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Claiming back early repayment charge
emilyjw
Posts: 8 Forumite
We have been stuck in the premier property lawyer hell of transactions. We are completing on Friday but they still think we need to pay an early repayment charge even though we are fully porting. We're running out of time to argue, but wondered if anyone knows whether we will get the money back from Halifax or the conveyancers?
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Comments
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Surely if you're porting and Halifax have agreed this then it'll be reflected in their redemption figure/statement - or have things changed since I last did this ?0
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That's what we hoped, but it's showing. It sounds like a box needed to be checked that wasn't or something like that. Have had different responses from Halifax as well, with one lady saying yes you pay then it gets refunded and another saying we shouldn't have to pay it....0
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I was told by my bank that anything you overpay at completion would be refunded back to you. Its very unlikely they would keep the ERC payment if it is not due. You could easily argue it and get it back.0
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I'd pay and reclaim from Halifax. It will be the easier option to sort with justvyou and Halifax.Make sure any completion statement you get shows it was paid though.May you find your sister soon Helli.
Sleep well.0 -
When was the redemption statement issued?0
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We had the same - via Natwest. We paid the redemption penalty on completion of the sale, and 2 days later the refund turned up in my bank account. My solicitor said that this happens in the event that your sale happens and you decide at the last seconds to pull out of your purchase.
I think there is a time window as well, so as long as you complete on the purchase within that period you will get the redemption penalty back.
It is a huge 'ouch' moment though! Very relieved when the money came back.0 -
Hopefully ours will only be a couple of days, definitely an ouch moment!0
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