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mortgage redemption penalties


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I noticed some chat about mortgage redemption penalties from last year, my querie is slightly different and wondered if anyone could help.

Last year i decided to purchase a new property, thus redeming my current mortage early. I went to my provider ( Alliance and Lisester) to check that i could get a mortgage which they confirmed and said they could port my current arrangement avoiding a penalty.

I went ahead and bought the new property but just prior to completion the A and L informed me that sorry they didn't lend on grade A listed buildings so i would have to redeem my mortgage. A compliant ensued and they did apologise but i still had to pay a fee of £1500. Since they were at fault and i wanted to stay with them, does anyone think i would have a chance of asking for this back?

Any thoughts appreciated

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Assuming this is an ERC, then I would probably look ultimately at a complaint to the Financial Ombudsman. That route avoids potential court costs if you lose - and certainly mortgage lenders are fighting hard over these charges.

Alan, Derby, UK.

 

 

 

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