Mortgage Arrears Fees

mustang65

Firstly, Hi there new to the site,

Just a quick question I read an article on the internet about being able to claim back mortgage arrears fees, can I ask firstly if anyone has and secondly how do we go about it.

Thanks

Windmill67

You can claim them back if they've been wrongly or unfairly charged but if you've gone into arrears the fee's probably due. Sorry to sound like "The Man" but you entered into a mortgage contract and the arrears fees are part of that.

FSA regs say businesses should Treat Customers Fairly which is a bit vague in my book. if you've got an existing arrears balance that you're consistently reducing each month by an agreed arrangement/overpayment it would be a bit unfair for the lender to continue to charge arrears fees and you could ask them to waive them in light of the good behaviour.

Also the fees are usually disclosed in a fees booklet sent out with the offer prior to completion. If they weren't you could argue this, but its a difficult one to get argue as these docs normally go out automatically.

Loads of claims companies are trying to jump on the fees bandwagon of late. Mostly if it's in the offer and T&C's you get sent you are not going to get them back.

Sorry, moody me!!

mustang65

Hiya You

Thanks for the reply, been doing a bit of reasearch on another site, bit conflicting as they said yes you can claim back upto 12 years, and go about it like people did re bank charges as its states in banks T & C re charges but banks paid up in the early days.

I did try re my exit fee when I switched lenders but they quoted their T & C booklet and refused. What do you think????

No I'm not a money grabber. lol. but hate how the little people are getting ripped offf time after time.

_Andy_

If the exit fee was as quoted in your mortgage offer there's nothing to reclaim. Not a 'rip off' at all - it's what you agreed to.

ILW

mustang65 wrote: »

Hiya You

Thanks for the reply, been doing a bit of reasearch on another site, bit conflicting as they said yes you can claim back upto 12 years, and go about it like people did re bank charges as its states in banks T & C re charges but banks paid up in the early days.

I did try re my exit fee when I switched lenders but they quoted their T & C booklet and refused. What do you think????

No I'm not a money grabber. lol. but hate how the little people are getting ripped offf time after time.

What, have the banks got it in for Leprechauns now! Are you one of them?