No mortgage exit fee for me?

bank8er

Hi all,

Just had my reply from Abbey about my exit fee when my mortgage ran from 2000-2007 with them.
Apparently I am not ineligible for a refund because a conversion to a new mortgage product was completed and the terms of the product specified a mortgage repayment fee of £225.
Now I am not really sure what to do next as I have read that in Jan 07, the FSA told lenders they must justify these increases, but seeing as though they were on my terms and I went ahead with it, what can i do?

Thanks guys n gals

borgbaiter

hi

im not sure what your saying. can you explain again please.


borgbaiter

bank8er

Hi borgbaiter,

I requested a refund on a mortgage exit fee with Abbey and they sent me a application form for me to fill out and send off so they could look into it.
I just had a reply from Abbey reading "You am not ineligible for a refund because a conversion to a new mortgage product was completed and the terms of the product specified a mortgage repayment fee of £225"

Now if i signed to these terms is there anyway I can get a breakdown of costs because I cannot see how the fee has shot up from £60 (2001) to £225 (2007)?

I was wondering if anyone has had the same reply as me or if anyone could give me some advice.

Many thanks

Toughluck

If you converted onto another product with the same lender and YOU agreed to all the terms and conditions, and this would appear to be the exit fee from when you first arrived at the Abbey, then there is no reason for them to waive or reduce this fee for you. I fyou think you are hard done by one this aspect I suggest you keep writing to them and keep getting the same response!!!

dunstonh

The way I read that, the OP entered into a contract where the charge for exit was £225 and for some reason doesnt feel its right to be charged £225 despite those being the published terms at the start of that chosen deal.

Now if i signed to these terms is there anyway I can get a breakdown of costs because I cannot see how the fee has shot up from £60 (2001) to £225 (2007)?

There is no requirement for them to give you a breakdown of costs.