can i make a claim

ropper

sorting some old paperwork out yesterday i came across the paperwork for my first mortgage which i took out in aug 1998. the mortgage was for £36900 with the royal bank of scotland. i remember at the time something about a fee added to the mortgage (cant find the original mortgage offer) but have the first statement after it was taken out and there was £1200 added to the mortgage( it definatley wasnt a redemption,ltv or arrangement fee ) im pretty sure it was something that banks have been stopped from adding this to mortgages since

can anybody help me what this add on was called again and is it open to be claimed back

toonfish

So you have no idea what it was, but want to claim it back?

Was probably a higher lending charge, which you can't reclaim.

ropper

pretty sure it was something like an idemity charge or something like that.all i know that whatever it was they were stopped from putting them on mortgages not long after 1998

wish i could find all the paper work for it pretty sure its gone through the shredder.

is there anyway of finding out what it was i still have the mortgage account number

lisyloo

It sounds like a mortgage indemnity guarantee.
This is an insurance to cover the lender if your house price falls and they are unable to recover the amount they need from repossessing the house.

You won't be able to claim this back as far as I know.

If you want to know what it was for then why not ask your lender?
Phone them up and ask.

luckyfool

ropper wrote: »

pretty sure it was something like an idemity charge or something like that.all i know that whatever it was they were stopped from putting them on mortgages not long after 1998

wish i could find all the paper work for it pretty sure its gone through the shredder.

is there anyway of finding out what it was i still have the mortgage account number

These fees have not been banned or stopped after 1998. The regulatory regime changed and the name of these fees was harmonised at "Higher Lending Charge" or HLC. They are still out there, getting charged, and are perfectly legal.