossier of documentary evidence as its 2007 its difficult to know where to go.The only one who would consider your case is the fos i think but you say you have been turned down.
You could tell your story to richard dyson at the Mail I’ll post his email.
Thanks for your help, Peter. Yes, it seemed I had explored every avenue and was always told there was nothing I could do.
Joyful and all visitors here please contact your MP then post the name of the MP you have contacted and we will write a letter to them all copied to each one of them.
ASKING WHY NOTHING HAS BEEN DONE AND WHEN IS SOMETHING GOING TO BE DONE INSTEAD OF THEM RECEIVING USUAL BRUSH OFF FROM THE FSA.
Use the site email to give us details at borrowerstrust@gmail.com
Yes, ask your MP to write to the Chancellor of the Exchequer – who is ultimately responsible for the FSA and FOS – to find out why neither has enforced the existing regulations against Acenden. The more people who do this the more likely there is to be some action. You could also ask him or her to write to the Justice Minister requesting an explanation for the failure of his department to enforce the MCOB rules.
Just to let you know that I received a reply from my MP saying she has forwarded my letter to the Chancellor of the Exchequer – and will forward the response when received.
Acenden have for the last year strung me along with the possibility of capitalisation. They asked me to provide them with my income and expenditure to see whether I qualified for the capitalisation. The offer they made me was more then I could afford. They reduced the figure and told me that I would need to make 3 months payments before they could make the arrangement permanent. After 3 months they said they had not said that, that I had been offered a payment reduction and that they were not able to recapitalise the arrears and reduce my interest rate at this time. I was to pay the reduced amount for another 3 months and they would see if they were able to offer it to me then. This went on for nearly a year at which point I was totally fed up, I decided to put in a complaint. 9 weeks later and they finally responded say they made me an offer and i couldnt afford it and that since December 2010 they have stopped offering capitalisation. With the level of arrears, interest and charges they have applied I will never be able to clear the arrears. I cant sell the property as I can not rent privately due to bad credit and I cant approach the council as homeless as I earn too much. All I want is to have a clean slate they are the only thing preventing me from improving credit file. I cant re-mortgage and the charges they are applying have me on the verge of negative equity. What do I do?
Angela
1)have you got any of this in writing?
2)The only way is an fos complaint but you will need evidence of any offer they have made but you could also complain about the charges
3)Write to your mp and tell them what has happened then tell us at the site email borrowerstrust@gmail.com
We are compiling a list of mp’s and will factor them all in on a group complaint as to why the fos and fsa are not taking punitive action,yet lesser offenders are being punished,
We must all make this push,the more the better,its the only chance we have of getting these pariahs bought to book for the good of all.
Hi Angela…
as you are clearly finding out, Acenden are not to be trusted. PERIOD.
Angela,
It will take time to receive but submit a Subject Data Access Request (I know I sound like a broken record guys!) to Acenden so you can see what calls have been recorded and the topic of your discussions at the time. Send it in with a £10.00 cheque. You must receive a response within 40 days.
Angela
To contact your Member of Parliament click the following link with a guide to finding their contact details and a template letter posted by one of our campaigners.
Remember: THEY (YOUR MP, THAT IS) WORK FOR YOU.
OOPS…THE LINK
http://www.acendenactiongroup.co.uk/contacts-for-complaint/your-local-member-of-parliament/
TO SUBMIT AN S.7 DATA SUBJECT ACCESS REQUEST (AS IS YOUR RIGHT UNDER THE DATA PROTECTION ACT 1998) FOLLOW THIS LINK HERE. KEEP US POSTED ANGELA. THE MORE PEOPLE WHO FIGHT BACK AGAINST THE FILTH THE BETTER.
http://www.acendenactiongroup.co.uk/get-your-stolen-money-back/
And Finally to contact the Financial Ombudsman Service click here
http://www.acendenactiongroup.co.uk/contacts-for-complaint/the-financial-ombudsman-service/
Good luck Angela. You’ll need it with these parasites.
Angela.Importantly
Please take note and do not despair.
Under the high/appeal court Ruling cheltenham and gloucester v norgan the arrears can be paid off over the whole remaining term of the mortgage Acenden will not recognise this but it is binding on ANY court.
In your case this would have the same effect as capitilisation but you would have to get a court order to this effect to force them to comply with this.
What are your current repayments plus any repayment towards arrears because the payments towards arrears could be spread over the entire period of the loan.
You could always write to them quote the ruling and say you can only afford to pay the arrears off this way.
Then you have evidence if any future proceedings take place that you have made the offer.
You must send your offer recorded delivery.
——————————————————-
CMS is this not a wise precaution for anyone struggling with repayments.
Pre empt proceedings by making a Norgan Offer? and try and force them into an arrangement then they cannot levy any more charges and a great defence if they litigate against you.
Hi Peter
I agree 100%. Since the filth are congenital liars and since they will use any tactic to force possession then we have to get down into the sewer with them. Use ANY tactic that makes them think twice. Do to them what they do to thousands of consumers every day. Make their life hell on earth. And speaking of hell. To hell with the FSA for allowing this garbage and rot to prosper.
Peter
Here’s the original Court of Appeal Judgment in Norgan
http://www.bailii.org/cgi-bin/markup.cgi?doc=/ew/cases/EWCA/Civ/1995/11.html&query=Norgan&method=boolean
Mentioning the FOS it is apparent that of all the complaints we have heard NO ONE has yet had arrears administration fees refunded or partially refunded due to the charge being deemed an excessive amount for administering an account in arrears (WHICH IS AN FSA RULE MCOB 12 I THINK) and those charges being over twice the industry norm in fact others have been penalised for charging half this amount.
So please make this clear to your MP.
This is the MCOB Rule you are after Peter:
MCOB 12.4.1 R provides:
(1) A firm must ensure that any regulated mortgage contract that it enters into does not impose, and cannot be used to impose, a charge for arrears on a customer except where that charge is a reasonable estimate of the cost of the additional administration required as a result of the customer being in arrears.
Hi Peter,
Have just emailed my MP regarding this broken MCOB Rule by Acenden as well as a whole load of other FSA rules.
I await his comment.
Thanks for that Stephen.it makes one think what was the point of making this Rule if the FSA fails to decide what is a fair amount for administering an account in arrears ;fine others for excessive fees of £45 yet let others ie this fiendish shower escape at charges anything up to £85 plus any supplements they can work in and who then have the affrontery to state they are helping their customers with their problems by their hands on management when they and their fees and the slighest excuse for their levy are the root cause for the borrowers’ problem in the first place,such statements accepted at face value by the FSA despite flying in the face of the available evidence as reported en masse on the internet,the TSC,this site and the Mail online.
Hey guys check out this website “http://www.tcfinfo.co.uk/site/216/Major_mortgage_lenders_throw_weight_behind_website.aspx”,in particular thier supporters and the FSA blog.A clear indication that due to some of thier big name supporters,the FSA are merely a bunch of sheep.Lord turner was or is probably a director of at least one firm listed by tcf,and no doubt stans will be connected in someway.
Letter received from HM Treasury stating “I am aware of the concerns that(I)raised, and in January this year the Government announced a package of measures intended to enhance consumer protection in the mortgage market. The announcement included a measure to ensure consumer protections are maintained when a mortgage book is sold by a mortgage lender to an unregulated firm. The Government intends to publish the statutory instrument later in 2011. This will address a genuine gap in the regulatory architecture, and will ensure consumers will be better protected in the mortgage market. Further information can be found at http://www.hm-treasury.gov.uk/fin_sector_mortgages_index.htm“
but will it apply to existing mortgages out there already or will that cause another PPI like landslide in claims & complaints??
Well, I did think it’s not much use to me now, as my story goes back a few years. I was hoping for some kind of compensation claim against Capstone for repossessing unnecessarily. Oh well.
That’s a good spot Joyful.
..
I did see it in Decmber when it came out and I didn’t think much of it. However having looked at it again there are some clear statements vindicating totally our take on these issues from the misery of repossession through to the fact that these sharks are thirsty for imposing these miseries.
..
I call that a breakthrough and look forward to the making of this statutory instrument. What is less impressive however is the slated date for commencement. APRIL 2014. WHAT ON EARTH ARE THE GOVERNMENT THINKING?
..
THREE MORE YEARS OF THIS APPALLING RANSACKING AND VANDALISM OF PEOPLES HOMES, FAMILIES AND COMMUNITIES AT THE HANDS OF THESE LOOTERS. My God the wheels of justice move slowly when the anti social criminal elements of society causing havoc wear a suit and do their filthy deeds on headed notepaper.
..
THe Prime Minister is far too busy to be concerned about the ramblings of a few bloggers. But if he wanted his BIG SOCIETY to be taken seriously he needs to tackle irresponsible anti- social behaviour at the top and not just where the dispossessed stalk the streets. I don’t like being harassed, bullied intimidated or threatened by a hoodie. But when I have I have NOT NOTICED an awful lot of difference between that and being on the thick end of some of Capstone’s appalling tactics. THREE YEARS? Utterly unacceptable and a clear sign of what we are in for.
There won’t be a mortgage book in 2014 the s…m will make sure of that,theyre already well under way.
Are we not due for another interesting accounts reports through Companies House for the scum?
Indeed we are and rest assured we will be on that as and when this filthy lot have the gumption to publish their parlous state of affairs.
Accounts due in from the “lenders” spml/sppl/pml on 31/08/11
A recent sppl entry states this:looks like some debt write off sppl have suddenly become the wealthiest of the lot poor Eurosail only have 5k
sppl LATEST SOC 20/10/2010 20/10/10
STATEMENT OF CAPITAL;GBP 55000100
eurosail 2007 1nc AR01 07/12/2010 15/11/10 FULL LIST
Capital Statement
LATEST SOC 07/12/2010 07/12/10 STATEMENT OF CAPITAL;GBP 50000
typo that should read eurosail 50k must get these things right
The question of course begs how can sppl have 55 million in capital ,no loans , they only exist as a paper company and with all the desperate Lehmans creditors banging at the Lehman doors?
What is afoot here?
Are they,sppl preparing to disappear?
Hi,
Im in arrears with the company but i am mangaing to pay them bits, i dont live in the property anymore as i am staying with my daughter and evertime i call to make a payment they ask me questions, such as, where did you get the money from to pay this and other personnel questions which i can imagine make any difference.
Thanks
Hi Ann,
if your with Acenden log onto thier web site.Once you have entered your details you can make your payments through the website,no need for costly phone calls or dealing with a puppet.And should they call you all you have to say is you made the payment through thier site,you do not have to discuss any other details other than payment amounts and dates.
The day is due now,not much we can do given our situation but here’s an update on Acenden’s pathetic attempt to follow protocol.
10th sept receive letter dated 8th sept requesting immediate payment £1*** within seven days to avoid action,on same date receive letter from thier solicitors dated 9th sept that they have received instruction to enforce the warrant.Clearly they had no intention of allowing seven days to receive the £1***,and I’m glad we didn’t have the money to pay because I don’t beleive it would have stopped them just swallowed some more of our hard earned cash.Just hope the FOS find in our favour and pay the cash to me so I can set it agianst my £15 a phone call charge & £75 per letter charge (sent a few of them), not to mention my £75 per hour (or part thereof) personal time lost and I haven’t even got to stress.
Try and keep you updated on any other developments,so keep up the fight somethings got to give soon.
Got letter from their solicitors telling us they are going to withdraw the repossession application from the court, ie adjourn with leave to restore. Their client will not attend and we don’t need to go. What a relief!
Only Acenden haven’t done what they told their solictor to tell us they would do. Case still on for a suspended repossession order -or perhaps possession if we’re not there because the solictors told us we didn’t need to go. Don’t ever trust them about anything, even a solictors letter has no worth, check and check again. I rang Acenden and had a go about this – and was told that the Mortgage Code and the OFT guidelines are just that – not legally binding on them. But tricking us into not attending court or filing a defence so they can repossess us seems plain fraud to me.
They’ve done this before,take the sols letter to court as evidence and expose them for what they are.
They are right in that guidelines are what they say and not binding but mcob rules are binding to the letter and non adherence can give you a claim against them for damages under FSMA 2000 S150.
Hi, I’ve just finished talking to this poor excuse of a mortgage company on the phone. They informed me that the last 3 months payment have not been received even though i have paid online and got the confirmation emails with transaction reference numbers and authorisation codes. i told them this over the phone and they said that it doesn’t matter about these and it doesn’t count for anything. i was wondering if any of you could offer any advice. thanks in advance!
I have had similar problems with online payments. Write a letter of complaint enclosing copies of your bank statements showing that the money has left the account and your confirmation emails. They can’t argue with that. However, three months they allege missed means that you will soon be served with the default notice. Once you have won the argument about the missed payments – which you will, of course – you will then have to fight the charges associated with the default notice, and with the alleged arrears. My advice is to challenge everything in writing, keep copies of everything, keep a record of every conversation, don’t unless you absolutely have to talk to them on the phone unless you can record the conversation.
I paid off SPPL/Capstone/Acenden by selling my house as I could no longer cope with them adding fictitious arrears and charges to my account. 3 times they tried to repossess my property when I only owed them 2500 to clear the mortgage!This occurred when an insurance pay out paid them the loan in full but they then came back to me a year later saying that I owed them an extra 2500 but the time I had finished arguing with them the arrears had mounted to 10000.00 with costs etc., Now I am clear of them I am going to start the fight – any help would be gratefully accepted and I will try and do whatever I can to help anyone else as I no longer have to be scared of them
ANY LUCK WITH UR FIGHT WITH THIS SHITTY COMPANY????
They are very crafty b——.I found I was in credit(not by a sustantial ammount)& I asked that if I continued paying at my current rate that the difference be used to reduce my o/s sum.I got told (in no uncertain terms)that unless it reached £1000 it would just sit there in an unappluied a/c unless I asked them to do it,& then to crown it all Igot told that everytime I asked for it to be applied Iwould get charged £65 ADMIN FEE!nOW THATS WHAT i CALL A B—– Cheek & daylight robbery!
If you have the same terms and conditions as I do, then they agree to pay all money received into the account – and this does not mean just when they feel like it, or when it reaches £1000. Phil Ford, your story is an outrage. what exactly are they doing for a £65 admin fee? Complain, take it to the FSO, don’t let them get away with it.
I have a mortgage with acenden. I keep receiving (annually) letters telling me that I do not have buildings insurance in place and the they will be adding X amount onto my monthly payments to include buildings insurance provided by them. Each time this happens I call them and let them know that due to my home being shared ownership the housing association cover the buildings insurance in our contract and monthly service charge to them. After speaking to the HA, the agreed to fax /email the buildings insurance document with a cover letter. Acenden have since said I will be entitled to refund but for only 50% of the fees minus £50 cancellation charge. I’m confused as to why they have continued charging me for buildings insurance after I provided the documents they requested proving I had insurance in place. I also struggle to understand why I’m only due 50% of my fees when I didn’t even ask them to provide me with cover. Any advice? After researching the company I see this happens frequently. Am I entitled to the full amount? Should I make a formal complaint? Thanks
I also have this problem with Ascenden every year. I supply them with proof of building insurance and they add a charge of £100 each time for “administration”.
wot a fucking joke of a company!!!! took out a loan in 2006 itz the worst thing i ever did,had nothing but trouble from this shitty company.they took me to court 2 times but luckily the judge understood.itz not just this company,they solicitors are in on it(fact).they are no help watsoever,all they are after is your property!!!!!!!!!!! but thank god allmighty i managed to sell my property an pay these bastards back.all they ever do is add charge after charge and then they told me that they are not obliged to help!!!!!!!!!!!!!!i took out 26,000 in 2006 and in 2012 they took back off me 25,200,so on a capital and repayment mortgage i paid off less than 1,000 after nearly 6 years,wot a joke.so i asked them for the statements from 2006 to 2012 and the bastards want another 35 pounds,all they do is take ur money…….from 2006 to 2012 they have taken more than 4,000 pounds in fuckin late fees,the company and staff are the worst ppl u cud ever deal with!!!!but am gonna get my statements doubl checked to make sure these BASTARDS HAVENT RIPPED ME AGAIN
4000 in late fees? I imagine you must have made quite a few LATE payments. There’s a hint for you……
WHO DO I COMPLAIN TO????? HELP PLEASE!!!
Note. Properties reposessed through the illegal workings of this company are not sold by auction, they are sold through estate agents to get the best possible price. In other words, they get any profit, not you.They place many obstacles in your way that gain them time and extra money.Never mind occupy London, occupy High Wycombe!Whoops, perhaps I should now expect a police swat Squad for inciting rebellion!
Andrea. Hi. Thanks for your post. Please don’t post your full name though. I’ve edited this out. Inciting rebellion and insurrection against this appalling band of thieves and the equally appalling and inadequate regulator is fine by us. Keep it coming. The only way to win is through peaceful active dissent. None Cooperation if you will. And to square the circle we need to find a way of doing this without losing our homes. Best.
lm claiming charges,ppi..my reps were told l DO NOT have an account with Acenden, l remortgaged – twice! l asked for proof early last month as well as who my account was with? Who were Acenden in regard to my mortgage if they don’t hold my account?, l had a reply telling me they they don’t know who they are but will let me know by early January this year (what!! l complained in Feb!)
l managed to get some insurance payments refunded to my account!! All be it, they didn’t refund to my payment account from which they were taken, they refunded of the total amount owing…leaving my account in false arrears and they owe me more as they didn’t refund the full amount. They say they will evict me, but if l do not hold an account with them…how?
Acenden are merely administrators for your loan. There will be an originating company with whom you signed the credit agreement. You need to go back to your original paperwork. There will also be a new company who currently owns your loan to whom your originating company sold your loan. Acenden formerly known as Capstone front for both – which is why it is confusing. Acenden will repossess you if they can on behalf of the new owner. Acenden hide behind the companies they work for so this is why your reps were told that you do not have an account with Acenden. If you are in dispute with Acenden you need to get up to speed, and find your paperwork, terms and conditions etc because you will certainly need them. Congratulations for getting PPI back, well done! They will take it off the capital not the arrears and hope you don’t spot this. I have just succeeded in getting quite a large chunk of unfair charges back, and this was refunded to the capital not off the arrears, though the arrears consist solely of their charges. which means yet another complaint, yet further contact with the FSO.
This company is **** my mom is with capstone and she is behind with her mortgage too thanks to them adding bits here and there she works 12 hour night shifts over 4 days sometimes even doing overtime to 7 days a week! They have sent letters before about repossessing her and bailiiffs constantly bitchin at the door I hate the company and if i ring them for her and they do answer they can expect a full round of abuse! and a damn good earache afterwards they didnt care when my mom informed them she had broken her wrist and couldnt work all they want is for u to get repossessed so they can have ur home!
Can anyone advise on whether I can claim for unfair charges against Capstone. As in my earlier post, my home was repossessed back in 2007 and I have no paperwork whatsoever from the account. Thank you.
I must confess, I haven’t read every single post so forgive me if I am repeating advise with regards to Capstone, SPPL etc., but more particularily SPML.
My findings are that securitisation is a well used financing structure used by almost all lending institutions – big, medium or small.
This post deals with mortgages originated by SPML – to advise that in 2007 000′s of borrowers mortgage account numbers can be evidenced as being party to a mortgage pool where the total amount mortgaged (mortgage debt) was SOLD (and hard copy evidence is now available to prove they were actually sold)so that Borrowers have every right as based on the sale to challenge SPML’s purported ‘right’ to possession of any of the homes that were party to the mortgage pool.
The hard copy evidence relates to 000′s of properties that were packaged and sold in 2007 – from this, I presume that any Borrower with a mortgage with SPML entered into upto and including November 2007 MAY be able at last show proof of the sale – by evidencing that your mortgage acct number is shown in the Appendix to the Eurosail prospectus 2007.
It is not an easy road to take this matter to the courts, my findings as many of you may have found – the courts and the lenders are happy to concede ‘charges’, ‘arrears’ etc., but seem less willing to uphold a consumers rights when it comes to protecting your home.
It would seem that individual approaches are being knocked to the kerb, Is it even worth thinking that we pool our knowledge and present a case as a consumer group??? Sadly I’m not sure how to go about this or indeed if it would work – but something has to be done!!
Nothing wrong with securitisation per se. It’s more the mode by which it is exploited by the likes of Lehman, SPPL, SPML Capstone Acenden etc.
But before we go into the why’s and wherefores this is an approach doomed to fail in the English courts. Check out Walker v SPPL in the Supreme Court in 2010. The SPV substituted itself as the Respondent upon Appeal and the highest court in the land saw nothing wrong approach.
Search for the often abused distinction between equitable and legal assignments. This doesn’t happen in the US so the “who owns the note” argument is successful there but has not and will not work here. Hence the widespread and untramelled abuse of UK consumers of these appalling self destructing mortgages. The filth did their homework very well indeed.
It’s a NO GO from the outset. It needs an endorsement from the court and no court in the UK will endorse it. Our justice system has become rotten, corrupt and infinitely creative.
At least on this point nothing can be done.
The archaic s136 LPA1925 is exploited to give in their own words the “originator” spml etc the right to take your home as trustee for the securitised buyer who is unregulated by the FSA IS THE EMPLOYER OF ACENDEN the collector who purports to collect your repayments and enforce the security of the loan on behalf of SPML.
Meanwhile because of the admin contract between buyer and Acenden most of your protection under a regulated loan is in the wind cos the buyer is unregulated and CHOOSES not to register their interest ie ownership at HM Land Registry so they get away with it as do their agents Acenden with their ongoing programme of repossession as the first resort.
Theres a whole section showing how this is achieved.
Will repost it when found ,sit back read and see how it bears remarkable similarity to the ways your account has been managed.
Here it is again for the record,how the third party Administrator gets your home.
This is the American model can anyone here see any similarities?
1.Block insurance policy despite you and your own insurance company informing them you already have an insurance umpteen number of times,your account is then immediately in arrears with fees added?
2.Mysteriously lost payments putting your loan in default,exorbitant fees then added?
3.Bullied and threatened into paying lump sums as loan modifications in times of hardship do not exist.?
etc etc
—————————————————-
Introduction to the Mortgage Servicing Fraud [problem]. 2003
This is a game of heads they win – tails you lose.
• These are not “predatory lenders.”
These companies do not loan money. They operate in the lending industry after-the-fact. They take on a function that a lender doesn’t want – the backroom functions of handling payments, escrow accounts, annual statements, dealing with borrowers, collections, etc. The perpetrators of the loan servicing [problem] acquire the servicing rights to loans that other companies have already made. (Loans that were deliberately constructed by predatory lenders are ideal for processing through servicers that specialize in aggressive collections or rapid foreclosure processing, but the loan servicing [problem] can be operated against any mortgage loan if the servicer acquires the rights from the lender.)
• These [problem]s are designed and deliberately operated.
These situations are not errors, mistakes or situations where a servicer’s managers or employees failed to do their job. Their systems are well-designed and state-of-the-art in terms of analytical technology that helps them choose and process their victims. These [problem]s generate enormous profits from a business that is difficult to run, people and litigation intensive and normally only marginally profitable. Many have failed and been acquired (Fairbanks bought several).
• You, the borrower, are not their customer. Lending companies and investors are their customers. As a borrower being “serviced” in the [problem], you are simply one of millions in an ever-growing pool of what the financial services industry deliberately labels as “sub-prime” borrowers waiting to be taken advantage of.
• They have almost unlimited legal resources. If you had the financial resources to have effective legal representation and the documentation to challenge them, they would turn their attention to easier targets. Of course, because most sub-prime borrowers are not well off and don’t have an attorney, you’re a likely target.
• They have leverage and information and will prey on your fears. The fear of possibly losing your home is the key that unlocks your bank account for them. They know almost everything about you financially and even from an employment and income basis. They are made aware of your inquiries into other lenders about refinancing even without a request for a payoff and that shopping may lead them to target you before you can get out of the loan you’re in.
• They are experts with millions of successful cases behind them. The loan servicing industry, including those who founded and are running the servicing [problem] companies, helped craft the “standard” loan documents in widespread use. They are written entirely for the protection of the lending industry, not the consumer. That situation allows them to manipulate their processes and procedures to push you into a position where they can take funds from you or ultimately take your home, often within the terms and conditions of the loan. Some do go beyond the terms or even break the law and aren’t stopped because the borrower does not actually understand the agreement they signed or the laws and regulations.
The path toward losing your home to this [problem] is actually quite simple.
1. The first phase is designed to fabricate the default, and typically begins with one, or a combination of ways to arm the servicer’s records with false data:
2.When the servicer decides to manipulate the date the payment is received in order to artificially create a late payment.
3.When the servicer applies part of the payment to something other than principal and interest and creates a partial late payment or deficiency.
4.When the servicer decides to “force place” an insurance policy on the property by claiming the homeowner has not provided proof of insurance.
When the servicer pays your property taxes late, then adds their late penalty to your account without your knowledge.
Any or all of those processes result in at least one month of the account being past due and a negative note is made in the credit report (which effectively prevents the borrower from refinancing). It also helps the Private Mortgage Insurance carrier keep the policy in effect on the loan, which is why these insurance companies have investments in servicing companies in the first place – a late payment or two allows the lender to keep the insurance in force.
If the borrower has anything more than about 10-15% equity in the property, it is to the servicer’s advantage at this point to not aggressively attempt to collect. In fact, if the borrower makes contact, the servicer will engage in delay tactics to avoid resolving the problem in time to prevent default. If the equity position is considerably less than 10%, the servicer does not have as much leverage, nor is the opportunity as great and they will typically be more aggressive in collection efforts and more willing to keep the loan in force.
In the case of force-placed insurance, it is to the servicer’s advantage to ignore the borrower and any proof of insurance as long as possible; again, to keep the borrower’s credit status in a negative light and to maintain their relationship with the insurer they contract with. These policies are extremely profitable because they provide absolutely no coverage for the homeowner. They protect ONLY the value of the loan, including interest if the property is destroyed.
If the servicer has analyzed the opportunity and marked the property for default and recovery, the next payment received will be rejected as being insufficient. If it is accepted, the application of the funds leaves the loan sixty days past due. Typically, the [problem] now moves toward formal legal notice of acceleration in order to coerce the borrower into signing a highly-profitable forbearance agreement to somehow “save the home.” The servicer rolls thousands of dollars in penalties and an incomprehensible combination of legitimate and illegitimate fees into the agreement and the homeowner is left with no choice but to sign it or lose their home. The amount demanded will be calculated to take as much of the homeowner’s equity as possible.
If the homeowner decides to sell the property to get out of the situation and take their equity, they will find the payoff amount (which in the last month of the [problem] will take longer to get than the amount of time left before foreclosure) strips them of their equity. That combined with their artificially-damaged credit rating helps keep the victim a victim.
If the borrower cannot pay the amounts demanded in the forbearance agreement, the servicer will have one of their network of specialized attorney firms foreclose and the property will be sold, typically at a county auctionicon or through their real-estate network.
If the borrower signs the agreement, they will soon be recycled through the process with yet more late payments and fees. But in the terms of the forbearance agreement, they may find they have signed away any legal protections they may have already had, including the right to sue the servicer for fraud or misrepresentation.
If the homeowner cannot find or afford competent legal representation to stop this fraud, they lose their equity and in most cases, their home. MSFraud.org
Very glad to see this site back! I have some success through the FSO and managed to get most charges reimbursed. The FSO say that they cannot impose a charge in any month where a contractual monthly payment and overpayment is being made. I have a new battle with the FSO at the moment. I have found that although we have been in an “arrangement” for three years now and the account is still allegedly in “litigation” the “default fee account” shows no receipts in the payment in column although there are three years of extra payments so the arrears never go down. All the extra payments simply come off the capital account. There was one occasion when they put two litigation fees on the default fee account in one month which was probably an error but they recredited one of them to the current account so that two fees still showed on the default. It seems they can’t split a payment and put the contractual payment into one account and the extra off the arrears.
i am having the same problem with this robbing company now acenden mortgages for insurance i never asked for because we have our own and when you prove it they are still charging me and making me pay arrears,and also will not let me set a dd date only one i can have is first of every month because of there libor rubbish and will not except debit card payments only if i miss a payment and charge me a fiver for the privelige,not that i have missed payments but that what they told me if i did..these people are low life robbing f***ers time they got sorted trouble is like fso and other ombudsmen shit in the same pot take the libor fraud just goes to show unless we stand up together against these kind of people they will always stay robbing f***kers.
I took out a loan for 15.000 in 2006 , in 2010 I was made redundant I only had 10 more payments left ,I missed 3 payments and they took me to court 4 times for repossession I asked to put loan over another 2years to reduce payments but they refused ,I owed 4.000 pound but after all charges from court hearings ,letters ect I now owed 13.000 pound they bullied me so much I let them take the house , I later found out that they could not sell it because they were not the main mortgage ,my main mortgage sold it for what was left owing to them 60.000 less than valued ,so sppl had nothing , if I did not let them bullie me and looked in to this more I would not have let them take my house, I have since tried to get unfair charges back they told me to pay 4,000 and they would write the rest off just goes to prove they were in wrong , after loseing my house I am not paying them a penny!
This company are making me buy insurance when I already have insurance, and they are doing it without my consent; surely this is misselling of financial products. A practice which is illegal.
The FSA should get involved here. There seems to be a lot of fraudulent practices.
Karl its another ripoff.see this link
http://www.shaunparker.info/capstone-mortgages-beware/655283
Threaten them with the FOS IF THEY REFUSE TO REFUND
THEN IF NO RESPONSE COMPLAIN TO FOS
WTF THEY’RE STILL AT IT UNABATED AND UNCHECKED AS IT HAD GONE QUIET ON HERE THOUGHT THEY MUST HAVE CLEANED UP THEIR FILTHY ACT.
ANOTHER VICTIM.
Neil Heffey
I have exactly the same case with this company, been marking me as 4 late payments for three/ years. Insurance company forwarded them policies direct and they still added insurance premiums. FOS made them refund the insurance and they still left the charges for the monthly management fees. I applied to the court for the case to be relisted as they attempted for possession proceedings and then backed out with liberty to restore, so i restored it.
They have made an application to strike out my defence 4 days before the trial was to start and despite me challenging this at the court desk, as the trial was put off behind closed doors(i wasnt invited).
Case was listed for 7th August at Liverpool County Court and on the morning of the hearing for their application, they sent some top barrister with a skeleton argument and a bundle of case law to support their claim. Judge nearly ruled in their favour, until it was claimed this would breach article 6 of The Human Rights Act 1998, she then agreed that they had tried again to blindside me. The matter is now listed for a Chancery Judge hearing on 2nd October 2012 at Liverpool County Court.
I am counterclaiming them for losses of around £45’000. Feel like i am not getting a fair trial though just the appearance of one.
Its took me over a year now to get the Police to investigate them obtaining money by deception as when i would not pay by direct debit and i refused to pay for insurance they sent me a letter stating that my mortgage payments had changed due to an increase in the libor rates from 750 something to 832, this included 79 building insurance premiums which they did not disclose.
Merseyside Police have refused to investigate the matter for a year and a half until complaints were made to Merseyside Police Authority, The Home Office etc. Finally they may get whats coming to them as theres also an FSA investigation
I have a mortgage with Ascendon I was wondering if I can claim back my unfair charges while I still have my mortgage with them, they are getting me down I have paid nearly £4000 pounds back in so called arrears over the years but I honestly do not know what my true arrears have been and what the charges were I think it is more charges than arrears I really need some help as I am at my wits end, I am the only wage earner in my family as my partner is unable to work beacuse he is ill and we are not allowed benefits, my salary is not great
http://www.acendenactiongroup.co.uk/get-your-stolen-money-back/
The only way is to go through the FOS as in above link.
You need to find out how much your actual arrears are and how much they have charged in arrears charges by looking at your account or write to them recorded delivery as thats the first step.
See above link to another part of the site,if any problems post again.
Have just logged onto the website to pay the monthly bill which should have been for May 1st but I have an arrangement to pay late. The next due date was showing as 1st June. Now I am sure I have not accidentely paid them twice, but looking at this I would be forgiven for thinking that I don’t need to bother making a payment until 1st June. And then, naughty me, I would be a month in arrears. and back in the s**t. Anyone else notice this on their account?
Mmm … I’m struggling to think why the filthy capstone / Acenden would be engaging in these despicable practices. Without the Alliance and Leicester contract they’d already be dead in the water. Amany effed off pretty sharpish and never accepted my challenge of a debate adjudicated upon by Dyson of the Mail. Why on earth should she? The filth she created still stalks the good people of Britain and she will sit in the court’s dock one day for her criminal conduct.