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Hi FG, the general advice at the moment is not to claim erc,s, due to MF5's loss, until a stategy is devised.
Ashley quote
When you entered into this bargain, your mortgage company asked you in return for the bargain to give it a minimum amount of time you would trade with them, and they also said, in the event you leave before x date you will do x, the ERC. This was not hidden and you entered freely into this agreement with your eyes open.
Ash, I disagree, the fact is that those people with ccj's or defaults, have had the privalige of choice removed due to financial hick ups, is manufactured by the mortgage companies, with ccj's or a default, it is impossible to get a mortgage without an erc, and a decent interest rate, surely the risk to the mortgage company has been compensated by the inflated interest rate and exit fees on debitors with a bad credit report?
The fact that I may find a better deal with another company, should allow me to terminate the standard form contract by giving a period of notice. The fact that I am punished by a Mortgage company for bettering my financial well being would amount to a penalty, and the fact that their agreement/contract put themselves in a position of control, I beleive would amount to discuised penalties.
Ashley quote
When you entered into this bargain, your mortgage company asked you in return for the bargain to give it a minimum amount of time you would trade with them, and they also said, in the event you leave before x date you will do x, the ERC. This was not hidden and you entered freely into this agreement with your eyes open.
Ash, I disagree, the fact is that those people with ccj's or defaults, have had the privalige of choice removed due to financial hick ups, is manufactured by the mortgage companies, with ccj's or a default, it is impossible to get a mortgage without an erc, and a decent interest rate, surely the risk to the mortgage company has been compensated by the inflated interest rate and exit fees on debitors with a bad credit report?
The fact that I may find a better deal with another company, should allow me to terminate the standard form contract by giving a period of notice. The fact that I am punished by a Mortgage company for bettering my financial well being would amount to a penalty, and the fact that their agreement/contract put themselves in a position of control, I beleive would amount to discuised penalties.
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