Hi everyone Am new to this and wasn't sure how to start my own thread so really sorry for jumping on yours! My question is about ERC's as is everyone else's and we too have fallen prey to Kensington Vultures! Well we have a suspended possession order over our house and are in the final processes of selling it due to this and the fact that our interest rate has gone from 6.4% to 9.2% in 2 and a half years. We are due to come out of our tie-in period in Oct this year but with a payment of £2463 per month hanging over our heads we really cannot afford to stay and have been forced into the sale ( KEnsington would not agree to anything less than an additional £800 per month on our mortgage payment- then the rate went up 3 times in as many months!) We are loathed to pay the £12,000 redemption figure to get out of this and really have no choice. I have spent some time scouring all the posts about ERC's with possession orders and does anybody know yet whether they are negotiable in this situation? Also has anyone managed to negotiate a lesser figure before completion? We have calculated that if we were to come out of our mortgage in 6 months time we would only have to pay £1451/ There is only 6 months left on the mortage which by my calculations should mean that we have to pay £8706 if we continued with our normal monthly mortage payments. How then can they justiify the £12,000? Their losses would surely be the smaller figure as this is all that is left on our mortgage. Also with our rate rising by 3% in just over 2 years surely would mean that they are making a lot of money on their original borrowings? How can they justify this and does anyone have an clarityover whether repossessed properties have to pay the ERC? Sorry to go on....any help much appreciated guys!