Fair Rents (Scotland) Bill or Artificial state manipulation of free market rent?10:34 AM, 6th November 2020
About 4 weeks ago 36
Last week, I completed the sale of an apartment. The mortgage was redeemed from Rosinca – this being a mortgage that was recently transferred from UKAR, previously being a Mortgage Express product.
Rosinca have charged me a fee (of 0.5% of the outstanding balance) to waive their “Right to Consolidate” all of my mortgages with them. This mortgage (nor any other) has never been in arrears.
The outstanding balance of £180,000 has created a fee of £902 added to the redemption figure, along with the threat that they would refuse to redeem the mortgage unless this fee was paid.
My solicitor paid the full redemption cost, as this was the only way to complete the sale.
Has anyone else had this experience?
Any advice for me on possibly recovering this fee?
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.
Our mission is to facilitate the sharing of best practice amongst UK landlords, tenants and letting agentsLearn More