Mortgage Arrears Claims

When you find yourself in arrears with your mortgage payment, your lender can charge you fees with regards to your late payments on the grounds that it is more costly to run an account that is in arrears, than one that is not.

It may then come to the point where you are out of arrears and want to claim those fees back, but in most cases the lenders right to charge fees has been signed upon within the terms and conditions set out in black and white.

If you are only just discovering difficulties with keeping up with your mortgage payments, it is highly advisable you get in touch with your lender as soon as possible. Quickening your correspondence and letting the lender know about the problem you are having, how you intend on fixing it and how long it will take, buying you some time. You can then seek impartial legal advice from an outside financial advisory source such as a solicitor or legally trained professional.

If you have received arrears fees regardless of this process, and you would like to claim these charges back, it is first advisable to internally exhaust the lenders complaint process. This in itself can be helped immensely by having the support of a legal solicitor at hand.

The Financial Services Authority (FSA) has already made clear it deems these fees and charges are unlawful and unfair in times of arrears, and thousands of people have begun to reclaim.

Going through a process like this can entail some complex legal proceedings and handling of important documents, if you are new to this aspect of law and you feel it would be beneficial to enlist the regard of a legal professional, our free Find a Solicitor service can put you in touch with a reputable mortgage and financing expert in your area.