apologies to Zoot it's hard to tell with 'nick names'

Hi I'm claiming my ERC from West Bromwich......just about to send a letter before action.( taking them to court) Their is a thread on here from ZOOTSCOOT he's already got his back. for me it was reading all the threads and especially the templates libary and instructions, but just adapting it to mtge ERC. There are a few people that have been successful just read loads of stuff on here. So I don't forget where I'v read stuff I may need to use I've saved the threads in my favourites so I can just click on it and keep up to date. I've got loads but I don't loose them!!! GOOD LUCK

Abbey are still not sending stuff...... S.A.R - (Subject Access Request) sent and received by Abbey on 11th September 40 days up 20th October..... even with a reminder on the 16th of the ICO findings about microfeche, it's 30th Oct..............STILL NOTHING So I will report this to IFO

:!: Modelling redemptions fees and incentives on UK home mortgages etc.... if you go into the office of fair trading site and search oft281.pdf it will come up. This has been dated on the oft site as 08/06 Has anyone seen or read this report published in Nov 1999.....very detailed and indepth discussion and analysis document 72 pages. It discusses the way money is bought and sold to make profit, it's arguement is very complex and at the end the excel spreadsheet is explained and can be download and used (page 2). I can't download it ! It seems to say that a penalty can be deemed as fair\unfair by the oft depending on the 'answer' after the info is punched into it....the instructions are they're for the cell references seems along with the document info something you can do. We must have a mathmatical genus on this site somewhere..........help is this any good for those of us claiming our ERC back.

PM bankfodder and zootscoot.....both said go for it keep to deadlines and don't throw empty threats......what you say is what you do.....so when deadline finished off to court I go. looking at info from google uk legal , intersting stuff, talking back as far as 1996....1999 seems some people were trying before us. But can't find anyone that's won through the court.......anyone got any info apart from us on this site? knowing my luck ............... West Brom will take me all the way there......... and turn up.

I'm claiming early redemption charge from West Brom...and there not playing ball either. But I've looked for threads from other people for mortgage and bank charge reclaims from them, but can only find us!!!!

I'VE HAD A REPLY-----it seems they replied to me on the 9th Oct but I never got it. basically saying NO. But I am going to type it below and PM a MOD for help. Thank you for your letter dated 4th Oct, I do understand your concerns regarding the level of your early repayment charge. i can assure you that before we launch a product we run through many product models to ensure that- Our products are competitively priced. We do not make a loss on the transaction. If a customer repays their loan before the end of fulll term, we try to calculate a fair early repayment charge with a view to balancing the interest of our members as a whole. I can assure you that the fee that we charged was calculated on the basis that it was a genuine pre-estimate of the loss that we believed that we would incurr if a customer repaid their loan before the end of the agreed mortgage term. As indicated in previous correspondence there is no evidence to suggest that we have unduly profited from your mortgage by charging an early repayment fee. Upon examining your file, it is evident that the Society offered a selection of various products at the time that you took out our loan and you selected a fixed rate product which had an early repayment charge. The extent of that charge was clearly described in our advertising material, your mortgage offer and reference to the charge was also made in your mortgage conditions. the charge was not hidden in small print it was clearly stated, transparent and you signed to say htat you fully accepted those terms. As your acceptance of offer was signed your solicitor would have also explained the extent of the charges to you. I note with interest your reference to the Unfair Terms Act 1977 and the Unfair Terms in Consumer Contracts Regulations 1999. I cannot find any evidence to suggest any breach of those regulations or the Common law. A liquidated damage clause is based on a genuine pre-estimate of loss and I beleive that the charge was based upon a genuine pre-estimate of loss. I am sorry if I did not make this point clear in my previous letter. As indicated in my earlier correspondence an alternative is to calculate the precise cost of termination at the time of repayment using mark to market rate method. This method had beed held as unfair because it is not transparent and customers could be hit by a very high repayment charge. The Office of Fair Trading has indicated that where a loan had a fixed rate of interest of five years or less the redemption fee should be capped at five percent. For loans with a longer fixed rate, the cap will be seven percent. Against this background, I am confident that your charge is within acceptable guidelines. The Society prides its self upon offering value for money producs and services. The fixed rate that you selected provided you with significant savings over the period that you had the loan. In conclusion, I beleive that our charges are fair and justified under the current law. This is the Society's final response. However, if you remain dissatisfied with my decision, you may refer your compalint, within six months of the date of this letter to The financial Ombudsman Service. I have enclosed a leaflet.......Yours sinc Lee Cruickshank Executive Can someone give me any guidance on reclaiming ERC I'm having a panic day......."am I really going to court" more importantly CAN I WIN?

just read this "junk" can't really call it anything else I'm afraid.......I suggest the MODs delete this "C..P" I started this site a few months ago and if it wasn't for the threads, comments, answers, I wouldn't be claiming £800 barclays....£2500 West Brom ERC WELL DONE TO ALL WHO SUPPORT and READ the DETAILS that are HERE IF YOU LOOK...... what's that saying SEEK and YE SHALL FIND

ZOOTSCOOT -read your house of lords westdeutsche.........islington council not a legal eagle I'm afraid,,,,,, read the majority of it, got the bones of it I think but couldn't get to a conclusion, lots of jargon debate but does it support compound interest or is it against it.

THANKS all very useful keep it coming if there's anything else I/we need to know.

I even left it until they'd had my letter 14 days.....today's the day still not even an acknowledgement and it's done LBA being sent recorded delivery 2morrow 24th....... I'm giving them until frid 3rd 11 days and sent them LAA letter (thanks Zoot) just to remind them and also delay a bit cause I'm on holiday for 10days the following week. if nothing when I return - then off to court we go and more lovely .....££££££'s

great thanks will find out from court LBA today and counting. But I like to start getting prepared for the next step...

thanks will look at these threads just about to LBA tonight ( Ive got it on my thread) Want to make sure I position what comes next so I'll win.....prelim letter was a cracker thanks to zoot....thought I'd let them no in no uncertain terms I aint fooling around......no reply they've had it since the 9th Oct.

Does anyone know? if it goes to court does the claimant have to be there or can someone else be present and represent you.... If they can....can it be friend or family member When? or who do you have to tell ?

Just about to send LBA for ERC , with schedule of interest sent with prelim letter stated... interest would be charged at ' The official bank rate history' taken and listed from the bank of england website. (though I was being realistic and sensible) So I will need to workout compound interest on £2,518.50 from 01.10.2001 todate but the rates vary monthly or so when the BofEng changes and can be on different dates each month? eg: 04.10.01 = 4.5% 08.11.01 = 4.00% 06.02.03 = 3.75% and so on another six rate changes till now? experts out there any idea what formulaes to use or is there a spreadsheet that I could use for this??????