ERCs- Early Repayment Charges - early exit fees. (merged).

MarkyMarkD

Your solicitor should have a copy of the redemption statement from Halifax, if you've lost your own copy. That will show if an ERC was charged.

You are unlikely to have incurred an ERC unless you redeemed during a fixed or discounted period; similarly you are unlikely to incur one on your current mortgage unless you redeem during a fixed or discounted period. You shouldn't worry about it unnecessarily, but Halifax will tell you if your mortgage is subject to an ERC and until when if so.

d9rra

Hi just a quick question
I have been getting loads of mixed answers.
Me and my ex took a mortgage out with accord when we split we had to pull out of the mortgage early this cost ME nearly £3000 can I claim this back or is it long gone. :mad: :mad: :mad: :mad:

Crying_over_spilt_milk

d9rra wrote: »

Hi just a quick question
I have been getting loads of mixed answers.
Me and my ex took a mortgage out with accord when we split we had to pull out of the mortgage early this cost ME nearly £3000 can I claim this back or is it long gone. :mad: :mad: :mad: :mad:

THat's the trouble with not being able to ask an expert directly on these sites. People mean well but it's not the same as asking a solicitor (or similar) - not that they're totally reliable either;)
My understanding is that anything you want to claim for has to be within 6 years and THEN you can try. WHy not start with contacting Accord, but on the assumption that they are not going to open up to you with alacrity!! Maybe try your local CAB - some are excellent... Good luck with your search; sorry I can't be more helpful.

KTF

d9rra wrote: »

Hi just a quick question
I have been getting loads of mixed answers.
Me and my ex took a mortgage out with accord when we split we had to pull out of the mortgage early this cost ME nearly £3000 can I claim this back or is it long gone. :mad: :mad: :mad: :mad:

Was it an ERC as stated at the start of this thread? If so then its a legitimate charge.

If not, can you give us a breakdown of what the 3K covered.

Crying_over_spilt_milk

KTF wrote: »

Was it an ERC as stated at the start of this thread? If so then its a legitimate charge.

If not, can you give us a breakdown of what the 3K covered.

Sorry but it wasn't me who posted that, it was "d9rra" a couple of postings up from my reply to him/her!

Noz

Crying_over_spilt_milk wrote: »

Sorry but it wasn't me who posted that, it was "d9rra" a couple of postings up from my reply to him/her!

:huh: KTF is replying to d9rra, that's why they quoted d9rra's post?

KTF

I think there is some confusion between a 'thread' and 'email'.

Crying_over_spilt_milk

Noz wrote: »

:huh: KTF is replying to d9rra, that's why they quoted d9rra's post?

So why did it come to my inbox?! Just trying to be helpful - that's all!

dunstonh

Early repayment charges are not unlawful. You cannot claim them back. They are a valid charge used in the pricing of the overall product. They are there because you chose a deal at the start which which offered terms which were only able to be offered if you stayed for the whole tie in period. If you dont stay the distance, the lender can quite correctly make the charge.

So why did it come to my inbox?! Just trying to be helpful - that's all!

Because you have the email message that tells you when someone has added to the thread since you last visited.

Crying_over_spilt_milk

dunstonh wrote: »

Early repayment charges are not unlawful. You cannot claim them back. They are a valid charge used in the pricing of the overall product. They are there because you choose a deal at the start which which offered terms which were only able to be offered if you stayed for the whole tie in period. If you dont stay the distance, the lender can quite correctly make the charge.


Because you have the email message that tells you when someone has added to the thread since you last visited.

THank you dunstonh! Twas actually your reply to me yesterday that casued the confusion. You replied to the thread & I got the message that you had done so but becaseu you hadn't included my quote it was unclear to me whether you were replying to me or someone else! I've only been on here for 2 days so I'm still learning...