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Mortgage Charges refunds?

cruicky_2
cruicky_2 Posts: 5 Forumite
in Mortgages & endowments
I heard on the news this evening that mortgage companies have been ordered to repay some of their fees that they have charged for changing mortgages and finalising them. One mortgage company has set aside millions of pounds to pay back fees. This has been ordered by I think the Financial Ombudsman or such like, does anybody know the facts as I have recently paid off my mortgage(woopee!!!) but I was stung for rediculous admin fees by the Halifax. Perhaps Martin could do a "Bank Charges" on them!

Comments

  • MSE_Martin
    MSE_Martin Posts: 8,268 Money Saving Expert
    Part of the Furniture 1,000 Posts Combo Breaker
    It's half done- it'll be in the weekly email
    Martin Lewis, Money Saving Expert.
    Please note, answers don't constitute financial advice, it is based on generalised journalistic research. Always ensure any decision is made with regards to your own individual circumstance.
    Don't miss out on urgent MoneySaving, get my weekly e-mail at www.moneysavingexpert.com/tips.
    Debt-Free Wannabee Official Nerd Club: (Honorary) Members number 000
  • pdpped
    pdpped Posts: 18 Forumite
    That was quick, Working lunch only said at 13:00 today 26/1/07 that the FSA had decided Redemption Administration charges are unfair and we can claim them back. Time to get some money out of the bank again!!!
  • UK007BullDog
    UK007BullDog Posts: 2,607 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Well we are not yet quite there yet.

    Have a read here: http://www.fsa.gov.uk/pages/Library/Communication/PR/2007/012.shtml

    We should know more by the 28th of February.
  • MarkyMarkD
    MarkyMarkD Posts: 9,913 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    pdpped wrote:
    That was quick, Working lunch only said at 13:00 today 26/1/07 that the FSA had decided Redemption Administration charges are unfair and we can claim them back. Time to get some money out of the bank again!!!
    With respect, pdpped, that isn't what the FSA said at all.

    They said that excessive increases in MEAFs are unfair and that there's potential for partial refunds for some customers (who've already redeemed) and effective caps on the amounts other customers (who've yet to redeem) will pay.
  • WISHIWASRICH_2
    WISHIWASRICH_2 Posts: 222 Forumite
    Many thx Martin....Your a star:money: ;) :j :D
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