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Where do i go from here, A&L ERC Question,


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i am just about too change my mortage to another provider, but got stung with the £295.00 early red charge, my mortage was taken out6th of may 2005, and the ruling (acording to A&L) only applies to pps who took out a mortage before 2n August 2004, so she said i cant ask for the charges back, i did find tyhe key fact document, and i did agree to pay the 295, so my question, i will have too pay it now anyway to change, but can i try and claim it back again,,,,thanks

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Hi Bogyman,


This is the admin exit fee rather than ERC which tends to be thousands rather than hundreds.


The FSAs take on exit fees is that the lenders can charge what was originally stated in the mortgage offer. Which it appears that they are charging you the original price.


In your mortgage offer or terms & conditions did they at anytime state that the charge was to reflect their administrative costs. If so you can request a breakdown of those costs to see if they can justify the 295 figure.


Have a look through the successes stickies you'll find a couple A & L claimers who had quite a speedy result.


All the best



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