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Early redemption fee in the last month of fixed rate deal

13

Comments

  • ViolaLass
    ViolaLass Posts: 5,764 Forumite
    minimadtrix wrote: »
    ...acknowledge we are leaving due to no fault of our own, have been great customers

    What's forcing you to move?
  • minimadtrix
    minimadtrix Posts: 1,507 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    ViolaLass wrote: »
    What's forcing you to move?

    Their lending criteria has changed.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    minimadtrix wrote: »
    Their lending criteria has changed.

    So they don't want your business?
  • minimadtrix
    minimadtrix Posts: 1,507 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Thrugelmir wrote: »
    So they don't want your business?

    Looks like it.
  • ViolaLass
    ViolaLass Posts: 5,764 Forumite
    I'm so confused by this. I don't understand why the bank has just given the money away.
  • [Deleted User]
    [Deleted User] Posts: 21,434 Newbie
    Tenth Anniversary 10,000 Posts Name Dropper Photogenic
    ViolaLass wrote: »
    I'm so confused by this. I don't understand why the bank has just given the money away.

    :wall::wall::wall::wall::wall:

    Me too !
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ViolaLass wrote: »
    I'm so confused by this. I don't understand why the bank has just given the money away.

    Commercial decision.
  • minimadtrix
    minimadtrix Posts: 1,507 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    ViolaLass wrote: »
    I'm so confused by this. I don't understand why the bank has just given the money away.

    Maybe because, with just 25 days to go to the end of the fixed rate, most of the money would be profit. Who cares, the question I asked in my first post has been answered by the bank themselves. I asked the question, suggestions were made on this forum, I followed it through and got my answer from the bank themselves.
  • ViolaLass
    ViolaLass Posts: 5,764 Forumite
    Thrugelmir wrote: »
    Commercial decision.

    ERC against the PR? If not the PR, why do it?
  • marmaruser
    marmaruser Posts: 14 Forumite
    Eighth Anniversary 10 Posts Combo Breaker
    edited 8 November 2016 at 3:02PM
    I don't know why so many people have been so negative to the OP. OP was more sensible in asking the question and the Bank was sensible too. OP has paid the interest for almost 23 months and bank has obtained the same interest for 23 months. If OP gives the money back, it was just 1 month interest loss for Bank which they have got it back in the end. Some people are so negative to say that you have signed for it, so you have to pay complete ERC.

    Oh Please!!!
This discussion has been closed.
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