Paul v Accord

[alisonf]

Sometimes walking away is harder than staying to fight, your doing the right thing Paul.

 

Thank you for all your help and advice and Good luck!

[gizmo111]

You are doing the right thing Paul - I hope you get out of it with a no costs agreement.

[paulpb123]

Hi Zoot, Gizmo, Dolly, Alisonf, Ellielou, Jmorgan, MF, UK, Biffa, Les, Charbyd (and anyone I've forgotten),

Accord have agreed to no costs if we withdraw the claim. Thank you all, my lovelies, for all your help. I still think this forum is the friendliest. When I get B/Card and N/West to cough up I'll send money to you Jmorgan and MF and Charbydis. Could you open Paypal accounts? All good wishes,

Paul

[biffa1965]

Paul glad you got out without the costs. My current mortgage is with accord just hopin i dont fall foul of em !...best of luck and keep in touch mate......biffa

[gizmo111]

Great stuff Paul - very pleased for you

 

- looks like just Mortgage Express that are holding out for costs then.

[zootscoot]

Good news Paul!

[ellielou]

Nothing ventured nothing gained eh Paul?

I think you've made the right decision.

Glad you've managed to get out of it without having to foot thier costs.

[paulpb123]

Thanks as usual to everyone for the great support here. Although Accord were very quick to send the Consent Order regarding no costs and the claim being withdrawn...we have not signed anything yet. I'm getting the impression, from what Zoot has said on a few threads, that these ERC cases are NOT without merit after all. We're very reluctant to pull out. Zoot, I know you've been working hard on the ERC question and looking at case histories etc. So, is it still the advice that we should just pull out? Or are things changing?

Paul

[zootscoot]

I think its always going to be too risky in Fast Track Paul.

 

Much will come down to the circumstances of individual cases, how well you can argue your case and how sympathetic the judge is. The judge is always going to be mindful of the implications of a win so it may be that no matter how forceful the arguments the judge will say no.

 

Had it been small claims I would love to tell you to carry on and ultimately the decision is yours. But if it was me I wouldn't continue.

 

All the best

 

Zoot

[paulpb123]

Thanks Zoot. I'll be sending off the Consent Order in the morning then...and joining the REVENGE 2007 campaign.

[mochamoo]

Good stuff Paul no costs, I was worried you might get stung. But the futures bright!

[paulpb123]

It certainly is bright, and we're not finished yet, not by a very long way. Keep the faith folks.

[mochamoo]

Paul,

 

Is there a letter on here for rebecca (http://www.consumeractiongroup.co.uk/forum/newreply.php?do=newreply&noquote=1&p=586590 )

to send to the mortgage company? Ive searched, Karnevil posted one but its vanished!!

 

How did you with draw yours?

[paulpb123]

Hi Mochamoo,

We tried negotiating but by that time it was too late and they'd obviously got wind. They said Accord are not prepared to negotiate. So we sent a simple email to their solicitors saying we'd withdraw the claim on the understanding that we would not incur any of their costs. They agreed and sent us a Consent Order to sign and send to the court. It had 2 conditions: 1) The claim is herewith dismissed 2) Each party to bear their own costs.

Better times to come!

Paul

[Les Gunn]

Hi Paul,

 

Like all of us who spent DAYS not hours working on these cases, we've not lost anything - this is just the beginning of the road to change.

 

Thank you for your help previously - by sticking together, we'll make the Mortgage companies sit up and listen over time.

 

[paulpb123]

I've just posted the Consent Order to the court, so that's it...for now;-) This is very much unfinished business so watch this space...

Paul

[ukaviator]

We will regroup and fight again soon. We have learnt a lot from the other cases.

 

Uk

[vikkijarda]

Hi Paul

 

I'm another victim of Accord with an ERC of £7344, Arrangement Fee of £695 and an Admin Fee of £50. Do you think there a chance of getting any of this back?

[paulpb123]

I certainly do Vikkijarda...but not just yet. Wait for news.

Paul

[lellypea]

waiting is the name of the game ....but it is only a matter of time.

We owe such a lot to Morgy, Marroonfox, et al for the opportunity to forge a secure path at their expense.

 

Can't wait for pay back time...

 

lel

[vikkijarda]

Hi folks, just hought I would let you know that I spoke with a District Judge today about ERC and guess what it's happened to him to. He said how can they possibly justify these charges. He said the matter seriously needs looking into from a legal point of view. He said if a case is brought before him he would certainly not rule in the favour of the mortgage comapny. He said he is certain other Judges feel the same as he is sure a lot of them like him have or want to pay off thier mortages early. He advised me to read up on this and prepare my case thoroughly, he the the Financial Times have articles relating to this subject on the internet. Incidentally he is looking at getting his daughters Bank charges back. I think they may pay up quickly with letters signed in the name of

Judge ---- . I can't mention his name or location for obvious reasons.

But hell I think this is good news.

[half ax I]

Paul

 

Glad you managed to withdraw without getting stung for costs. I was waiting on your result before going in with daughter's £6k as mentioned earlier in your thread. I take it that you will review your position in the future and have a another go if possible.

 

If it helps I have a letter from Accord that states:-

 

"The Early Repayment Charge is a penalty for redeeming the mortgage account whilst been (sic) on the x.xx% Fixed until [date] which you were on. The Early Repayment Charges for the above product were worked out at 5% of the total balance outstanding."

 

They have stated it was a penalty. Haven't started a claim for ERC but did question their maths which is what generated this response.

[paulpb123]

Hi Half Ax I,

The way I see it is that we need to find a way around the argument that there was no breach of contract. At the moment, as far as I can see, when we redeem early, this is not a breach but merely the exercising of a right under the terms of the contract. It clearly states in our contract with Accord that we CAN redeem early BUT there will be a charge of 6% in yr 1 and so on. It certainly seems very unfair and none of the mortgage companies have been prepared to justify these charges. But they don't need to...yet. And even if Accord are calling it a penalty, it makes no difference unless there has been a breach. I still feel optimistic that things are going to change. What I don't understand is why the OFT are getting tough on mortgage exit fees (which are a few hundred pounds) and ignoring ERCs (which are, as we all know, thousands). Let's hope they get on the case. Until something changes the wait goes on...It might help if everyone signs the petition in Zoot's sig.

Paul

[Koos]

Good evening,

 

Sorry if I hijack this post. But I think is most relevant to post here with all the experts around!

 

We are going to pay Accord an £5900 ERC on Friday. We only have 2 months on the deal left. We have tried everything from porting the mortgage to moving it to another property but all Accord see is an easy £6k.

 

Do you think it could work if offer to pay them all the interest till the deal ends in return for my ERC? The 2months interest will be around £1000 and I think that will be a fair deal? Or could I take them to the small claim court for £5900 minus the interest which will make bring total under £5k?

 

Thanks for your help!

[half ax I]

Koos

 

You would be better starting your own thread under the http://www.consumeractiongroup.co.uk/forum/mortgage-companies/ forum. Why not copy & paste your question into a new one and we can reply there. Send me a PM when you have your own thread and I will visit. I'm sure Paul will too.

 

S