Mortgage Exit Fees successes and failures

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  • Noz
    Noz Posts: 3,869
    First Anniversary Combo Breaker
    Forumite
    sally06 wrote: »
    where's the letter template? looked on first page but couldn't find it!
    http://www.moneysavingexpert.com/reclaim/mortgage-fees
  • hotblu
    hotblu Posts: 293
    First Anniversary Combo Breaker
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    Hello,

    Just wanted to drop by and say a BIG thanks to Martin. I had 2 mortgages (one residential & one buy-to-let), both with Birmingham Midshires a few years ago which I had settled early. After watching Martin on TV I thought I would ring BM and "try my luck". To my surprise they wrote to me within a week willing to settle both accounts with an offer of £100.00 (original charge on both mortgages should have been £100.00 each but they actually charged £150.00). Got the cheque last week and its cleared into my bank account (go on holiday in two weeks so money will come in very handy). Thanks again.

    Hotblu
  • I'm about to change my mortgage provider from Northern Rock and my statement from May 2007 tells me my MEAF is £195. However I understand Northern Rock have now completely abolished their MAEFs. Does anyone know whether this applies to new customers only and therefore I will still have to pay the £195? If so do you think I've got a leg to stand on if I question this? Any advice would be very much appreciated indeed! Thanks!
  • MarkyMarkD
    MarkyMarkD Posts: 9,912
    First Post First Anniversary Combo Breaker
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    Hi gcsouth and welcome to the site.

    No, it doesn't apply to existing borrowers. If your fee was £195 when you took out your mortgage (or subsequently switched product), that's how much you should pay.
  • dragon56
    dragon56 Posts: 14 Forumite
    Originally Posted by dragon56 viewpost.gif
    Hi

    I guess I am straight in at the deep end! I have just read Martin's article and since we remortgaged at the beginning of this year I dug out the redemption statement (GMAC). It quotes a repayment Administration fee of £135.00 but also lists a lot more ie. deeds production fee = £50.00, Charges (unspecified ) = £400.00, Expenses (again unspecified) = £120.00.
    From what I have read some, if not all, of these are MEAF in a different guise.
    Can anybody advise me?

    Thanks







    MarkyMarkD wrote: »
    Write to them stating that they've charged you £x (being the total of the amounts listed) as an MEAF when you redeemed your mortgage and that is more than you were quoted when you took out the mortgage and you want an appropriate refund.

    Then see what they say.


    Hi
    I cheque arrived within a week for £30.00 (£20 off admin fee & £10 off deed production fee). I queried the other charges, the £400 is for late payments which is probably an unreasonable amount but I believe claims are frozen by FSA on that issue? The £120 charge was for not paying by s.o. a dirty trick but listed in their charging schedule so I suppose I will have to live with it.

    I am self employed and, like many, live on the edge, if a client is late paying me the bank refuses my s.o. and ( sometimes for the sake of 24 hours) I would have to pay the building society for late payment and the bank for the privilege of refusing my s.o. so, annoying though it is, it's cheaper to pay the extra to pay by cheque.

    A ramble I know but it might help someone else.
  • I telephoned Cheshire Building Society last week and asked what I needed to do to get a refund for the exit fees I had paid, I had no idea what I had paid or what we should have paid but decided just to wing it. They asked me to write to them which I did and two days later I received a cheque for £125.81 - FANTASTIC - Thanks
  • Paid off my mortgage at the beginning of last year RBOS charged me £225 sealing fee for the privilege, downloaded and sent Martin's MEAP reclaiming letter 10 days ago, bank just refunded me £150 straight back into my account.

    :T :T :T :T :T :T :T :T :T :T :T :T
  • Hi I wrote to the Nationwide, unsure of what I had paid exit fee wise in 2006 when I moved mortgages. Within 3 days they had replied to me in writing with a £90 refund cheque attached!

    Many thanks
    Amanda!
  • Hi Guys.

    Thought I would make a few calls to our past mortgage lenders to see if we were due anything.

    First call was to Halifax, using the number given by Martin on this site - 2 year mortgage from Aug 2000-Sept 2002.

    On the phone for 6 minutes and 45 seconds and a cheque for £25 is in the post!

    Well done Halifax, quick, efficient and fair:T :T :T
    If only I knew then what I know now :)
  • I can't believe my luck:D

    My second call was to Abbey.

    Mortgage from Sept 2002-Sept 2004...They are sending me a form to fill in:rolleyes:

    Then I phoned Woolwich/ Barclays....

    Mortgage from Sept 2004-2006 then remortgaged taking out a new deal but still with Woolwich - on the phone for less than 5 minutes!!!

    £80 REFUND PLUS £2.62 INTEREST PAID DIRECT INTO OUR BANK ACCOUNT THERE AND THEN!!!

    Well done Woolwich/Barclays yet another case of a bank being quick, efficient and fair:T :T :T


    A huge THANK YOU to Martin and all the team at MSE:beer: :A :j
    If only I knew then what I know now :)
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