Mortgage Exit Fees successes and failures

donypops52

I switched from Abbey to Capstone 2 years ago, we received a cheque for
£126.00 with in a week of requesting a refund

msbunt

We paid our mortgage off with Bradford & Bingley in January 2004.
After receiving Martin's newsletter two weeks ago about the FSA ruling I quickly got all the relevant facts together and sent off a letter to their Customer Relations Dept.

The response we got was as follows:-

"The £140.00 which you incurred on redemption, is our redemption fee. We are able to charge for administration in line with any tariff of charges we set. The conditions of your mortgage allow us to vary our fees at our discretion.
We have increased these fees in recent years to reflect the increasing costs we face as a business. I would accept, however, these charges are now significantly higher that when you agreed to your mortgage. In recognition of this, I am happy to make a concession in this instance.
When you took your mortgage with us the redemption charge was £75.00.
I feel it is reasonable that a charge of this amount should be payable in line with your agreement to our terms and conditions in 1998.
As a result of this you'll receive a cheque refund of £65.00. This concession is offered as a gesture of good will and in order to come to an amicable resolution."
Only £65.00 but nevertheless £65.00 more than I would have had if I hadn't subscribed to Martin's newsletter.

What a fabulous website.
CHEERS MARTIN!!!

ethlea

Hi,

Never posted b4,but thought I'd let you know my success story.

Remortgaged last Sept as my deal with Woolwich came to and end,and stayed with same lender but got charged.Called them last Friday and they've already refunded me the cost - didn't think it would be that easy.

:beer:

galagirl

I just want to thank Martin for bringing the whole MEAF thing to my attention, sometimes it does pay to watch GMTV!

I wrote to my past 3 mortgage lenders, Intelligent Finance - told me that their £140 was fair and I could take it to tribunal, so I did not hold out much hope for the other 2. (But I have just read another thread of someone pestering them and they did get back the whole £140 so I may do the same!!)

The Leeds were next and there was a cheque for £75.00 (we had moved from them this year and paid £199, so I thought £75 was a bit measley, as I feel £124 for a bit of admin is extortionate!).

I had given up on Standard Life ever replying, they charged me £150 back in 2003 but I eventually got a reply with a cheque for £200.00, not bad for 3 letters!

Better in our pockets than theirs!
Cheers:beer:

marrtian

Wrote to Bradford and Bingley about over charging of redemption fee. And as a goodwill gesture they are refunding me £160. Which is the difference between the £235 we paid and £75 quoted when taking out mortgage

Muddle_2

Success! Rang Halifax (using geographical number). Gave them my name, address and roll number. The adviser confirmed that I was due £50 back from the last mortgage we redeemed in 2004 and £10 from the one prior to that. The Halifax representative was pleasant and helpful. 2 weeks from making the phone call £60 is now in my ISA. Thank you Martin.:T

chestnuts

Thank for bringing this to my attention - moved house late 2005 and had a mef of £150 from Cheshire BS.
I posted a letter to them last Thursday, and received a cheque Saturday for £90.00. They confirmed they had been 'reviewing our mortgage administration fees to ensure our terms are fair to out members'.
Well worth a stamp!
Thanks Martin and Co.

pansy_potter_2

Thank you for your article. I paid off my mortgage in October 2006 and was charged £275 for the priviledge. Upon telephoning the Woolwich I was told that I would receive a full refund plus £6.34 interest. Thank you again.

roses

I started my mortgage with Halifax in August 2003 & transferred to Nationwide in August 2006.

Got a £100 cheque from Halifax this morning.

twhitehead

Partial success with C&G. Daughter had mortgage with them about 4 years ago and then changed to another society When I told her to claim back anything going off C&G she rang them up and they said she was due a refund of £170 (approx). She had not kept any details of what she had been charged but just quoted her mortgage account number and so was overjoyed. Two weeks later nothing had happened so she rang them again and was told the money had been returned to her bank account, which of course, she had changed and that account is a dead one. C&G are 'looking into it'