Mortgage Exit Fees successes and failures

MarkyMarkD

metcalfe101 wrote: »

I re - mortgaged last year from Cumberland Building Society to the Abbey, here is a list of charges that i payed.

Early redemtion Charge -£416.29
Redemtion Admin Fee - £90.00
Deeds Fee - £40.00

Total = £546.29.
The thing is i don,t know how to find out if these charges are correct or not, can anyone help.

They were all correct at the time. It's just that the rules have changed retrospectively!

In any case, early redemption charge is unaffected by the FSA ruling.

RAC & Deeds fee are part of the MEAF, but £130 is particularly low and the likelihood of you getting a significantly reduction in those is small.

Whilst it depends how long you had the mortgage with Cumberland, it's probably not worth claiming.

Eljay_2

:T

Just want to say many thanks, without the guidence from this site I quite possibly could have missed out on the rebate I was entitled to from Cheltenham & Gloucester for the MEAF charge.

I must give C&G, credit,they handled my call with the upmost of professionilism, and to my delight did not require that I write in before they agreed my refund. Which will be credited to my bank account in ten working days (£150). I have also had a name change (happily divorced) and since my account details are the same as they still have,this is not a problem.

I then called Bristol and West, only to be tranferred to an automated message instructing me of the details they require to be confirmed by letter ( thank goodness for the template ) so I am awaiting as to whether I qualify there. I did look at my original contract and it did not specify an admin charge figure, just that it would be reasonable!

When I did redeem the mortgage I was charged £195, is that reasonable?

Well, I guess I will just have to wait and see.

I thought I was as shrewd as Martin, but am so pleased I took the time to read over his tips as I am now going £150 better off for 10 mins of work.


Cheers Martin

Hills_2

Hi

Contacted Intellegent Finance who said that I was not entitled to any refund of the £140 that I had paid. I followed this up with a phone call and asked them to justify the amount charge and low and behold I have been offered the full amount as a "gesture of good will". Dont be put off fighting for what is rightly yours.

Hills_2

Hi

Contacted Intellegent Finance who said that I was not entitled to any refund of the £140 that I had paid. I followed this up with a phone call and asked them to justify the amount charge and low and behold I have been offered the full amount as a "gesture of good will". Dont be put off fighting for what is rightly yours.

Hills::j :T

sibrewer

Well, finally took the plunge & phoned RBS - we changed mortgages a year ago. Phone call took 2 minutes tops - they were extremely apologetic & we have £125 going straight into our bank account - thank you very much!!! Slightly less than some, but it's better than a kick in the head, and certainly better in my account than theirs!
I'm one of the suckers who went down the FirstPlus route as well, so we tried them as well, but they have no knowledge of this (no surprise there then!). Haven't given up on them yet, though - may go down the template letter route instead.

Anybody else tried FirstPlus, or is it too embarrassing to admit to!

Thanks MSE,

Sibrewer

silver_1_2

Sooooooo easy, rang the Halifax number, gave him my roll number.
Kerching cheque on its way to me for £75. Cheaper than a scratchcard!!
Thankyou Martin :j :j :j

sazzysan

Hi,
I checked through my details in my previous mortgage with Natwest and found that they had charged me a "sealing fee" of £225 i phoned them up & was told i was over charged by £140 that was on the monday i recieved my cheque on the friday very fast great work martin keep it up:money:

huxleypig

Easy money - phoned the Woolwich helpline - mortgage changed in May 2002. Should have been charged £35 exit fee, but was charged £95. They are refunding £60 plus interest, totalling £73.25. Why are they not refunding ALL customers, not just those that bother to phone ????

denled

So simple with the Woolwich no problems at all getting £70 back:T

Thanks Martin

nene11

Read about this on your website on 4th May 2007 so I got out all my details from when I remortgaged last year. I paid off the mortgage I had with Bradf and Bingley in May 2006 and found that I had been charged £235.00, this was made up of £175 redemption fee and £60.00 deeds release fee. I rang them the same day and was told to put my concerns in writing. I wrote a letter of a few lines quite simply asking them to 'please refund the money I paid with relation to MEAF' and I just quoted my name, address, D.O.B and the dates my mortgage was taken out and then repaid. I didn't go into any detail as to be honest I didn't really understand everything beind it, and I didn't want to look silly! This was posted on the 4th May 2007. This morning, the 10th May, I have received a letter stating they are sending me a refund of £160!!!! Treats!!! Can't believe it, all that for the price of a phone call and a stamp! My advise is to go for it!!!!!
Thanks very much Martin.