Mortgage early redemption fees

[janesbank]

Hi

 

Approximately 4 years ago we found ourselves in about £60,000 worth of debt. We could just about afford our mortgage but could not afford to repay our debt so we made the decision to sell our house and use the equity to pay off our loans.

 

We had a mortgage with the Cheltenham and Gloucester which was fixed rate and approached them to move our mortgage to a new smaller property. We did not ask to borrow any more money we purely wanted to move the loan to another house.

 

The Cheltenham and Gloucester refused our application on the grounds that we had missed a payment date (by a few days) within the last six months. Although we were not in arreas with our mortgage C&G still refused and then charged us £3000 - £4000 (I can't remember the exact figure) in early redeption fees. We felt almost held to ransome.

 

At the time if we had not downsized we would have lost our house eventually anyway. This time was quite traumatic and we were desparate to move therfore did not have time to argue with C&G.

 

Having just discovered this site I now realise that I could still take this issue up with C&G i.e. within 6 years. I would appriciate any comments as to wheather I have grounds for a complaint or a refund of the early redemption charges.

 

Thanks

 

Janie

 

(Sorry' I think I posted in the wrong place )

[janesbank]

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