RBS Sealing Fee - What was it in 2000?

mleonard79

I've got an RBS Flexible Choice Mortgage which doesn't have any charges to redeem. I'm about to remortgage so asked for a redemption statement. As I read this forum pretty regularly I wasn't surprised to see one of these fees on the statement for £225. I know many people have been trying to get them reduced or waived so I phoned up RBS to ask about it saying that as far as I was aware there were no fees for redeeming the mortgage and the assistant I talked to told me to look at my mortgage terms and conditions and there should be a bit on there about this fee. The mortgage was started in 2000 and she said that whatever the fee was at that time they would honour so that sounded quite good. I have been over and over the papers, however, and I can't find anything about this fee so what I need to know is did it exist in 2000 and if so what was it?? Thanks for any help.

Michelle

mleonard79

No-one have any idea? I know it was £75 last year or the year before but as there is no mention of it at all on my mortgage terms I would like to be sure of what it was in 2000 before I ring to complain! Thanks.

mleonard79

Ok I found an article which details all the sealing fees for institutions. In case anyone else needs to know:

http://www.fool.co.uk/news/Comment/2006/c060317d.htm

mleonard79

I know it seems i'm talking to myself here but just to update. Phoned RBS and very politely told them the fee was £75 when I took out the mortgage. The first person at redemptions couldn't help me so she put me through to the customer care team who immediately told me that that was fine and they would issue a new statement with the fee at £75. Very easy indeed - I was expecting to have to write a load of letters!

Michelle

tonydee

Nice one mleonard79. I'll have a sealing payment of £225 to pay very soon, so will now look into my options.

Thanks

mleonard79

No problem Tony - As far as I can tell this fee was £75 up til last year so if you've had your mortgage for a while you should be able to do what I did and get it reduced. I did it very politely and it seemed to work but it might all depend on who you get on the other end of the phone! If they say no on the phone write a letter (think you can find sample letters on the A&L charges thread) and you can even take it to the financial ombusdman. I was pleasantly surprised at how easy it was for me but I know its not always that easy. Hope it goes well for you.

Regards,
Michelle

tonydee

I'll let you know how it goes (late August). Thanks again

tonydee

My update :

Abbey are in the process of sending out a cheque for £225 cheque as full refund

mleonard79

Excellent Tony - well done! :beer:

Regards

Michelle