Gmac Early redemtion fees

[seanski]

Hello every1 can anyone advise if you can reclaim early redemetion fees based on the follwing information .I took out a mortgage with GMAC and was given a 3yr offer which included a 12month discounted rate.Into the second year of the mortgae I had to sell the property due to financial difficulties I simply couldnt afford the payments and I sold up.Can any1 advise me if they think I have a basis of a claim .

 

regards Seanski

[zootscoot]

Hi Seanski,

 

It is still relatively early days with ERCs. There have been two payouts so far on this site one by the Halifax (my own) and one by Natwest.

 

There are several claims in the process at the moment and some involving Gmac. Have a good read through the posts. If you click on the link in my signature you will find a template prelim and LBA and particulars for MCOL.

 

The same legal principles apply to ERCs as to other bank charges. If your ERC is over 5K your claim is likely to go on the fast track and be heard in the county court so there may be enhahanced risk of paying legal costs.

 

 

All the best

 

Zoot

[seanski]

many thanks I appricaite your help.I will start the action as soon as AI get my redememtion fee confirmed.