| Product: |
Kensington Mortgage Company |
| Date: |
18/11/08 (271 review reads) |
| Rating: |
 |
Advantages: none
Disadvantages: a lot
We thought we had no choose but to go to Kensington; advice we took from a mortgage broker in 2006.
Since then we found out that Halifax would have given us a self cert mortgage at the time.
Now we are caught with Kensington as the credit crunch makes it impossible for anyone to self cert. We did not have a bad credit history but we could not prove our income. Recently my husband due to illness has retired and we had a back payment from D.W.P but in their wisdom they sent it to Kensington to take the arreas and refund us the difference.
Simple we thought.
But one month on we have had nothing but lies and deception from Kensington as they keep our monies and make interest on it.
We on the other hand get charged fees. They say they want to sort it but have purposfuly messed us about. We believe so they can hold onto our entitlment/refund for as long as possible.
We beleive it is stealing and they are getting away with it.
We have contacted the financial ombudsman but it takes 8 weeks before they can help.
In the mean time we are fobbed off with even more ridiculous reasons of why we have not recieved our moneies.
Firstly we were told that Kensington would issue a cheque no problem just wait 10 days.
Then after waiting we were told that the moniies had been sent back to the D.W.P. Because of new laws, we checked up and no new laws so they changed stories to hold us up some more.
Then we find out after another 10 days that they did not send it back but then got a phone call to say they did and now would cancell the cheque so they hold onto our money longer.
We have been told to wait longer. We now believe that Kensington is out to get whatever they can in the credit crunch and do not care if they upset their customers at all, as long as they make money even unlawfuly because it seems they can???.
Summary: not really a morgtgage lender but a credit collection company with a mortgage section out to get u
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Last comments:
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- 21/11/08 Yes, great in hindsight but we all make mistakes;it is wonderful if you find yourself in a possition where you do not need to borrow from sub prime mortgage lenders.
However most high street lenders are just as awful if not worse as they hold all the power by loaning the money to the non-high street lenders to provide the capital for these sub-prime lenders in the first place most are connected; they put interest rates up to suit their own interests to pay fat cats within the high-street banks huge bonuses. We struggling people seduced by the loan products, people they the high street lenders have feasted off get reposession orders. It is not right the whole greedy system has back fired on the banks and they only care about the fat cats as the econemy crashes. |
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- 20/11/08 I would rather not borrow at all than borrow from a non-high street institution like these. |
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