Transfer of equity mortgage early repayment charge changed

Waverley7

Hi

I originally posted a query regarding this a few years ago, in case I had to move in the future, that time is nearly upon me and I am re-visiting the issue I have with my mortgage company.

I took out a mortgage on a property in 2006 with my wife and my sister, my sister was only on the mortgage to help push it through as I was self employed at the time and my wifes income wasn't enough, my sister never lived in the property or paid towards the mortgage, I could pay the mortgage extremely easily we just had trouble getting the mortgage in the first place.

My deal was a 2 year fixed rate with a 5% ERC and after that the ERC was 1% of balance or 1 months notice.

My sister after 18 months was trying to buy a place of her own and was informed she needed to be off our mortgage, so I did a transfer of equity with the lender (Platform) to take her name off the mortgage, this all went through and it was only after this when I received the annual statement that I noticed that the ERC is now 1% until the end of the term, they have dropped the phrase "or 1 months notice"

I don't have a copy of the mortgage offer I was sent, not sure why, but my questions would be:

1: Is the lender allowed to do this?
2: Is a Transfer of equity a completely new contract?
3: Do I have any comeback on the lender?
4: As I don't have a copy of the contract under the transfer of equity I assumed they changed the details, would they have been allowed to do this?

I have contacted the lenders to get a copy of the contract to confirm this, but just wanted any advice on how strong any case I may have would now I need to move property.

To add to the mix my mortgage was sold from Platform to JP Morgan in the meantime. I have written to both of them showing the details and asking for copies of the mortgage offers and confirmation that there has been an error.

Any guidance would be most appreciated.

Thanks