Mortgage Exit Fees successes and failures

Rach66

I heard Martin on radio 2 today and thought it'd be worth giving Lloyds a quick call. I changed my mortgage lender nearly 4 years ago and paid a redemption penalty, but didn't know there were these exit fees too. They were extremely helpful; it took 5 minutes and I've been told I'm entitled to £50 plus interest!

Thanks Martin :beer:

sootie_2

hi, has anybody claimed exit fees from r.b.s with success?

babalugatakeabet

Just read this thread about two hours ago and thought worth checking my documents.

Lloyds mortgage charged £225 when initial documents indicated £100. A phone call which lasted no more than 5 minutes and I am refunded £125 + £4.96 interest.

Abbey national checked that I was charged £99 when it seems it should only have been £50 according to my initial documents. Line now closed so I will try again first thing tomorrow.

Many thanks Martin you have made my weekend.

kimnhol

Thanks Martin claimed back £30 from GMAC today, :j need letter of change of address to be sent to them and cheque will be sent by return. Not bad for 5 minute phone cal :T

Pocoyo

Phoned the Halifax Monday, received a cheque for £125 Wednesday. Thanks Martin.

MarkyMarkD

totally_confused wrote: »

As I stated in the other thread, I was charged both a product fee and a switching fee by A&L in 2005 amounting to £745 - to stay with the same lender, surely I would be able to claim some of this back...

This is not an MEAF. This is a mortgage product fee/switch fee which is outside the scope of the FSA ruling.

Lenders can charge you anything they like as an up-front fee for a mortgage product AND for switching between mortgage products. If you choose to take the product, or make the switch, you have to pay whatever they ask.

Exactly as I said before. You can't claim things back just because you feel like it. Switching products is a privilege, not a right, and if you choose to switch you have to pay whatever the lender asks. If you don't want to switch and pay the fees you have two alternatives:

- pay the lender's SVR, which means you'll pay way more than (in your case) £745 over the remaining life of the mortgage; or
- redeem, pay the lender's MEAF (whatever that is), the costs of remortgaging elsewhere, and the new lender's product fees.

Tesco_points_addict

Thanks Martin (and Claire the friend that rang me and told me to try!) Just phoned Barclays on their free phone number and have been refunded £80 + interest at 4% £3.06(every little helps!!)
Even better the money is already in my account - they transfered the money to my current account.
When I rang I had no idea how much I had orginally been quoted(!) but turns out all I needed to know where my own personal details and the mortgage number.
Go for it guys!!
P.S Have just sent a letter off to the Abbey to. Mortgage taken out in (Oct)2002 and changed in 2004 anyone any ideas what the charges may have been on both these dates?
:money:

Dad rang and got over £100 and also work collegue got the same!! I love this site!

Maisie_Miss

kimnhol wrote: »

Thanks Martin claimed back £30 from GMAC today, :j need letter of change of address to be sent to them and cheque will be sent by return. Not bad for 5 minute phone cal :T

Always nice to hear of a success!

Can I be really rude and ask whether that was an overcharge amount, or the total amount you had paid them? The reason I ask (and I apologise if I am doing this in the wrong place) is because GMAC charged us a £115 fee when we changed mortage from them a couple of years ago, but when I checked our contract, there was nothing mentioning any fees, let alone how much they would cost. Therefore, would I be right in thinking that I could claim the whole lot back?

daveski

I have just rung C&G having paid a fee of £225 last July. 5 mins later im informed that i was overcharged by £45 and that they would add interest for the 11 months since i switched £2.17.

Total: £47.17 for a very short call, and it sure as hell is better in my pocket than in the banks coffers!!!

Happy days, that's a way to start the weekend.

parker01

Hi,

I have just received a cheque from West Bromwich B.S. for £200, as my exit fee went from £126 to £326 when I left them!

I also reduced my exit fee before I left Abbey from £225 to £99, saving of £126.

I also got a cheque back from Northern rock for £20, but I am sure they charged me more than that in exit fees!

Overall I am quids in.

My Husband and I am waiting for a response from Portman Building Society (Staffordshire B.S.) as they have taken the longest to reply.

Persever to get your money back.