Mortgage Deeds Release Fees

B1SES

Hi
This is my first post!:j
Our (2 year fixed rate) mortgage with Natwest matures at the end of July and we have secured funding with another lender.
On reading our Redemption Statement, we noticed that the NatWest 'Sealing/Deeds Release Fee' is £225.00. We have never come across this before when a mortgage deal matures.
Does anyone have any similar experiences?
Do release fee amounts vary from lender to lender?
Has anyone challenged this fee/amount and been successful?
Many thanks:hello:

_Andy_

Hi

If your original mortgage offer states a £225 fee then there's nothing to challenge.
Worth checking your paperwork.

happybroker

very few lenders do this work for free, I'm surprised you've never seen it before.

lisyloo

It's very common it's for admin.
You would have been told about it up front in the terms and conditions although it's very unlikely you read them all (like everyone else).

They can be challenged if they are too high, but around £200 is about right, so it's not too out of the ordinary.

It does depend on what your original paperwork say though, so it's worth checking.
I've got my money back when the fees doubled.
It costs the lenders a lot of money if you argue (about £350 if you go to the ombudsman) so sometimes it's worth pushing it.

Check you agreement to see what you originally agreed to to see if you have a good case. If it's risen a lot you might have a good case, but otherwsie £225 is not outrageous.