This topic was closed on 09 March 2019. If you have a problem which is similar to the issues raised in this topic, then please start a new thread and you will get help and support there. If you would like to post up some information which is relevant to this particular topic then please flag the issue up to the site team and the thread will be reopened. - Consumer Action Group

This topic was closed on 08 March 2019. If you have a problem which is similar to the issues raised in this topic, then please start a new thread and you will get help and support there. If you would like to post up some information which is relevant to this particular topic then please flag the issue up to the site team and the thread will be reopened. - Consumer Action Group

This topic was closed on 2019-03-08. If you have a problem which is similar to the issues raised in this topic, then please start a new thread and you will get help and support there. If you would like to post up some information which is relevant to this particular topic then please flag the issue up to the site team and the thread will be reopened. - Consumer Action Group

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This topic was closed on 03/07/19. If you have a problem which is similar to the issues raised in this topic, then please start a new thread and you will get help and support there. If you would like to post up some information which is relevant to this particular topic then please flag the issue up to the site team and the thread will be reopened. - Consumer Action Group

This topic was closed on 03/07/19. If you have a problem which is similar to the issues raised in this topic, then please start a new thread and you will get help and support there. If you would like to post up some information which is relevant to this particular topic then please flag the issue up to the site team and the thread will be reopened. - Consumer Action Group

This topic was closed on 03/07/19. If you have a problem which is similar to the issues raised in this topic, then please start a new thread and you will get help and support there. If you would like to post up some information which is relevant to this particular topic then please flag the issue up to the site team and the thread will be reopened. - Consumer Action Group

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This topic was closed on 03/06/19. If you have a problem which is similar to the issues raised in this topic, then please start a new thread and you will get help and support their. If you would like to post up some information which is relevant to this particular topic then please flag the issue up to the site team and the thread will be reopened. - Consumer Action Group

This topic was closed on 03/06/19. If you have a problem which is similar to the issues raised in this topic, then please start a new thread and you will get help and support their. If you would like to post up some information which is relevant to this particular topic then please flag the issue up to the site team and the thread will be reopened. - Consumer Action Group

BELOW MY LETTER TO PLATFORM HOME LOANS I refer to the above reference number and the early repayment charge levied against me of £3947.53 in May 2004. It has been claimed by yourselves that this payment is a result of the borrower's breach of contract, it is therefore necessary for you to show that it is a genuine pre-estimate of loss, rather than a penalty . Given the amount in question, and the fact that separate provisions are made for the recovery of your expenses, it appears that you are attempting to rely on a penalty clause, which is not enforceable in a court of law. I would therefore be grateful if you would provide me with details of how the payment sought relates to your actual loss (if any). BELOW THEIR RESPONSE Your feeling of disappoint in this matter is clearly acknowledged and I realise that your confidence in Platform Ltd may have been diminished. Platform Ltd are committed to providing you with the best service possible. I am sorry that you feel this has not happened on this occasion. As a customer you are important to us. May I start by stating that the charge is not a penalty. It is a contractual term, which was agreed by you following advice from an Independent Financial Advisor and your Soliciotr. Our understanding is that you took advice from an Independent Financial Advisor before accepting our product. The Financial Advisor was employed by you to identify the most appropriate product in the market and is not our agent. Both he and your solicitors at the time had a responsibility to make you aware of any charges applicable to your account. If you are now dissatisfied with the advice given, may I suggest you take this up with your Independent Financial Advisor. We enclose a copy of your mortgage offer; the early repayment charge is clearly stated on page 2. It is also referred to in the mortgage conditions and Tariff of Charges leaflet. It was your responsibility to read and fully understand this seeking clarification of any unclear issues before signing in acceptance of the same. Your solicitors requested redemption figures for your account in February and May 2004 both of which quoted the early repayment in monetary value. These figures are enclosed with the early repayment charge highlighted for your reference. The early repayment charge should have been queried before redemption funds were submitted. In fact payment was made unconditionally. Redemption figures were also calculated and dispatched to you in January and March 2004, both of which clearly included an early repayment charge in the breakdown of how the figure was calculated. A copy of these redemption figures with the relevant section highlighted is also enclosed for your reference. The payment of the early repayment charge was entirely voluntary. If you did not want to pay it at all you had to do was wait 4 years from inception and provide one months written notice. The terms of the mortgage were based on the mortgage running for a period of 25 years, whereas you decided to redeem after 23 months. We consider a number of items when determining the level of early repayment charge, some examples being: The revenue which we have foregone by the customer redeeming their mortgage early. Recovering some of the costs, which we have originating, funding and servicing a mortgage over I expected lifespan. We also believe it is unfair on the customer who continues with their mortgage contract to cross subsidise the costs we incur from other customers who redeem their mortgage early. You were made fully aware of any early repayment charge before you accepted our product, and you received correspondence in January and March 2004 quoting the early repayment charge applicable on redemption of your account. Additionally a letter was dispatched to you clearly stating the early repayment charge applicable upon redemption of your account. Therefore the early repayment charge stands. I will regard your complaint as closed if we do not hear from you again within 40 days of the date of this letter.

Not hijacking will start new thread tomorrow. Just to let you guys know I have sent my pre lim letter to Playform Home Loans requesting my ERC of 3.500k back. Will post new thread with more detail.

There was no confidentiality clause. Abbey wanted one but did not agree to it so it was removed. There was no fee in the end the court advised us there was which was incorrect. Anyway, a cheque for 4k was received on Saturday morning in settlement of charges applied to account.

reboot

When a Tomlin Order is filed in court is ther a fee?