We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
early repayment charge
travis437
Posts: 2 Newbie
I currently have a mortgage with A and L. I am on a fixed rate until October 2007. Due to a new job we are relocating in July. A and L were unable to offer me a mortgage at the level I needed to purchase my new property so I have had no alternative but to arrange a mortgage with a new lender. This will cost me £3762.96 in early repayment charges (3% of outsatnding balance). I spoke to a very nice lady at the A and L today who agreed that this sounded unfair and she told me to write to their Mortgage Customer Relations Dept, which I have done.
Has anyone had a similar experience and if so what was the result?
Travis 437
Has anyone had a similar experience and if so what was the result?
Travis 437
0
Comments
-
Most lenders will not waive the charge. They are losing the business and have no reason to waive a legally valid and quite fair charge.
There are often exceptions to the rule but I wouldnt get your hopes up.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.4K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.5K Work, Benefits & Business
- 601.3K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards