Hi all,
Back in 2006 I took out a Together 5 year fixed Mortgage with NR (silly silly me!), Part of the mortgage was taken as an unsecured loan.
While reading over my pre contract info and the signed loan agreement I noticed that they did not give me information about my right to cancel, which I thought was 14 days? Mortgage selected by IFA and completed by post.
The pre-contract info which was bundled with my offer of mortgage loan only says:
"YOUR RIGHT TO CANCEL -
Once you have signed this agreement, you will have a short time in which you can cancel it. The Lender will send you exact details of how and when you can do this."
Nothing ever came except the actual loan agreement which was signed... The original and signed copy dated Aug states:
"YOUR RIGHT TO CANCEL -
Once you have signed this agreement, you will have a short time in which you can cancel it. The Lender will send you exact details of how and when you can do this."
On digging through my files however I then found a "Second Copy" dated Oct which is unsigned and includes further info on cancellation and a small cancellation form, it states:
"YOUR RIGHT TO CANCEL -
You have the right to cancel this agreement. You can do this by sending or taking written notice of cancellation to *northern rocks full address*. You have FIVE days starting from the day after you receive this copy. You can use the form provided. If you cancel this agreement, any money you have paid must be returned to you. You will still have to repay any money lent to you. But if you repay all of it before your first instalment is due you will not have to pay interest or other charges.
Does this comply with the CCA or relevant law? I note also that I entered into the agreement prior to the amended 2006/07 Act.
What do you guys think?
Cheers,
T
Back in 2006 I took out a Together 5 year fixed Mortgage with NR (silly silly me!), Part of the mortgage was taken as an unsecured loan.
While reading over my pre contract info and the signed loan agreement I noticed that they did not give me information about my right to cancel, which I thought was 14 days? Mortgage selected by IFA and completed by post.
The pre-contract info which was bundled with my offer of mortgage loan only says:
"YOUR RIGHT TO CANCEL -
Once you have signed this agreement, you will have a short time in which you can cancel it. The Lender will send you exact details of how and when you can do this."
Nothing ever came except the actual loan agreement which was signed... The original and signed copy dated Aug states:
"YOUR RIGHT TO CANCEL -
Once you have signed this agreement, you will have a short time in which you can cancel it. The Lender will send you exact details of how and when you can do this."
On digging through my files however I then found a "Second Copy" dated Oct which is unsigned and includes further info on cancellation and a small cancellation form, it states:
"YOUR RIGHT TO CANCEL -
You have the right to cancel this agreement. You can do this by sending or taking written notice of cancellation to *northern rocks full address*. You have FIVE days starting from the day after you receive this copy. You can use the form provided. If you cancel this agreement, any money you have paid must be returned to you. You will still have to repay any money lent to you. But if you repay all of it before your first instalment is due you will not have to pay interest or other charges.
Does this comply with the CCA or relevant law? I note also that I entered into the agreement prior to the amended 2006/07 Act.
What do you guys think?
Cheers,
T