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Gmac mortgage
gbjojo2
Posts: 2 Newbie
Hi When we got our first mortgage about 9 years ago it was with GMAC aftre about 18 month we changed to a HSBC mortgage but had to pay a fee of over £2000 pound to leave the GMAC Mortgage can we claim this back:mad:
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Comments
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Why do you think you can claim it back?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
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Sounds like it was an early exit/termination fee?
What does your original documentation state as the early exit/termination fee?0 -
Thought I read somewhere that you could a bit like PPi
you cant.
Early repayment charges are considered fair and reasonable. It is little different to mobile phone contracts where you get a phone or similar things with tie in periods. Its just a larger amount given the size of the money being borrowed.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 -
If the early redemption charge was correctly disclosed in your mortgage offer then you correctly paid it when you redeemed the mortgage. End of.0
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