INITIATION FEE CAN BE PAID UPFRONT?

[Artvark]

Interestingly they have subsequently told me that I can now pay this fee upfront with interest fees to be backdated and refunded etc. However they have stated catagorically that they are not in the wrong and they do not have to let me do this.

Ha - Ha ! That's funny. What is the last time the Bank refunded anything when legally they were not obliged to ?

And Your finacial Lease agreements will be the same. as can be seen quoted here in the Credit Act :

"102. (1) If a credit agreement is an instalment agreement, a mortgage agreement, a
secured loan or a lease, the credit provider may include in the principal debt deferred
under the agreement any of the following items to the extent that they are applicable in
(a) an initiation fee as contemplated in section 101(1)(6), if the consumer has
been offered and declined the option of paying that fee separately;
"