"SPML" Charges (But do they ever get to see a penny…?)
Here are those fair charges in full from SPML A Further List of SPPL and PML charges will be posted up, though the actual pdfs have been available on this site for some time. Let’s post these up and get a comparison with GMAC-RFC, Kensington and Redstone going. From there we can look at their wider conduct and identify closely the regulatory breaches. Lets get this right, make it authoratative and flag it up to the FSA the OFT and The Ombudsman.
Monthly Collection / Arrears Management Fees
Late Payment Management Fee: £25.00 (per occurrence)
Arrears Management Fee £85.00 (per month)
Litigation Management Fee: £115.00 (per month)
Repossession Management Fee: £115.00 (per month)
Capitalisation of Arrears Fee £65.00 (per occurrence)
Failed Payment Fee £9.00 (per occurrence)
Referral to Solicitors Fee £50.00 (per occurrence)
Property Pre-market Fee £250.00 (per occurrence)
Third Party Fees Varies
You will be required to pay all costs we pay to third parties to recover any money owed to us or to protect our security or legal rights, e.g. Field Agent appointment, Solicitor’s costs, Estate Agent’s costs.
A fee may still be charged if following a request the Field Agent attends and the interview is declined, or where the Field Agent visit is cancelled.
Cancellation of Buildings Only Insurance Fee £50.00
Charged to your mortgage account where a buildings only insurance policy has commenced on our behalf and is subsequently cancelled following receipt of an acceptable buildings insurance policy schedule.
Data Protection Documents Fee £10.00
Deeds Release Fee £65.00
Documentation Review Fee £65.00
Final Repayment Charge £190.00
Lender Referencing and / or Consent Fee £65.00
Part Sale of Property Fee £65.00
Partial Repayment Fee £65.00
Charged to your mortgage account when you pay off part of the capital balance of the mortgage in excess of the normal contractual repayments. Please refer to your Mortgage Offer documentation as an Early Repayment Charge (ERC) may also be applied.
Product Change (Contract Variation) Fee £65.00
Redemption Statement Fee £35.00
Charged when you, or an authorised third party acting on your behalf, requests a statement to show the total amount required to pay off your mortgage.
Re-Inspection / Re-Valuation Fee Varies
Release of Retention Fee £65.00
Charged to your account when retention monies are released.
Statement Fee £35.00
Charged when you, or an authorised third party acting on your behalf, requests an ad-hoc statement, a month-by-month breakdown of your mortgage payments or a month-by-month breakdown of your mortgage payments including arrears. Payment is required prior to dispatch.
Service Charge / Unpaid Ground Rent Fee £100.00
Charged when notification is received that there is unpaid ground rent and / or service charges on the mortgaged property and the unpaid rent / charge is then paid on your behalf and debited to the mortgage account.
Tenancy Agreement / Renewal Fee £65.00
Charged when a request is made to approve or renew a tenancy agreement. Solicitor fees may also be payable. Payment of the fee is required at the time of application. You will be notified of any changes to the interest rate charged on your mortgage as a result of the tenancy.
Transfer of Equity / Title Fee £65.00