~~~**IMPORTANT** Mortgage Claimants ~ PLEASE READ ~~

[Will Scarlet]

A very interesting thread...this was never going to be easy and in fairness, the mortgage companies legal teams have now achieved exactly what they set out to do. I'm sure they will be reading this with smug grins on their faces. It just goes to show that if you want to play with the big boys you HAVE to know exactly what you are doing. This is not a game, this is legal action against a multi-billion pound industry. Of course they're going to fight back and unless you've spent the last 30 years in a court-room learning all of the tricks of the trade you will be like a lamb to the slaughter. Tread carefully my friends, the consequences could be huge.

[Will Scarlet]

I haven't had a nose through this thread for a while but thought I would post with an update. I had a barrister do some research for me on the ERC issue and, without going into too much detail as it was a 24 page report, it would appear that based on his findings these claims are dead in the water. Whilst I appreciate this message has been broadcasted loud and clear on the CAG site for a couple of months now it's always nice to have a second opinion. Sorry not to have better news.

[Will Scarlet]

Zoot - PM me with a fax number.

[Will Scarlet]

Different Breach the erc is to compensate them if you at your wish redeem early. If there is a court order fro you to sell your house or if there actions cause you to sell to avaid repossession then they cant have it both ways I am going to get advice and will let you know what happens

 

Bona - re-possession is a very different situation to the one I was researching so I'm afraid I don't know the answer. I was looking at fairly straight forward ERC cases.

[Will Scarlet]

Vik - a recent report written by a barrister said that, on the basis a mortgage transaction is completed through a solicitor and you did not mention at completion that you were not happy about the ERC and that you were only paying it under duress, then you don't really stand a chance in court. I, like many others, have backed away from this one.

[Will Scarlet]

nz1313 - if you would like to see a copy of the barristers report PM me with a fax number or postal address and I will happily send it to you. I was looking at ERC's as a potential "product" for a CMC but, on receipt of the report (which I commissioned) I decided to back-off as the majority of people pay ERC's without contention and were then trying to make a retrospective claim. Your case appears, on face value, to be somewhat different. How far down the court line are you? Is this something you could take to the FOS instead? There are obvious pitfalls with taking this through the courts (defendants costs for a start) and the FOS is a free service to consumers. It could be worth considering.

[Will Scarlet]

Wow, that sounds amazing. Is that a judgement by default or did you argue the matter in court?

[Will Scarlet]

Just thought that I'd drop a quick message to let you know that the court has entered judgement in my favour against the Halifax for a £4K Early Repayment Penalty and the £175 administration fee, plus interest.

 

Halifax have played their usual games throughout, and still remain adament that they will not pay in full before the 31st July and that they may exercise their right to appeal.

 

I'll keep everyone informed of my progress!

 

Any progress???