Mortgage Exit Fees successes and failures

yvonnew_2 · 13 April 2012 at 10:23AM

Thank you very much Mr Lewis, once again you have come through with the goods.:j
I have changed mortgage with 3 companies, and one of them has just come up with a refund cheque for £150:beer:
This was Birmingham Midshires. I didnt have the account no - i just gave them our contact details and along with your template letter and sent an email to their customer service dept, the very next morning they called us, verified information and 2 days later we have the cheque in our hand.
Once again Martin thanks v much x:T

lizgoodey1304 · 13 April 2012 at 10:28AM

Had success with claiming back £295 plus interest relating to exiting my Alliance & Leicester mortgage 7 years ago. I sent a letter last week and received a cheque for the full amount today - on my birthday!!! Very happy - thanks MSE for highlighting this.:j

JK79 · 13 April 2012 at 11:33AM

I followed your advice to the letter and have just received £183 back from C&G for a mortgage that I took out in early 2004! There were no quibbles and the phone call barely lasted a few minutes....so pleased MSE highlighted this, thank you!!

BigExpertFan · 13 April 2012 at 2:03PM

I too have just received a cheque for my Mortgage Exit Fee.
I first phoned and got the run around, 5 different people plus the same person twice. Outside the electronic record keeping rules to provide information I was finally told.

I didn't give up, I used one of Martins templates requesting the difference in the fee charged to me in 2006 and the fee quoted when I took the mortgage out as per the fee table. I also asked for the interest using the calculation in the template.

I have received the whole fee, not just the difference, plus the interest, a total of £468.13 (so a little credit to Santander I suppose).
So pleased you can't imagine, thank you credit expert. :T

marmitequeen · 13 April 2012 at 3:16PM

Thanks to everyone for motivating me to do this. I phoned A&L today to be told this all has to be done by letter - no email address available for it either.

I've done the letter but I'm really struggling as I can't find the original MEAF quoted. I took the mortgage out in 2003 on a 2-year fix and then went onto another 2-year fix in 2005. I've got all the original paperwork and booklets but can't find an actual figure set out for the fee. We paid £295 when we left in 2008 and I questioned it at the time as I'd never heard of anything that high and was told that was the fee (I actually remember the conversation clearly as the woman was so 'you've no choice, that's what it costs').

So, my question is, can I just leave that bit off the letter where I should say what the original quoted fee was as I just know it must have been lower than £295?

Thanks!

Infor1penny · 13 April 2012 at 6:09PM

Just had confirmation from Yorkshire Building Society that they are going to refund me £125.00, dating back to 2005, they wouldn't apply any interest but am happy with that. Waiting on news from 2 others with C&G so fingers crossed. Only took a phone call

Harry_Potless · 15 April 2012 at 6:52PM

Thanks for reading.

Sold my house (with great sadness:() in June 2006 and moved into the rental sector.

Can't find all the paperwork (probably cuz I've moved house twice and had corresponding "clearouts" as each new abode seems to get smaller than the last one).

I have no idea whether or not I was charged an "Exit Fee".

Can I request/demand full details of my account dealings with the bank (NatWest as was), via a simple letter - or should I (can I) send them a SAR either with or without the £10 statutory fee?

Any advice appreciated.:)

dunstonh · 15 April 2012 at 8:39PM

Can I request/demand full details of my account dealings with the bank (NatWest as was), via a simple letter - or should I (can I) send them a SAR either with or without the £10 statutory fee?

You have to remember that the bank only has to refund any difference, if any, between what was agreed at the start of your mortgage or the last deal you bought and what you actually paid.

So, if you are going to have to start spending £10 to find out the information then you really have to think spending £10 to end up with zero to £150 (typical range) is worth it. If you didnt hold the mortgage very long, then chances are you paid what you should have. Especially as 2006 was after the time that many lenders had reverted to charging the contract amount. If you held the mortgage for a long time (without buying new deals in between) then there is a good chance you could get something.

Harry_Potless · 15 April 2012 at 10:32PM

dunstonh wrote: »

You have to remember that the bank only has to refund any difference, if any, between what was agreed at the start of your mortgage or the last deal you bought and what you actually paid.

So, if you are going to have to start spending £10 to find out the information then you really have to think spending £10 to end up with zero to £150 (typical range) is worth it. If you didnt hold the mortgage very long, then chances are you paid what you should have. Especially as 2006 was after the time that many lenders had reverted to charging the contract amount. If you held the mortgage for a long time (without buying new deals in between) then there is a good chance you could get something.

I'm just saying that I don't have a copy of my contract.

How should I get a copy of my contract and details of what (if anything) I paid?

If the worst case scenario were that I invested £10 in order to realise £150 then most would consider that a good result.

I am ignorant with regard to this (I only came across "Exit Charges" by accident, today.

Sorry to be such a nuisance with my ignorant/impertinent query.:(

dunstonh · 15 April 2012 at 11:39PM

If the worst case scenario were that I invested £10 in order to realise £150 then most would consider that a good result.

The worst case is that you get zero and waste £10.

Mortgage Exit Fees successes and failures

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