Lender forgot to take ERC!

JS_1678

Hi all,

New to the forum and seeking your help, support and experience!

I recently moved house, we completed two weeks ago. All went fine on the day. However today I have received an email from my solicitor to say that I owe monies linked to an early redemption charge from my previous mortgage. Now the day after completion I received a statement from my solicitor with full breakdown and monies that were left over were returned to me. As far as I was concerned the deal was complete. Now two weeks on I am told that the early repayment was not taken as part of completion and I now need to pay (£2k). Now I knew there was a fee but perhaps nievely thought this would be included in the redemption statement provided to my solicitor from my lender. I was told this would be taken on completion by my mortgage advisor. I think what has happened is they forgot to add it on, two weeks after completion they have realised their mistake and gone back to the solicitor to try to reclaim. what are my options now? Can I argue this? It was their mistake, it should have been taken upon completion, what if I don't have it? Can they claim this now - 2 weeks post completion?

Thank you all in advance.

John.

ACG

It was a mistake, the money is owed.
They are not going to wipe a £2k slate clean when it was part of the contract you agreed to. They will just take it to small claims court. Having taken someone to small claims recently, it is surprisingly quick and easy to do.

Thrugelmir

Mistakes do happen. Not a reason to dispute repayment.

davidmcn

As ever with these things - if they had accidentally charged you £2k too much, what do you think ought to happen?

getmore4less

JS_1678 wrote: »

Hi all,

New to the forum and seeking your help, support and experience!

I recently moved house, we completed two weeks ago. All went fine on the day. However today I have received an email from my solicitor to say that I owe monies linked to an early redemption charge from my previous mortgage. Now the day after completion I received a statement from my solicitor with full breakdown and monies that were left over were returned to me. As far as I was concerned the deal was complete. ..............

Thank you all in advance.

John.

you new there was an ERC

presumably you had reviewed the redemption statement from the lender(did that have the ERC included) and knew how much you needed for the new place

With this breakdown of costs did you not notice there was a no ERC anywhere or the redemption did not match the lenders previous amounts?

haras_nosirrah

if the lender had accidentally taken it twice would you go - 'hey that's not fair I wan't my money back' or would you go 'I should have noticed, my mistake - they can keep it' - You know you would demand your money back so does the lender.