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Nicola's complaint against Halifax

Nicola Winbow


Redemption Figure Wording

Complaint against Halifax

We are moving house and are taking out a new mortgage with a different provider and therefore will be looking to repay our current mortgage with the Halifax. The Halifax mortgage is on a fixed rate 2 year deal with an end date of 31.08.2016. The redemption statement we have received via our solicitor shows the following: "If you are completing a simultaneous sale and purchase with us and are porting any of the products in the table above, or a product has an ‘ERC End date’ which is within three months of the redemption date you may reduce the TOTAL by the corresponding ERC in the table. In all other circumstances any ERC must be paid and will be refunded if appropriate." This to me reads as the ERC does not apply if within 3 months of the end date (the period of which we are already in), however I have queried this with 2 agents at the Halifax as the redemption statement we have received shows an ERC of £1959.59 which is 2% of the outstanding mortgage balance. Both Halifax agents have advised me that the ERC does in fact apply if we are not staying with the Halifax, even if within 3 months. My argument with them has been that this is not what the statement says and that the wording on the redemption statement does not make this clear. The situation we are left with is that the Halifax are standing firm on wanting the ERC paid if we do not stay with them.

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