Getting an ERC Cancelled

**amethystdragon** · 27th November 2006 14:04

This may be slightly off the wall but we currently have our mortgage icon

with Platform who of course are charging us an extortionate rate - we have been with them for 2 years and have a 4% ERC against us for atleast another year

If we could get a cheaper mortgage icon

now - it would mean alot with regards to our monthly outgoings

Has anyone tried to get their ERC cancelled before they change their mortgage rather than after they have paid it ?

We may not be able to get another mortgage but I'd like to be able to have the choice rather than being locked into this punitive rate of interest icon

for much longer

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**zootscoot** · 28th November 2006 01:00

Sarounia managed to get hers cancelled when moving house. Although she had her solicitor involved and I can't remember which company it was with.

It can be tricky trying to get it cancelled because they can refuse to terminate the mortgage icon

until it is paid which could hold things up on the remortgage. The only other option is to pay up and then claim it back, although this would mean having to borrow more than you otherwise would.

You can always write and ask them to cancel it and state your intention to claimit back through the courts if you are forced to pay it. That way if you have given the 28 days notice with the prelim and then follow this up with an lba icon

. That way as soon as you pay the fee you will be in a position to issue a claim.

Hope this helps

Zoot

**amethystdragon** · 28th November 2006 10:40

Thanks - that sort of confirms my thinking - I'll start looking into changing our mortgage icon

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