Rhys and Delyth complained about the early repayment charge they had to pay after repaying their lifetime mortgage.
What happened
Rhys and Delyth wanted to move house to be closer to their family. The lender said that because they were repaying their lifetime mortgage early, they would have to pay an early repayment charge of £30,000.
But they felt the charge was unfair and far too high. They said they needed to move because of Rhys’s poor health, as Delyth didn’t think she could manage without extra support.
They complained to their mortgage lender and, unhappy with the response, they brought their complaint to us.
What we said
We looked at the mortgage agreement. It said the charge would be removed if both customers – as they had a shared mortgage – needed to move because they required full-time care.
That wasn’t the case here. Medical evidence showed that Delyth was able to care for herself, and Rhys was able to carry out several activities without help. We were satisfied that they were aware of the early repayment charge before they took out the mortgage.
While we understood Rhys and Delyth’s situation and sympathised with them, we didn’t think the lender was wrong to apply the charge. We did not uphold their complaint.