Mortgage Exit Fees successes and failures

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Comments

  • janed9388
    janed9388 Posts: 301 Forumite
    I wrote to Barclays a few weeks ago (previous mortgage with Woolwich) - it was a very generic letter as I had no information at all regarding account numbers, amount paid etc & the mortgage was repaid in 2000 so I didn't expect anything at all. I received a letter today saying that we only paid £20 (I had no idea) when it should have been £65 so I wasn't due anything as they disagreed with my complaint BUT that they would send me a cheque for £50 as a good will gesture !


    Great right ?? seems to easy for me and makes me wonder if I'm missing something ? Like the actually owe me £1000's for PPI and hope this will make me forget about it ! I suspect I'm over thinking though as I'm sure I would have said no to PPI but have no recollection at all. Any thoughts ?
  • Emorp
    Emorp Posts: 12 Forumite
    First Anniversary Combo Breaker
    Used the form letter, amended as a hybrid between a rate increase (£195 to £225) and an objection to the size of the fee, as per the pre 2002 rates.
    I have today received a cheque which appears to be a full refund of the whole amount plus interest for 7.5 years - £331!
    Thanks again for the brilliant advice :beer:
  • chevette
    chevette Posts: 1 Newbie
    Read about Mortgage Exit Fees for the first time yesterday afternoon. Made two simple phone calls and was refunded £450 by C & G (2 mortgages) and £150 from Birmingham Midshires! Fabulous!! Many thanks for highlighting this.
  • janzbro
    janzbro Posts: 39 Forumite
    First Post Combo Breaker First Anniversary
    Hi all, my current mortgage deal with santander is coming to an end this week and I have been on there website to request details for a new fixed 2 year deal but they are trying to charge me £225 admin fee!!!! :mad:

    Is there any way of avoiding this

    Thanks

    John
  • Nasqueron
    Nasqueron Posts: 8,785 Forumite
    Name Dropper First Post First Anniversary Combo Breaker
    janzbro wrote: »
    Hi all, my current mortgage deal with santander is coming to an end this week and I have been on there website to request details for a new fixed 2 year deal but they are trying to charge me £225 admin fee!!!! :mad:

    Is there any way of avoiding this

    Thanks

    John

    Did the initial contract you signed mention these fees?
  • dunstonh
    dunstonh Posts: 116,318 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    janzbro wrote: »
    Hi all, my current mortgage deal with santander is coming to an end this week and I have been on there website to request details for a new fixed 2 year deal but they are trying to charge me £225 admin fee!!!! :mad:

    Is there any way of avoiding this

    Thanks

    John

    Go back in time and do not sign the contract that you agreed to that would have stated a £225 admin fee.

    As it was only 2 years ago, it would have been documented on the key features illustration and contract document. its a bit late to be mad about it now.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Steve_xx
    Steve_xx Posts: 6,976 Forumite
    Name Dropper Combo Breaker First Post First Anniversary
    janzbro wrote: »
    Hi all, my current mortgage deal with santander is coming to an end this week and I have been on there website to request details for a new fixed 2 year deal but they are trying to charge me £225 admin fee!!!! :mad:

    Is there any way of avoiding this

    Thanks

    John
    Surely they wont charge you the fee if you're staying with them for mortgage? Isn't the fee only applicable if you leave Santander?
  • janzbro
    janzbro Posts: 39 Forumite
    First Post Combo Breaker First Anniversary
    Thats my point, I knew about the admin fee but thought as I was re-mortgaging again with them then this wouldnt have to paid.
  • Steve_xx
    Steve_xx Posts: 6,976 Forumite
    Name Dropper Combo Breaker First Post First Anniversary
    janzbro wrote: »
    Thats my point, I knew about the admin fee but thought as I was re-mortgaging again with them then this wouldnt have to paid.
    I knew about the fee, but I thought that it applied once you redeemed the mortgage rather than transferring it to one of their current products. I can't see many people swallowing that charge if they go for a two year fix each time they renew.

    I guess if it's as you say, then at the point of renewal I would be saying to them them "if you choose to apply this charge, then I'll be leaving".
  • chall2
    chall2 Posts: 2 Newbie
    I reclaimed my mortgage exit fee successfully with the Halifax but they made me sign something saying I would never claim anything from them again. At the time I was not aware that I had PPI with them and just signed it. They are now refusing to refund my PPI because of the form I signed. Surely this is not good practise, I feel well and truly conned by them, the refund was for around £100 but the would have owed me so much more in PPI..
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