northern rock taking more money than they should

fatblokexl

i have just completed on a new home and redeemed my existing mortgage with northern rock and took up another mortgage again with them.
the final redemption figure was higher than i was led to believe (did some very rough calcs on what i should have left after sale and paying fee's etc) and upon calling them it turns out i was charged early repayments charges when i shouldnt have.
£2900+ in all was charged to much.
i am getting this back but imagine how many people may not be aware of this and have unwittingly lost ££££'s

dwight-van-man

NR policy on refunding ercs for porting cases is that the penalty is refunded within 14 days of completion. If sale and completion are same day the erc can be noted on the redemption statement but not physically charged, although sometime this is overlooked as it is dependent on the porting processing people informing the redemptions team, meaning you still have to wait the 14 days. The number you need to hurry it up is 0191 279 4828

arnie&caseysma!

But if you are not porting the same mortgage with them but taking another of their products over a different term etc you pay back 50% of the early redemption fee plus the £1000 help with costs that they give you.

I am in the process of this myself, if I had stayed on the same 3 year fixed and ported it to my new house I would not have had to pay the ERF and HWC back, but as I am changing to a 5 year fixed with them I pay back 50% plus the HWC.

Penalised for staying with them I know but it would have been a lot more than that if I was to change company.

fatblokexl

arnie&caseysma! wrote:

But if you are not porting the same mortgage with them but taking another of their products over a different term etc you pay back 50% of the early redemption fee plus the £1000 help with costs that they give you.

I am in the process of this myself, if I had stayed on the same 3 year fixed and ported it to my new house I would not have had to pay the ERF and HWC back, but as I am changing to a 5 year fixed with them I pay back 50% plus the HWC.

Penalised for staying with them I know but it would have been a lot more than that if I was to change company.

i was porting to the same product but at no stage other than the original telephone call i had to ask about a new mortgage was there any indication any overcharge would get repaid.
when i had the final fee's bill from the solicitor i noticed the shortfall and called NR straight away and the girl i spoke to appeared shocked that i was charged the ERC + HWC at all.