Early Cancellation Charge

minimike2

You accept mine?

I haven't made any apology (because there was nothing I said which I needed to apologise for?). Confused.

But there we go.

Thrugelmir

IanHunter123 wrote: »

I stumbled into one of those weird corners of the internet, and was subjected to the scorn judgement, and cyber finger wagging, of total strangers, which was a shock to my system. I thought that this only existed on the Daily Mail comments section, but I was wrong.

Absolutely no need to retort with further verbal d......... There's an ideal site for you. Called Mumsnet. All very cuddly. You can have a good moan and receive words of comfort and sympathy. No need to be put up with the good old fashioned real life observations that you'll receive on MSE. From a bunch of anonymous people who work in the world of finance in some capacity on a daily basis.

:beer:

in_my_bumble_opinion

We were in a similar situation recently with Natwest, having to sell 12 days short of being able to avoid the early repayment charge.

It was a miscalculation on my part about the dates, etc, then became impossible to change without the sale falling through (Doh!).

Anyway our new mortgage also turned out to be with Natwest (via a broker), though there was a gap of several weeks between the sale of our old house and the purchase of our new house.

Natwest said we would have to pay the early repayment charge as it was a new mortgage. We were prepared to accept that but when i was on the phone to them a few days later about a mistake with our new address details it came up again and the adviser said it might be worth getting our broker to write a letter asking if they would waive the charge.

He did and they did.

Fair play to Natwest (and our broker), saved us a lot of money.

Amst

in_my_bumble_opinion wrote: »

We were in a similar situation recently with Natwest, having to sell 12 days short of being able to avoid the early repayment charge.

It was a miscalculation on my part about the dates, etc, then became impossible to change without the sale falling through (Doh!).

Anyway our new mortgage also turned out to be with Natwest (via a broker), though there was a gap of several weeks between the sale of our old house and the purchase of our new house.

Natwest said we would have to pay the early repayment charge as it was a new mortgage. We were prepared to accept that but when i was on the phone to them a few days later about a mistake with our new address details it came up again and the adviser said it might be worth getting our broker to write a letter asking if they would waive the charge.

He did and they did.

Fair play to Natwest (and our broker), saved us a lot of money.

Whilst you got a happy ending I'm amazed your application wasn't flagged as a port, albeit non-simultaneous. Did you move onto a more preferential rate?

fewcloudy

This thread brought back (bad) memories.

I had an Abbey National mortgage back in 1998, fixed for 3 years. Family/work circumstances required me to sell up and move back to my home town a bit unexpectedly. Thankfully it happened a few months after the 3 year fix had ended, and I'd already moved on to the standard variable rate.

When the house sold and I settled up, I was hit with a penalty charge. Upon questioning this, I was pointed in the direction of the small print of the mortgage agreement. On one line there were words to the effect of "fixed rate will apply for 3 years and you'll get charged if you need to get out of it early", and on the next line it said "charges may apply for a further 3 years". Which indeed they did...

From memory the charge was 120 days interest but I would need to check that, I still have all the paperwork.

It was a nasty surprise at the time, and unlike many posts about ERC on this forum, I just was completely unaware it was coming as I'd completed the 3 year fix. Funnily enough, that was a mortgage I arranged without using a mortgage broker

Kentish_Dave

IanHunter123 wrote: »

We recently moved house and changed mortgage providers in process.

We sold our flat which was on 3 year fixed mortgage plan with Natwest. The terms and conditions stated that if we cancelled mortgage agreement before 1st April there would be a £850 charge, after this date the charge would cease to apply.

We were 9 days short of this April 1st date and so had to pay the fee. It seems incredibly harsh to charge full amount as we were so close to date where it would no longer apply.

We spoke to Natwest who said tough luck.

Does anyone know if there is a process whereby we can try to claim back any of this fee, as it's a bitter and expensive pill to swallow?

I had exactly the same situation. I ordered four large pizzas from Dominos. When they arrived I asked if I could keep them and not pay and they said no!

I explained that as they had already made and delivered them that they were not now going to lose any money but the delivery guy actually made me pay.

Do you know if there is any way I can claim back the money for these pizzas as it’s a bitter and expensive pill to swallow?

Housebuy12345

Someone I know had to pay £10k