Secured Loan Charges after eviction

[PlanB]

Re: Secured Loan Charges

In 2006 my wife and I took out a secured loan for approximately £7000. To cut a VERY long story short, after repossession last year we've managed to redeem the loan and get our house back at a cost just short of £24000 (final payment not including payments previously made). Is it possible to claim back charges in a similar way to bank charges, if they were excessive? I've tried searching across a number of forums but still feel unclear about this.

The answer to the question in your first post is *Yes* you can claim back overcharges and unfair charges even though the loan has been redeemed. And the Statute of Limitations doesn't start to kick in until "the relationship ended" i.e. when you redeemed and not when the loan was taken out, so you've still got 6 years to do this That's spelt out in Patel vs Patel 2009 para 66 If I've got that wrong you can blame Paul because that's where I got it from

To do this you will need your original credit agreement so keep digging. If you can't find it then you can get it from Blemain with a SAR. You can't send a s.78 request for it because the account has been terminated.

Hope this helps

[stillstanding]

Re: Secured Loan Charges

Hi Niddy,

it relates to charges really I don't think we had PPI.
Also not sure about court interest charges either, if you read back I'm not to good with figures and the way Blemain lay out charges doesn't offer much info.

I do have the majority of past correspondence, but not sure where to begin.

[stillstanding]

Re: Secured Loan Charges

The answer to the question in your first post is *Yes* you can claim back overcharges and unfair charges even though the loan has been redeemed. And the Statute of Limitations doesn't start to kick in until "the relationship ended" i.e. when you redeemed and not when the loan was taken out, so you've still got 6 years to do this That's spelt out in Patel vs Patel 2009 para 66 If I've got that wrong you can blame Paul because that's where I got it from

To do this you will need your original credit agreement so keep digging. If you can't find it then you can get it from Blemain with a SAR. You can't send a s.78 request for it because the account has been terminated.

Hope this helps

That a big help PlanB, thank you!
We haven't given up on finding it yet, but think will do a SAR next week eitherway.

Have you any advice on the fact that they've carried on chasing after redemption? not sure how to respond on that, but worried it might be a timebomb and i've missed something..

thanks again for your help

[PlanB]

Re: Secured Loan Charges

Hi Niddy,

it relates to charges really I don't think we had PPI.
Also not sure about court interest charges either, if you read back I'm not to good with figures and the way Blemain lay out charges doesn't offer much info.

I do have the majority of past correspondence, but not sure where to begin.

Do you have the possession proceedings court order because that should deal with the issue of any right to charge interest after that cut-off point.

There is also the big issue of whether you were lawfully evicted, so getting the whole file from Blemain with a SAR is what I would do

[PlanB]

Re: Secured Loan Charges

That a big help PlanB, thank you!
We haven't given up on finding it yet, but think will do a SAR next week eitherway.

Have you any advice on the fact that they've carried on chasing after redemption? not sure how to respond on that, but worried it might be a timebomb and i've missed something..

thanks again for your help

If you've missed something we'll try to help you find it

The issue of charges after redemption will depend on what was in the original agreement. Sometimes it's just late billing for things you genuinely owed the creditor Other times it's the creditor trying to rip you off

This site doesn't give advice we just try hard to point you in the right direction

[stillstanding]

Re: Secured Loan Charges

Thanks I think you're right, the SAR has to be the starting point. You mentioned s.78, but as they added charges after the mortgage was redeemed, am I right in thinking that in their view the account isn't actually terminated? this is where i'm getting confused..

[PlanB]

Re: Secured Loan Charges

Thanks I think you're right, the SAR has to be the starting point. You mentioned s.78, but as they added charges after the mortgage was redeemed, am I right in thinking that in their view the account isn't actually terminated? this is where i'm getting confused..

An interesting point but let's wait and see what comes back from your SAR. If your account hadn't been terminated then why did four large thugs turn up in your front garden, break down the door and evict your family causing unbearable pain and misery

I'm more intrigued by Blemains' speedy willingness to give you back the keys to your house four weeks later when you paid money into their bank account

What does it say on Land Registry about all this (dates charge removed etc). Maybe download an Office Copy for about £3 from their website too and then have a conversation with them later on.

[stillstanding]

Re: Secured Loan Charges

If you've missed something we'll try to help you find it

The issue of charges after redemption will depend on what was in the original agreement. Sometimes it's just late billing for things you genuinely owed the creditor Other times it's the creditor trying to rip you off

This site doesn't give advice we just try hard to point you in the right direction

Thanks PlanB

Obviously interest was added after the court hearing but I've no idea if any of it relates to court charges.

all of the current charges (listed earlier) applied to the account made no reference made to it being for anything other than a presumed ongoing relationship. Which i'd have thought ended when we redeemed.

I'll get the SAR first I think, thanks again for your help

[stillstanding]

Re: Secured Loan Charges

An interesting point but let's wait and see what comes back from your SAR. If your account hadn't been terminated then why did four large thugs turn up in your front garden, break down the door and evict your family causing unbearable pain and misery

I'm more intrigued by Blemains' speedy willingness to give you back the keys to your house four weeks later when you paid money into their bank account

What does it say on Land Registry about all this (dates charge removed etc). Maybe download an Office Copy for about £3 from their website too and then have a conversation with them later on.

Hi PlanB, in terms of getting back the keys, they gave us a figure to redeem the debt and we paid it, so at that point they released them (after adding the £300 for estate agents costs)

I was told by the solicitor that I'd have to pay to have the charge entry removed from the registry, so still waiting to do this as it costs a couple of hundred quid apparently..

[PlanB]

Re: Secured Loan Charges

Hi PlanB, in terms of getting back the keys, they gave us a figure to redeem the debt and we paid it, so at that point they released them (after adding the £300 for estate agents costs)

I was told by the solicitor that I'd have to pay to have the charge entry removed from the registry, so still waiting to do this as it costs a couple of hundred quid apparently..

Is he sure? They put it on so they can bloody take it off I'll look into this because I've never ever paid to have a charge removed but in my case it's always been a voluntary sale not a repo so I'll check that out when I get a minute

[stillstanding]

Re: Secured Loan Charges

Is he sure? They put it on so they can bloody take it off I'll look into this because I've never ever paid to have a charge removed but in my case it's always been a voluntary sale not a repo so I'll check that out when I get a minute

I accepted it on face value at the time, so not sure. Thank you I really appreciate it!!

I'll try to get a copy of the registry as you suggested

[PlanB]

Re: Secured Loan Charges

Hi PlanB, in terms of getting back the keys, they gave us a figure to redeem the debt and we paid it, so at that point they released them (after adding the £300 for estate agents costs)

I was told by the solicitor that I'd have to pay to have the charge entry removed from the registry, so still waiting to do this as it costs a couple of hundred quid apparently..

I knew your solicitor was talking rubbish Have a look at this link to Land Registry which confirms that there is no fee for removing a charge once the debt has been paid off and you can easily do this yourself - follow the link to the step by step guide and the evidence you'll need to prove it's paid

http://www.landregistry.gov.uk/publi...o-i-need-to-do


Maybe the £200 was the fee he intended to charge you for carrying out a free service

Some of the things you've said make me wonder whether your solicitor did a competant job with all this. But that can wait until you get back your SAR which may flag up all sorts

[jon1965]

Re: Secured Loan Charges

Not sure if this is relevant but I once had a secured loan on my property from a bunch of shisters and when I paid it off they included £70 to remove the charge from the land registry. Well they didn't do it and 10 years later when I went to sell the house I had to threaten the stupid cow on the phone that i would come round and stage a sit in if she didn't do it. She tried to tell me it was up to my mortgage provider to do it.

[PlanB]

Re: Secured Loan Charges

Obviously interest was added after the court hearing but I've no idea if any of it relates to court charges.

all of the current charges (listed earlier) applied to the account made no reference made to it being for anything other than a presumed ongoing relationship. Which i'd have thought ended when we redeemed.

I'll get the SAR first I think, thanks again for your help

Have you got your SAR back yet It would be good to see if you can claim back any overcharges due to you before Christmas