Signing VT notification letter

[Amethyst]

Seen a few threads that VT has been refused due to not having signed the letter - I know there's no legal requirement to sign the letter - however is there actually a reason NOT to sign the letter - surely if it smooths the path through VT'ing that little bit it'd be sensible ?

[R0b]

You are right, there is no requirement to sign the letter but there could be an unintended consequence. For example, if the hirer gives notice to terminate but the lender then doesn't respond until 3 weeks later and says that the notice is rejected on the basis that the letter isn't signed and in order to process the agreement they must provide a signed letter, it could be that by that time, an instalment is due by the hirer and if the hirer complies with that request, it might be argued that the previous notice was not satisfactory and termination only took place from the date the signed letter was received. thus, a lender might argue that an instalment is due and so it must be paid.

Of course if there is no risk to the hirer then of course it might be much easier to simply sign and re-send the letter so I take your point on that. But on a point of principle, there isn't any specific requirement to do so and lenders perhaps could be using this to their advantage to delay the termination process without any real justification, so why should the hirer have to comply with the lender's demands?

Play them at their own game I say, but that's just me.

[Amethyst]

Thanks R0b.... Are people not signing their original letters for a reason ? That would sort out the 'next installment' issue I think - if the original termination letter was signed? Or is it just a practical thing of emailing letters rather than using the post ?

Just wondering if we should say, in the original VT letter, ''save yourself some potential ballache later and sign the letter'' ( as it were )

[R0b]

I agree and have no issue with those who want to sign the letter in the first instance as I don't think it will have any real impact but that's not usually the problem. The problem tends to lie in lenders trying to demand a signature to their VT documents (RCI, Barclays are common culprits). It's only then do they suggest that a signature is required for "verification" purposes but I don't think that washes and there's no real justification as far as I can see for requiring a signature since there's other means of verification.

Some lenders like Moneyway appear to be using stall tactics by asking for the letter to be signed and other requirements too, not sure why because the template letter is sufficiently drafted to let the lender know what the hirer is seeking to achieve.

Personally, I never sign my letters unless it's actually required. Maybe I'm in the minority class on that one but I just tend to print my name and that's it.

Edit: I'm in the process (when I get round to it) of adding in some commonly asked questions to the guide such as when to cancel the direct debit so I'll add this to the list too.