Abbey: Mortgage exit fee / process 29 September 2009 at 12:31PM in Mortgage-free wannabe 2 replies 975 views

slevin

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

co123456

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.

dimbo61

£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.