Selling Up

AnotherJoe

JGullsy wrote: »

AnotherJoe.. based on the way your reply read you were never in the intention to help(see my note below) but basically mock the way I have approached this. Correct you wouldn't know the terms and conditions of my mortgage, however referring to the fact I don't is a little bit far fetched.

First you said you understood about Ts&Cs and then you thought there would be in effect some leeway in them, some conditions that arent there that you feel should be there? That seems to be the jist of your response. That NOT understanding what Ts&Cs are.

Reading this paragraph back, I was referring to common sense on repayments and outstanding balance fees over periods of mortgages.

Common sense doesnt come into it. The Ts&Cs do.Because if "common sense" did, then where would it stop. Maybe its "common sense" that when mortgage rates dropped so would this one. Or maybe the lender woudl think it was "common sense" that rates have risen so they should raise your rate. Thats why the Ts&Cs are there, to make it very very clear what the contract is . It now turns out you dont like that so want "common sense" to change it to what you think it ought to be.


As I said I was a first time buyer at this point, with little knowledge of the way these things work in the mortgage world and something I will look closely at in the future.
The background I have provided was just to give users like yourselves the position I have put myself in. More so I am after advice on people experince with redemption penalties? Do you have any of these? If you do I would love to hear about it and if you were able to negotiate on them.

Au Contraire, I gave you a very clear suggestion;
Have you asked them to provide in writing why they said yes and then changed their minds?
.... write to them asking why the position changed and state you you've made your commitments based on that initial advice.

JGullsy

AnotherJoe
Thank you for your response and suggestion.

Maybe the way I have written it is a tad misleading, however I do know the terms and conditions of the mortgage. Fees etc were explained to me when we visited for a discussion about the plans.I get your point about common sense and the like not following what terms and conditions are there for. However it's not a case of me throwing the toys out of the pram now I've got this hanging over me, I've perfectly accepted the fact it will have to be paid. From what I have gathered from all responses today, which I am very grateful for, is that this is not like a bank charge that can be reclaimed or PPI that can be questioned.

As you can imagine, embarking on a journey such as this with my partner for the first time should be a happy experince but with being a bit confused as to why one minute we were under the impression that all could be done and then swept out from under us was a shock at least when that £6k could have been the furnishing for a new house and not add additional financial strain. As you said, a letter to the lender is the best bet and will follow suit with this as it seems the right way to go, I was just hoping for a little more information from people who had experienced these penalties before as would anyone being thrown into this situation. Yes I have made my bed by going this route but any suggestion is a welcome one.

Yours being the first response and to me being a tad negative for what I was looking for from this forum and resulted in my response. However I have taken it onboard and thank you for you knowledge.

AnotherJoe

Fair enough and enjoy your new house.