CAM bank mortgage now Sabadell help please.

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23 Apr 2018 23:06 by charles Star rating. 5 posts Send private message

Good evening,

I bought an apartment on AL Andalus Hill Vera back in 2006.

I took on the developers (Keymare) mortgage with Cam Bank.

In 2011 Cam Bank was taken over by Sabadell Bank.

I want to part redeem my mortgage ,but it appears that Sabadell want to charge 1% commission .

In my original Cam Bank agreement there was a 0% part redemption fee.

Does anyone else have an ex CAM Bank mortgage that was transferred to another bank and had different terms applied to the mortgage ,or could confirm that Sabadell are acting unlawfully 

in charging this fee.

Any advice would be greatfully received

Ray

 

 

 

 

 

 

 

 

 

 

 

 

 





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24 Apr 2018 09:17 by Kavanagh Star rating in Oil Drum Lane Newcas.... 518 posts Send private message

Kavanagh´s avatar

Hello Charles or is it Ray and welcome to EOS

Sadly this is the typical type of stunt pulled by a Spanish bank. It would probably cost you more in legal fees to sort it out than the 1% commission, and the bank knows that. All down to no effective regulation.

Perhaps your best and cheapest option is to make a complete nuisance of yourself. Go to your local branch waving your original mortgage agreement and camp in the manager’s office, take your sandwiches and a flask of tea. Don’t waste your time with phone calls and emails to a Spanish bank.

If you are stuck in the UK then hassle the London branch manager (daily). Phone calls will be cheaper.

Address: The Leadenhall Building, 122 Leadenhall St, London EC3V 4AB, UK

Hours: Open 24 hours

 

Phone: +44 20 7321 0020

 


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24 Apr 2018 11:18 by charles Star rating. 5 posts Send private message

Thanks Kavanagh

It's actually Ray Charles !!!

Tried taking everything to SABADELL in Spain they emailed someone still waiting .......

 





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24 Apr 2018 12:33 by Jarvi Star rating in Halifax UK. 626 posts Send private message

I too had a mortgage with Cambank and then it transferred to Sabadell. If I remember correctly the redemption fee is applied to the remaining balance on the mortgage. (You should check with them) I paid 3 large payments over a period of months leaving a balance of 5000 euros, then asked for a redemption figure for the mortgage. Therefore the redemption fee was 50 euros.

 

 


This message was last edited by Jarvi on 24/04/2018.



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24 Apr 2018 12:49 by charles Star rating. 5 posts Send private message

Hi Jarvis,

Do you recall paying 1% commission on those 3 large payments?

The plan was to make a payment of €60k (similar to yourself) leaving €2k outstanding then redeeming the balance to clear the mortgage.

 





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24 Apr 2018 12:56 by Jarvi Star rating in Halifax UK. 626 posts Send private message

I definitely didn't pay any commision on the large payments, only on the final redemption payment.





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24 Apr 2018 13:03 by charles Star rating. 5 posts Send private message

Were those large payments made to Cam or when Sabadell took over?





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24 Apr 2018 13:06 by Jarvi Star rating in Halifax UK. 626 posts Send private message

All to Sabadell.





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24 Apr 2018 13:13 by charles Star rating. 5 posts Send private message

Great thanks Jarvi,

Ray





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