Re-mortgage Existing lender admin fees

Ian_W

It's possible but not a gimme. The recent OFT report on credit card charges was also pretty scathing on bank and mortgages charges that are effectively a penalty rather than being related to the cost involved to the lender. A fee of £50 probably does relate to the lenders costs when you remortgage to someone else, a fee of £300 is simply profiteering. In view of that report I think lenders might be a little more circumspect about increasing them in the future.

I was praising Nationwide at £90, who charges just £50? Name & praise them.

Bernard_Coleslaw

Ian_W wrote:

I was praising Nationwide at £90, who charges just £50? Name & praise them.

Just a thought, but if it's paid on completion then this £50 doesn't sound like a deeds release fee/mortgage exit fee to me - these are normally paid at redemption.

BC

draker

Hi there,

I am due to redeam my Northern Rock fixed rate mortgage early. I am willing to pay for my redemption fee, but I wish to query the deeds release fee admin charge.

Does anyone have a note of the release fee for when I took out my original mortgage (Together) with Northern Rock in July 2002 and the release fee charge for when this was converted to a fixed rate product in April 2003?

Thanks in advance

draker

draker

Hi there,

Can anyone help me with the post above?

Thanks

draker

regularsaver1

I understand that Rbs have just increased their fee to £225

firstfootontheladder

My lender is halifax,

On the KFI it states

deeds dispatch fee (payable) on repayment, currently £50, this must be variable then ?

sorry for the late reply ian, had a hectic week moving in :j

regularsaver1

yes the £50 can be changed

it also states the £175 later in the early repayment charge section

Slayerx

If it would help I could possibly get a list of fee's for lots of the lenders if it would help others?

MarkyMarkD

draker wrote:

Hi there,

I am due to redeam my Northern Rock fixed rate mortgage early. I am willing to pay for my redemption fee, but I wish to query the deeds release fee admin charge.

Does anyone have a note of the release fee for when I took out my original mortgage (Together) with Northern Rock in July 2002 and the release fee charge for when this was converted to a fixed rate product in April 2003?

Thanks in advance

draker

If you have kept the original paperwork, the small print (the APR calculation and total amount payable) will include the amount you want to know about.

The original July 2002 amount would be irrelevant if you have already switched products in April 2003.

tonydee

My letter to Abbey has been sent this morning. Thanks for the contibution and information guys and gals.