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Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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I signed a minimum term lease agreement in 2012 with

Customer Question

I signed a minimum term lease agreement in 2012 with nationwide corporate finance for £10k in return i put up some commercial equipment at my business and my car.
When i made final payment last August I rang my account manager to ask what the process is to get the titles back, he said 'we will send you a letter and charge an admin fee for the paperwork' I asked what the admin fee would be and he said it would be a nominal amount (i have this call recorder) when i originally arranged the agreement he also said then that it would be a nominal fee but i didn't record that conversation. Can you tell me if they are required to keep transcripts/call logs?
The fee to get the titles back is just over 3k! Is there any misconduct here on their part? if so do i have any recourse?
Thank you.
Submitted: 2 years ago.
Category: Law
Expert:  Ash replied 2 years ago.
Hello my name is ***** ***** I will help you.
Is there anything in the lease which says they can charge this?
Customer: replied 2 years ago.

Attachment: 2015-09-17_142448_khalique__son_ltd_agreement_1.pdf

I've tried to attach the agreement in pdf, can you open it?

technically the own the property but it was my understanding that i would have the right to the titles for a nominal fee once I had made all the payments.

Attachment: 2015-09-17_142933_khalique__son_ltd_agreement_1.pdf

Expert:  Ash replied 2 years ago.
I have looked at the agreement and can't see where it says you are liable for further fees. Ask them where it says in the agreement they can charge these sums - if it is not in there then they can not. This is a contract which binds both parties and as such can't be changed.
Therefore if it is not in the contract - they can not charge for it.
Can I clarify anything for you about this today please?
Customer: replied 2 years ago.

Its a minimum term agreement, so i think they will just say 'if i don't want to pay to get the titles back then don't' but then they will be owners of my property. I did ask which section and they said section 6 and the last page.

I understand that this is a lot of work for just £56, I can pay more for the time you need to read through this agreement.

Expert:  Ash replied 2 years ago.
That is only if the agreement is breached, I assume it was not. Ask them for a specific clause.
I can read through the whole agreement, but that would be an additional service.
Ash and other Law Specialists are ready to help you
Expert:  Ash replied 2 years ago.
Did you breach the agreement in any way?
Customer: replied 2 years ago.

No I made all payments on time.

Expert:  Ash replied 2 years ago.
Then I can't see anywhere in the agreement that allows them to charge for this. They just can't unless they can pin point it. I have been through the agreement. Some parts are not clear from the scan, but I can read 90% of it.
Customer: replied 2 years ago.

Alex have you been paid? i tried to rate you and got an access denied page.

Expert:  Ash replied 2 years ago.
Yes its been done thanks!
Expert:  Ash replied 2 years ago.

I am just following up to see if there is anything else I can help with?

If you have not done so already might I ask you to rate my answer before you go today please, the button should be at the bottom of the screen.

If you need more help please click reply.