Mortgage exit fee - Bank of Ireland (2007)

benroles

Hi All,

Just looking for some advice. In 2005 I took out my very first mortgage with Bank of Ireland. When the fixed term expired in 2007 I moved to Halifax. However, I was charged a £195 mortgage exit fee (NOT a redemption penalty as I was out of the fixed term). This amount does mirror what is written in to my contract at the time, although I note now they actually no longer charge this fee (according to their website).

Having a look around I see there were some problems identified with mortgage exist fees. Probably a long shot given the amount ties with my contract etc. However, since money is tight and every little helps, do I have any basis to try and reclaim any of this £195 amount?

Thanks for your help!
Ben.

dunstonh

However, I was charged a £195 mortgage exit fee (NOT a redemption penalty as I was out of the fixed term).

That is a redemption charge. The charge related to leaving a deal early is an early repayment charge - ERC.

do I have any basis to try and reclaim any of this £195 amount?

no. it was in your contract and you paid the amount stated in the contract.

roonaldo

benroles wrote: »

do I have any basis to try and reclaim any of this £195 amount?

not in the slightest, mortgage fee's are not illegal.