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mortgage default fees

Hi all,

I'm a landlord and recently defaulted on five payments from one mortgage lender CHL
costing me over £200. This was because I simply misjudged my bank account funds before going on holiday.

Does anyone know if my lender is allowed to take such a large amount in penalties!!

Thanls

Darren

Comments

  • dunstonh
    dunstonh Posts: 118,558 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Does anyone know if my lender is allowed to take such a large amount in penalties!!

    If its in their published tarriff then yes.

    There has been very little evidence of sucess in people claiming back these fees as banks seem more willing to go to court with them. Indeed, there have been plenty of people on this forum who have posted that they tried and ended up having to pay costs and be a lot worse off.

    The main reason for this is probably due to the packaging of the arrears charges being different to overdraft charges.
    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.
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