Been lurking for a while, and have learnt much about default charges, and sadly that Early Repayment Charge claims are not fairing well in the court actions.
I still can't see how 4years 11 months into a 5 years tie-in a person can face a 6% ERC if the property is sold, then miraculously a month later it disappears. If this is not a penalty, I don't know what is.
Until recently I have been involved, in my spare time mostly, trying to help people facing repossession. At least every month I attend court as a "buddy" helping people fight for their homes (and have first hand experience of the dirty tactics of companies like Blemain and Preferred. Example:
- A couple in their mid-fifties had £4K savings and living life quite happily - but needing to pay £1,100 pcm mortgage and secured loan. Within 3 months the husband had a stroke and the wife a heart attack. With no income other than basic sick pay, and finding out that housing benefit won't help with mortgage interest for 9 months, they used their savings within 3 months. They were then facing repossession by month 6.
Found a buyer and they now live there as tenants paying £700 a month rent, and getting HB to cover it (though this was a battle as there can be a 5 year rule where a property was previously owned - they had to prove there was no option but sell, and the sale was not contrived).
I have been form filling and letter writing for this couple to get back the default charges and "debt management fees" which, in 8 months came to over £3,500.
My wife and I between us earn around £20K so we are not affluent, and live relatively simple lives. However we do have the benefit through family money of owning a few properties that give us some positive income and will form our pensions when we retire. We therefore regard ourselves as very fortunate, and so try and help those in difficulties - especially as this country seems plagued by "suits" dreaming up scheme after scheme to fleece ordinary individuals.
I Don't Have a Problem 
