Abbey: Mortgage exit fee / process

Hello,

Happy to say two payments remaining on out mortgage, we have been working very hard for the past 5 years to rid ourselves of the millstone and have made sacraficies along with excellent MSE advice from many posters here to enable us to be in a position to pay the final two payments before my 35th birthday :)

The Abbey have sent a letter stating that there will be a £99 exit fee to be paid. Is there anyway out of this? I feel they have made enough money from us over the last 5 years (fixed deal 5.85%)!

They also mention i can instruct a solicitor or allow them to carry out the final process (sorry don't have the letter here) - for which they do not state what this is or how much (if anything) this will cost.

any ideas?

thanks

Replies

  • Gongrats on getting there before your 35th!

    It's possible to get out of the £99, however very unlikely unless you like your 'direct action'. Anything is possible. BTW... Northern Rock try to charge £250 if that makes you feel better.
  • dimbo61dimbo61 Forumite
    13.3K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Forumite
    £99 exit fee sounds about right BUT read carefully what your old mortgage paperwork says!
    Abbey overcharged me by £165 a few years back as they had put the exit fee up but the GOD that is Martin did an article on mortgage exit fees and a quick letter to Abbey got some of my money back.
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