GE Money Breach of Contract

**scoobydoo** · 17th November 2008, 20:16:PM

Re: GE Money Breach of Contract

Hi and welcome.

You are right this is very worrying. As far as I know this is a common clause. I have that on my own Mtg with YBS . There are early payment redemption charges for 5 years ( reducing each year) but the mortgage is transferrable to another house and the penalties would not be repayable in that case

Is it possible for you to scan the original agreement and also do you have their refusal in writing?

My initial reaction is there is some kind of clause which would make this an unfair term as there is probably no way you would have entered into the contract if there was any way you thought they would withdraw the clause.

But I am not an expert in that area and I am sure there will be others posting with maybe some more info.

I would also be writing to them asking for a copy of their complaints proceedure for reference.
------------------------------- merged -------------------------------
By the way if you scan and post the documents remove your personal details!

thanks

**prorsum** · 17th November 2008, 22:11:PM

Re: GE Money Breach of Contract

Thanks for the quick reply, I have all the details at the office but will post more information tomorrow. I have already gone down the official complaint procedure when i was trying to get a response from GE. The issue has been further complicated by the fact that their is also a mortgage broker involved in the original transaction and GE tell me that they do not speak with clients directley and that i need to speak to the broker and the broker then tells me i need to speak to GE :-( I also think that the portability terms of the deal were a one off so no one at GE really understands the deal struture.

**scoobydoo** · 18th November 2008, 13:00:PM

Re: GE Money Breach of Contract

I did not even know that GE money did mortgages and I am not sure if they operate by the banking code. which is why it is quite important to find original correspondence and also any leaflets they may have given you.

If you are being passed between the broker and GE - just address everything to GE as that is who the contract is with and copy everything to the Broker . Sounds like you are well organised but obviously try and keep dealing in writing and keep your file well organised. When you post up your documents we will get someone with some more legal knowledge to look at them or point you in the right direction.

Scooby

**Dougal16T** · 18th November 2008, 14:22:PM

Re: GE Money Breach of Contract

Good afternoon all,

My limited knowledge of this is that GE did/does not offer mortgages per se, but has 'bought into' the mortgage market. I know because I had a mortgage with the 'I Group' and then they wrote and told me that the mortgage had been assigned to GE Money, and from thereon everything I have received has been from GE Money, but my original agreement was of course with the 'I Group.'

I say this, that if the terms of the assignment change the original terms of the contract with GE Money, then I feel that the assignment may be invalid, if the contract terms have been changed without the consent of both parties.

Am I being silly?......answers on a postcard.....

Kind regards as always

Dougal
(he's due for a bath and haircut next week......!!!!):bathbaby:

**prorsum** · 18th November 2008, 16:45:PM

Re: GE Money Breach of Contract

Thank you all for your comments and replies so far, It is really appreciated.

Below is a little more information and then the email correspondence I have had with the various parties involved.

We originally approached a company called Maxim Mortgage Solutions to arrange a mortgage for us. It appears they then used a second company who I do not believe they are associated with called Formula Mortgages. The offer paperwork comes from a company called igroup which is a trading style of GE Money Home Lending. From then on all paperwork is headed up GE Money Home Lending.

Now looking at the original offer which was made on the 21/02/2007 under a section headed What happens if you move house? It states the mortgage is not transferable to another property. Should you wish to move house in the future you should contact us at the time for further information and to discuss how we may be able to help you.

However this was not what was agreed at the outset and hopefully you will see this from all the email correspondence below.

Trying to get replies from either the original broker or GE Money has been like “Hens Teeth”. I did make a formal complaint to GE to try to get the situation resolved and received a 1 line email back from them, highlighted below. I threaten to take the issue to the FSA but as yet have not done this due to the time I think they will take to resolve the matter.

I basically see the situation as follows, a “Portable Mortage” was agreed by the mortgage broker,& GE Money with myself (and my lovely wife). I believe the terms of a portable mortage to be - "A mortgage which allows you to transfer the existing amount and terms of your mortgage over to a new property without penalty." Now it appears that the offer of this portable mortgage was not well thought out and when it came down to trying to apply the portability GE actually change their minds as the market had changes some what and said actually we are going to end this mortgage but we will give you a new mortgage as long as you fit our current criteria and if you do then we will refund your redemption penalties.

Well that is not what was agreed in the beginning but if GE do not want to honour the deal then fine I will happily get a mortgage from another lender but they are not going to keep £40,000 in redemption penalties plus interest……….. or are they?

Email Trail from the begining ....

I am Prorsum, Andrew Leschallas was the broker at Maxim Mortgages, Craig Muttitt is the MD of Maxim Mortages, Fiona Hall is the MD of Formula Mortgages and Martin Porter is the GE Money underwriter.

My emails sent are coloured in Blue, Black is emails I have received

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From: Prorsum
Sent: 29 May 2007 09:24
To: Andrew Leschallas
Subject: RE: Refund

Hi Andrew, I hope you had a good weekend despite the crap weather.
We are thinking about moving and possibly downsizing.
What would be the smallest loan to value % that the mortgage company would accept on our mortgage?
----------------------------------------------------------------------------------------------------------------------------
From: Andrew Leschallas [mailto:a.leschallas@maxim-mortgages.co.uk]
Sent: 29 May 2007 13:38
To: Prorsum
Subject: RE: Refund

As you know, we managed to get GE Money to accept your mortgage with the condition that you could port it to another property. However, if you downsize and reduce the size of the mortgage, you will pay 7% of the amount you pay off in penalties, within the first year, or 6% in years 2 and 3. Can you give me an idea of how much you would be looking at paying for a house if you downsized? Presumably you would want to reduce your mortgage as well with some of the equity you have currently.There is no minimum Loan to Value, just a minimum loan amount, which tends to be around £26,000. You must be aware of the fact that you will pay penalties if you reduce your current mortgage amount if you port it to another property. I hope I understood your question properly! Does this help??!!

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From: Andrew Leschallas [mailto:a.leschallas@maxim-mortgages.co.uk]
Sent: 25 June 2007 14:52
To: prorsum
Cc: fiona.hall@formulamortgages.co.uk
Subject: RE: Information

Hi P,The problem I think that we have with this, is that the portability aspect of this product was a concession made specifically to your mortgage. As such, Fiona Hall from Formula Mortgages has been trying to speak to the 'powers that be' at Igroup to find out a) what the maximum LTV would be with such a large loan if you were to downsize your property and b) whether there is the facility for you to still port the mortgage even if there is a month or two in between selling your current property and completing on the new property. I know she has been struggling, but have copied her into this e-mail so she can contact you directly once she has managed to speak to someone. Sorry that is is taking so long.Kind regardsAndrew

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>From: Fiona Hall [mailto:fiona.hall@formulamortgages.co.uk]
>Sent: 14 August 2007 14:15
>To: Porter, Martin (GE Money)
>Subject: Prorsum, REF xxxxxx
>
>Hi Martin,
>
>This was a case that completed 8/3/07. We agreed at the time that the
>deal would be portable should the client wish to move house within the
>redemption period.
>
>Please see below information that the client is looking for as he
>wishes to move. Could you have a look and come back to me ?
>
>Many thanks,
>
>Fiona Hall
>Managing Director
>
>Formula Mortgages Ltd
>Dukeswood House
>74 / 76 Peascod Street
>Windsor
>Berkshire
>SL4 1DH
>
>Office : 01753 833228
>Mobile : 07703 254251
>
>Registered in England and Wales, Company Number 04277735 .
>Registered office 8 / 10 South Street, Epsom, Surrey KT17 7PF.

----------------------------------------------------------------------------------------------------------------------------
>From: "Fiona Hall" <fiona.hall@formulamortgages.co.uk>
>To: Prorsum
>Subject: REF xxxxxxx
>Date: Thu, 6 Sep 2007 09:38:27 +0100
>
>Not here this afternoon but response from martin at last !!
>
>Fiona Hall
>Managing Director
>
>Formula Mortgages Ltd
>Dukeswood House
>74 / 76 Peascod Street
>Windsor
>Berkshire
>SL4 1DH

>From: Porter, Martin (GE Money) [mailto:Martin.Porter@ge.com]
>Sent: 05 September 2007 17:33
>To: Fiona Hall
>Subject: RE: xxxxxxx
>
>As I assume he needs a different amount therefore cant really "port".
>However can do nil ERC provided simultaneous sale and purchase. Would
>do 75% on property value of £780. If there was a gap between sale and
>purchase we would refund the ERC provided applicant took out a nwew
>mortgage within
>6 months.
>
>Sorry re delay been away

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From: Prorsum
Sent: 28 March 2008 13:26
To: Craig Muttitt
Subject: Ref xxxxx

HI Craig,

It has been little while since we last spoke.

We have now sold our property and are looking to purchase another property for around £xxxxx

Further to the correspondence below, if we do a back to back sale and purchase can you confirm that there is no redemption penalties and the mortgage company GE will lend up to 75% of the purchase price.

I am waiting to find out if our offer has been successful. Assuming it is what would be the next steps in arranging the mortgage on the new property?

Kind regards,

----------------------------------------------------------------------------------------------------------------------------
From: Craig Muttitt [mailto:craig.muttitt@maxim-mortgages.co.uk]
Sent: 31 March 2008 09:06
To: Prorsum
Cc: fiona.hall@formulamortgages.co.uk
Subject: REF xxxxxxx

Hi Paul,

Good to hear from you again. Regarding the below: due to the time period that has lapsed, current market conditions and the fact that so many lenders in this market have restricted their lending criteria I am unable to confirm that there is no redemption penalties and the mortgage company GE will lend up to 75% of the purchase price. The only person who can indeed confirm this for you would be Martin Porter at GE who I believe you have contacted before.

Let me know whether or not your offer is successful and we can see how to progress this for you.

Regards

Craig Muttitt
Maxim Mortgage Solutions Ltd
Managing Director
01753 833 275

----------------------------------------------------------------------------------------------------------------------------
From: Prorsum
Sent: 04 June 2008 17:41
To: Porter, Martin (GE Money)
Subject: xxxxx

Hi Martin,
Our property has now been sold and the mortgage funds returned while we look for another property.
Who do I need to talk to at your end with regard to the new property and the subsequent mortgage.

P

----------------------------------------------------------------------------------------------------------------------------
From: Porter, Martin (GE Money) [mailto:Martin.Porter@ge.com]
Sent: 30 June 2008 12:28
To: prorsum
Subject: xxxx

We only deal through intermediaries so best route is through Formula
----------------------------------------------------------------------------------------------------------------------------

Arrrrrrggggggggg!!!!!! J This bit was added by me it is not in the email
----------------------------------------------------------------------------------------------------------------------------

From: prorsum
Sent: 08 July 2008 18:47
To: 'Fiona Hall'; 'Craig Muttitt'
Cc: Porter, Martin (GE Money)
Subject: xxxx

With the exception of the brief email, I have nothing in writing from any company with regard to the terms and conditions of this portable mortgage which we were sold.
Martin, can you please elaborate on your email and send to me or to Craig confirmation of your email so that I have something in writing from GE stating the exact terms, so that when we apply for the portable mortgage on the second property, the terms are clear and that no further arrangement fees are due with the exception of a valuation.
At present I do not feel that the email is enough on the basis that GE are writing to me as if the mortgage has been closed and that there are no further facilities. I am trying to clarify everything now so that the next stage of the process is clear. I do not want to be in a position when I have an offer accepted on a property but it falls through because no one at GE can put the mortgage together.
Many thanks,

P
----------------------------------------------------------------------------------------------------------------------------
From: Porter, Martin (GE Money) [mailto:Martin.Porter@ge.com]
Sent: 09 July 2008 09:48
To: prorsum; Fiona Hall; Craig Muttitt
Subject: xxxxxx

My agreement was as per the email - I would waive the ERC's on that mortgage provided you took out a new mortgage within 6 months. Any other fees are still applicable on a new mortgage. This agreement was based on the fact that you were likely to sell the original security within a short period so we amended the normal conditions of our mortgages. If you successfully take out a new mortgage in the above timescale we will refund the ERC you have been charged.
As mentioned we only accept applications from introducers and on our current criteria. I mention this because as you are probably aware the market is changing rapidly and I am not privy to your current circumstances or type of new security you are offering. Both Formula and Maxim are aware of our current lending criteria

----------------------------------------------------------------------------------------------------------------------------
From: prorsum
Sent: 20 July 2008 16:43
To: 'Craig Muttitt'
Cc: 'Porter, Martin (GE Money)'; 'Fiona Hall'
Subject: xxxxxx

Dear Craig,

you previously wrote

The terms should not have changed between what was confirmed by the lender in September '07 and now

From the email correspondence you have been copied in on you will see that according to Martin Porter from GE the mortgage company is trying to change the original terms of the portable mortgage which your company sold to me. The original LTV figure for the mortgage was 75% and GE Money are now saying that they will not honour this.
This is not acceptable business practise. You can not change the agreed terms of a mortgage half way through just because the market has changed.
I did fear this would happen though given my experience trying to get all the information from yourself and the perspective companies involved in this mortgage.
Unless you can resolve this matter for me this week, I am going to have no alternative route to rectify this problem but to report all 3 companies to the FSA for mis-seling and to ask them to rectify this matter with appropriate financial compensation for myself and to have any redemption fees repaid in full.
You made over £12,000 in commission fees from this mortgage yet we have received no service from you.
If I ran your business I would have sorted this out for the customer immediately, but all you have done is told me to contact the mortgage lender directly. Please just pick up the phone and get this matter rectified and have the original terms of the mortgage confirmed from GE and then we can all move on.
If I have not had this rectified by the end of this week I will commence the complaint with the Financial Services Authority and the Banking Ombudsman.

----------------------------------------------------------------------------------------------------------------------------
From: Craig Muttitt [mailto:craig.muttitt@maxim-mortgages.co.uk]
Sent: 25 July 2008 12:22
To: prorsum
Cc: Porter, Martin (GE Money); Fiona Hall
Subject: xxxxx

Hi Paul,

Fiona has had a long discussion to Martin Porter at GE and has come back to me with the following in response to your email below.
Martin is not changing the original terms and has again agreed that a mortgage of 75% is available provided it meets product parameters and is subject to standard financial underwriting, confirmation of income and acceptable security. This would and always has been the same with any lender.
As far as the early redemption penalty, here again nothing has changed – the ERP will be refunded on the new level of mortgage provided that the new mortgage completes within 6 months from the date of redeeming your previous mortgage.
I trust this finally resolves your concerns.
Regards
Craig Muttitt
Maxim Mortgage Solutions Ltd
Managing Director
( 01753 833 275
) 07796 332 410
* craig.muttitt@maxim-mortgages.co.uk

----------------------------------------------------------------------------------------------------------------------------
From: Prorsum
Sent: 08 September 2008 16:21
To: 'Craig Muttitt'
Cc: 'Porter, Martin (GE Money)'; 'Fiona Hall'
Subject: xxxxx

Hi Craig, Further to your email, I have taken further advice as I was concerned with your last response.I requested and was sold a portable mortgage by your company - "A mortgage which allows you to transfer the existing amount and terms of your mortgage over to a new property without penalty."I have written confirmation of this and this has not been disputed at any point by you or your suppliers.As such I can move the mortgage from property to property over its lifetime and where these transactions do not take place simultaneously there is a 6 month window in which to do this.Your response implies that I need to reapply for a mortgage and re-provide financial details. Have I misunderstood?The only details I should need to provide to you are the house details for valuation purposes and I can borrow up to 75% of the agreed valuation.There should be no arrangement fee as the mortgage is already live and current, as I said early, it is a portable mortgage and that is being transferred from one property to another.So for final clarification can you please confirm to me the above, namely that - a) There will be no further arrangement fees.b) That I do not need to reapply for the mortgage as it is a portable mortgage and that it is currently on hold within the 6 month window.c) The only information which I will need to provide to you to complete the transfer of the mortgage to the new property is the actual property details which will allow for a valuation to take place.d) As per the original terms of the mortgage I can borrow up to 75% of the agreed valuation under the mortgage.e) Redemption penalties will be repaid upon completion of the mortgage.As time is getting short now, can you please respond to this email as quickly as possible.Or alternatively as it appears that the portability of this mortgage is such an issue I am more than happy to completely move the mortgage to a new supplier. All that I require to do this will be the repayment of my redemption penalties.

----------------------------------------------------------------------------------------------------------------------------

After this email I have had no response from any one of the recipients.

**scoobydoo** · 18th November 2008, 17:59:PM

Re: GE Money Breach of Contract

The only comment I would make initially is that I still think we should pursue this

And thanks Dougal for your input.

I would say ( and I am not an expert) if you are reducing the mortgage and not transferring the whole amount then that may make some difference but off the top of my head I would expect a pro-rata reduction in the fees not to be charged the whole amount.

Anybody else out there that can assist with comments and next move on this?

Prorsum are you in limbo at the moment then? Renting while looking for another house?

I think a strong letter is in order but I am not sure if we need any more info first.

I am guessing time is off the essence?
------------------------------- merged -------------------------------
So really the last email does state they will refund the ERC if you completed a mortgage within 6 months - is that now not possible?

Are you querying the transfer fees or the fact that the 6 month window is a condition that was not in the original mortgage?

I think I can see the point of view of re-applying if there is a gap - as your financial position may have changed during that time.

I think you need to tell us what exacttly you want to aim for and then we will do a letter.

I guess it is a new mortgage and a refund if the ERC - or a transfer of them to the new mtg.

Is the new mtg likely to be 50% of the old mortgage 75% ??

I would point out that in the small print they can proabably change anything they like unfortunately but at least you have written confirmation of what they said they would do.

**scoobydoo** · 19th November 2008, 18:49:PM

Re: GE Money Breach of Contract

This really depends on the time factor but I think

1) you need to find the T&C of the mortgage and read them because I think that the mortgage would never be totally portable as you are interpreting. When you sell a house the mortgage has to be repaid and discharged to complete the purchase through the solicitors
2) I think the portability refers to the fact that the ERC would be transferrable and carry on if you took out a mortgage of the same amount . If the mortgage was smaller I would expect them to maybe repay the ERC in a pro-rata percentage.
3) I would expect that in the current situation they would have to check your income etc if there was a 6 month break and they would definitely have to have a new valuation as the new house is their security against the loan.
4) the way I read their last email that looks like that is what they have agreed and unfortunately in the small print of the mortgage they can probably withdraw or change any terms they like - lets face it technically they can even re-call mortgages if they want to.
5) Let us know what you want to achieve and maybe we can help with a letter.

IMO as I am a bit rustyin this area
scooby

**prorsum** · 20th November 2008, 17:01:PM

Re: GE Money Breach of Contract

Thank you again for your responses.

The problem is there are no T&C’s for the portable section of the mortgage is was agreed between the mortgage broker and GE before the mortagge was taken out but is only documented in email correspondence whcih i have posted above.

The fact that the mortgage was portable has not been desputed by GE.

As the portable section is not well documented I think a court would say what is fair and reasonable for me to expect.

I beleive that a portable mortgage means "A mortgage which allows you to transfer the existing amount and terms of your mortgage over to a new property without penalty.

This is not what GE were offering me.

Firstly they wanted to change the loan to value figure of the mortgage. The original mortgage was up to 75% but now they wanted to change this – presumably because the market conditions had changed. I forgot to include this email in the post above confirming their position on this.

From: Prorsum
Sent: 09 July 2008 10:05
To: Porter, Martin (GE Money); 'Fiona Hall'; 'Craig Muttitt'
Subject: xxxxxx7

Martin thank you for your email.
In the original email you said –
Would do 75% on property value and this was the amount within the original mortgage so I am assuming this has not changed.
Paul

From: Porter, Martin (GE Money) [mailto:Martin.Porter@ge.com]
Sent: 09 July 2008 11:48
To: prorsum; Fiona Hall; Craig Muttitt
Subject: RE

xxxxx7

that part no

They then said that actually I could have a mortgage of 75% as long as it met the current product parameters and is subject to standard financial underwriting, confirmation of income and acceptable security. – THE original mortgage was a self certification mortgage but now they were asking for confirmation of income, completely changing the terms of the original mortgage offer.

My mortgage terms were agreed when it was taken out. The deal was not that I could have a Portable Mortgage as long as when I wanted to do the portable bit I would have to prove that I met any changes to the mortgage parameters the company had happened to make over the period of time. I have no idea what the “current product parameters” for GE Money are but my original mortgage was a self-certification mortgage so if they have pulled these then I would not be able to transfer the mortgage which is unfair.

The 6 month portable period for the mortgage ended at the end of October 08 and in September having had no response to my last email I signed a 12 month lease on a rented property.

So what am I looking to achieve?

Ideally I would like to find them in breach of contract as they have not allowed me to transfer my mortgage on the original terms for which it was taken out and to have my redemption penalties repaid.

If this is not possible it may be better to go down the Financial Ombudsman Route and let them drag it out to try and get the mortgage restated, because otherwise I will be in the position where I have two houses with rent and a mortgage to pay.

**scoobydoo** · 20th November 2008, 17:42:PM

Re: GE Money Breach of Contract

Sorry can you just explain that last bit again ( sorry if I am being thick) You reapis the mortgage on the first house - but you have not sold the house? but you have bought another house but have no mortgage at all at the moment?

Sorry I am just trying to get my head round the 6month gap bit.

And I think your next move would be an official letter of complaint stating all the facts - asking them to deal with it before referring to the FOS .

I think this should be a letter to all involved with dates and referring to the copy emails etc. keeping it short and to the point .

**prorsum** · 21st November 2008, 09:30:AM

Re: GE Money Breach of Contract

Sorry if I did not explain the flow to well.

We sold our house on 01/05/2008. and rented a property for 6 months while trying to find another property to buy. We were actively looking to purchase another property during this period and we did make an offer on a property.

The 6 month period within which I could have transferred the mortgage to a new property therefore ended at the October 08.

In September 08, not having sorted the mortgage issue with GE, I signed a lease for a further 12 months on the property we initially rented.

The point I was trying to make was in relation to the question what did I want to achieve.

If we resolved something with GE in say 2-4 weeks and they agreed to everything and gave a further 6 months to find a property to purchase I would then find myslef in a position where I would have a house which I had just purchased plus one I still had to rent for a further 6 months.

Whereas the FSA would probably take 6 months before they even got into this and I may get a resolution nearer to when the lease on the rented property expires in 12 months time.

So my preferred outcome would be just to have my ERP repaid and for me to go with another supplier when I am ready to do so.

Thank you again for your quick responses.

**scoobydoo** · 21st November 2008, 16:18:PM

Re: GE Money Breach of Contract

Right so you are saying that the only reason that you did not proceed with the house purchase and signed the lease was that you had not got a definite answer about the mortgage and the ERC? So you re-signed the lease?

I can only think of two things really and one includes getting the full T&C by SAR or CCA

Or one last letter recorded delivery. If you do a letter then they may in fact send the T&C back anyway.

To: GE and Brokers

I refer to mortgage number xxxxx
As you know for some months now I have been in correspondence with you both but have never received a satisfactory reply.

When I took out the above mortgage out in XXXX It was agreed that the mortgage would be transferrable to a new property if I moved and in that event the ERC would be transferred to the new property and would not be repayable.
It would seem from the enclosed correspondence that this basic condition of the mortgage is being retracted or has conditions attached that I was not made aware of.
I would not have taken out this mortgage had I had been aware of this situation.
As I had to move into rented accomodation before completing on a new property the mortgage was repaid on xxxx and you deducted the ERC.
However since that date the correspondence recieved from bth of your companies has been confusing and unprofessional to say the least.

As a result I was unable to complete on a house I had made an offer. This was due to the financial implications caused by your replies to my enquiries . I have now had to re-sign a lease on the rented accomodation I am in and I am in limbo. I can not move forward on a purchase untill you clarify in writing your full intentions regarding the ERC and the intended extension to the allowed transfer of the mortgage. I have already lost one property as a result of your approach to this problem so you can consider this letter as an official complaint.

If I do not receive a relpy within 10 days I will be taking appropriate advice on how to proceed with this complaint.

How about that for starters?

**prorsum** · 21st November 2008, 17:43:PM

Re: GE Money Breach of Contract

Great thanks, I can send a letter no problem. You wrote about two thoughts, what would be the second?

"I can only think of two things really and one includes getting the full T&C by SAR or CCA "

and What is SAR or CCA ?

**scoobydoo** · 21st November 2008, 20:01:PM

Re: GE Money Breach of Contract

http://www.legalbeagles.info/forums/showthread.php?t=70

CCA is consumer credit agreement - but I think that is more applicable for credit cards and loans

I think what we really need is a copy of terms and conditions of the original mortgage - which you must have signed whether through the broker or not.

I am trying to get some help as a bit out of my depth here.

**Amethyst** · 21st November 2008, 21:07:PM

Re: GE Money Breach of Contract

You should have a copy of the mortgage contract and all details regarding the portability should be in that.

From what you have said the deal was that you needed to either sell and buy back to back for full portability or remortgage from scratch with the same company within 6 months for a refund of the ERC. As you did neither then if that is what is detailed in your contract then yes you are probably in the position of being liable for the ERC as charged.

The emails are a little airy and details of this nature would need to be specified within your mortgage contract.

If they are and the entire thing was dealt with by the broker then yes you may have a case for misselling based on those emails and the poor advice received from the broker.

Really need to see the mortgage contract.

GE Money Breach of Contract

GE Money Breach of Contract

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