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This is just a prelim enquiry about possibilities.
I had a mortgage with these people that I switched from 2 years ago. It was not with them through choice, but the chosen lender let me down at the last minute on a minor technicality that they introduced, after the valuation was done and the papers ready to sign. The result of this was that I was left on the point of financial collapse and the only way to save it was to go with a company that were very fast. GMAC did this quickly, but it meant a longer tie-in at a higher rate.
Anyway, I had only one missed payment with GMAC when a planned remortgage didn't happen, so they took the DD fee of £30 and charged £50pm for 3 months till it was sorted.
However, when they account was finally cleared, they had a charge of one months mortgage payment if you didn't give them one months notice in writing of the planned date of transfer. This was never made very clear, and was difficult to time. When the transfer was fixed it was then just too late to give the month, though another delay meant that I could have done had I known.
The result of this is that I was charged at settlement a whole extra month just because of this minor point in the small print. It was not an ERC because the full term had passed - it was just an opportunist charge.
I've never read any other thread about this, but presume that this is a penalty that can be reclaimed? I would hope to submit a claim for this along with the other charges mentioned.
Any ideas anyone?
I had a mortgage with these people that I switched from 2 years ago. It was not with them through choice, but the chosen lender let me down at the last minute on a minor technicality that they introduced, after the valuation was done and the papers ready to sign. The result of this was that I was left on the point of financial collapse and the only way to save it was to go with a company that were very fast. GMAC did this quickly, but it meant a longer tie-in at a higher rate.
Anyway, I had only one missed payment with GMAC when a planned remortgage didn't happen, so they took the DD fee of £30 and charged £50pm for 3 months till it was sorted.
However, when they account was finally cleared, they had a charge of one months mortgage payment if you didn't give them one months notice in writing of the planned date of transfer. This was never made very clear, and was difficult to time. When the transfer was fixed it was then just too late to give the month, though another delay meant that I could have done had I known.
The result of this is that I was charged at settlement a whole extra month just because of this minor point in the small print. It was not an ERC because the full term had passed - it was just an opportunist charge.
I've never read any other thread about this, but presume that this is a penalty that can be reclaimed? I would hope to submit a claim for this along with the other charges mentioned.
Any ideas anyone?
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