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Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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I arranged a mortgage recently through a mortgage adviser,

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I arranged a mortgage recently through a mortgage adviser, who is part of a financial services company. He advised me verbally, that the date for an early redemption penalty had elapsed and that my mortgage was therefore free of any penalties. In my "mortgage suitability" statement furnished by the adviser, the document says there is an early repayment fee with the existing mortgage but does not qualify this by saying, "and you will be subject to it, and it will cost you this, etc.,".
The day after exchange of contract, my solicitor rang to say I was being charged an £8000 early redemption fee, and was I aware of this?
Needless to say it was too late to cancel the mortgage since exchange had taken place. So I reluctantly agreed to it. My mortgage adviser apologised and offered to increase the mortgage by £10K, which I again, reluctantly accepted.
That was last month. I have since been told by several people, including another mortgage adviser, that it was his professional duty to offer me the best possible advise, and to point out any potential charges. However, neither my friend nor anybody else that I have spoken to is a legal adviser. Hence, I am hoping you might be able to guide me. In short, if you believe, based on the evidence I have presented, that I have a strong case, I will contact my mortgage adviser and ask him to reimburse me the £8000 early repayment fee. If not, I will have to let it rest there.
Mr Flynn
Hello my name is ***** ***** I will help you with this.
I assume you were not told about the charge before you exchanged?
Ash and other Law Specialists are ready to help you
Customer: replied 2 years ago.
Hi, my number is *****