abbey - ERC's - reply to LBA

[boltonangel]

hi

 

am i able to claim early repayment charges back from the abbey, these were incurred when i swapped my mtge to another provider, and totalled £2000!!!

 

pls help either way.

 

[boltonangel]

pls could you also let me know if there is a template letter for this?

 

 

thank you

[boltonangel]

has anyone received any of the erc back from their mtge provider?

[dolly]

Not yet but there are a few of us trying.

[boltonangel]

has anyone succesfully reclaimed their erc's?

[boltonangel]

take that as a no!

[dolly]

Read around and you will find the answer to your question.

Plenty of people have asked the same thing and cases are well documented.

[boltonangel]

hi

 

i have rec'd a reply to my abbey lba today - basically saying sod off and enclosing the t+c's of the contract.

 

do i take them to court - the early repayment charge is £2000, so i anticipate a large moneyclaim fee if i lose.

 

i had a 5 yr fixed rate deal - and pulled out after 1-2 yrs, mtge rates had gone up since i took my mtge out - so i can't see how they lost out at all.

 

what do you guys think i should do?

[sammyjammy]

Thats the same as mine, moneyclaim fee is £120, mine should have gone in on Monday but I'm going to have to wait a couple of weeks.

 

Sam

[Guest Niklowe]

I would carry on if I were you. The T & C bit is what they always say to claimants in the hope that it will frighten off people at an early stage.

 

It's up to you in the end though. Weigh up the almost certainty of getting your £2000 back or the very slim chance of losing £120.

[GraemeC]

errr....Abbey arent gettingt this - the T&C's are the point!

 

You agreed to the T's & C's, but the ERC term will be unenforcable if the ERC represents a penalty rather than a genuine estimate of their losses.

 

If you take them to court, it will be up to them to provide evidence which proves the ERC is a genuine pre-estimate of the losses they sustained by your breach of contract - something its very unlikely they will be able to do.

 

I'd suggest you Read Zootscoot's thread from start to finish -this should give you a good understanding of what it is your are going to argue should it get to court and why Abbey's reply is total rubbish (my girlfriends ex-mortgage company actually replied stating that her ERC was applied for breach of contract - really, really dumb of them)

[Les Gunn]

Hi boltonangel,

 

They haven't explained their genuine losses to you at all, instead (as usual) furnished you with all the t's and c's bollox and that you knew about these when you signed up! Ah yeah, but you didn't know how much profit they made from your ERC do you??!!!

 

Go to MCOL - you can only lose £120 - it's worth every penny!

 

Good Luck

[boltonangel]

thanks for all the advice.

 

i'm going to go through MCOL, just one really stupid question -

 

if i lose the case do i only lose the MCOL fee, or do i have to pay the Abbeys costs too.

 

sarah

[zootscoot]

If its under 5K it will go to the small claims court and they can not claim their legal costs.

 

Best of luck

 

Zoot

[GraemeC]

its less than £5k, so it will be allocated to the small claims track - you will only have to pay the £120 (which you'll get back when you win)

 

You cannot be liable for Abbey's costs on the small claims track

[lickthewallfatboy]

MCOL is your friend.....

 

go for it