Duplicate redemption statement fee unfair?

LeifGR

Our lender, Yorkshire Building Soceity, only offers one redemption statement free of charge. Subsequent statements cost £25 ("administration fee").

It should be fairly clear that it does not cost YBS £25 to press a button and have the computer produce a redemption statement. Does this not make this practice a violation of the 1977 Unfair Terms (contracts) Act, the 1999 Consumer Credit Act - or both?

Andy_L

No, because they are providing a service & not imposing a penalty as a result of a contract breach

brannyrhino_2

LeifGR wrote:

Our lender, Yorkshire Building Soceity, only offers one redemption statement free of charge. Subsequent statements cost £25 ("administration fee").

It should be fairly clear that it does not cost YBS £25 to press a button and have the computer produce a redemption statement. Does this not make this practice a violation of the 1977 Unfair Terms (contracts) Act, the 1999 Consumer Credit Act - or both?

I tend to agree with you to some extent but you have to take account of the bigger picture.

Does the button press itself?

Did the computer pay for itself?

Why should other members subsidise your service requests?

Yes £25.00 is too much but be open about the true costs and who should pay for them. As much as i like you i don't want to subsidise your Red Statements especially as you are obviously jumping ship.