Mortgage Exit Fees successes and failures

s1mon_2

Update on this, the cheque from the Halifax arrived on Saturday morning. So 3 days from phonecall to fee refund!

In response to the query about what I said to the Halifax, I just said that I wanted to review the mortgage exit fee that I paid last year when I paid off my mortgage. The lady then found my account on the computer, compared what I paid to what I agreed to when I took out the mortgage, and said that I could receive a £75 refund. No further prompting from me required.

Hope that helps,

Simon

s1mon wrote:

Following todays Money Tip, I phoned the Halifax on their normal mortgages number. 08457 27 37 47 Option 3 gives you the menu with the choice to discuss the FSA announcement on exit fees.

I didn't have my roll number to hand, but they found my mortgage details through my current account with them. A £75 cheque should be with me within £28 days.

The lady I spoke to said they are having a lot of calls about this subject...

Simon

choccy33

hi. can anyone help?? We remortgaged in 2005 to get a better deal . we stayed with alliance and leicester as their deal was good at the time.However, looking back at paperwork they charged me £395 as a "product switch fee" . Does this count as mortgage exit admin fees(meaf) or not?Would like to have some advice before i phone them!! Thanks to anyone that can help!!

snowy62

Following Martin's advice, I found I had been charged a mortgage exit fee of £275 by the Woolwich when I remortgaged just over 2 years ago. I wrote to them using his template letter on 2nd Feb quoting my previous mortgage account number, and received a reply on 10th Feb saying that all I needed to do was phone a given number with my bank details and my account would be credited with a refund. I did this, and a refund of £80 plus £1.09 interest is being credited to me in 5 days. Thanks Martin! :beer:

isayoldchap

Made a quick call to the Woolwich 08000234180.Redeemed Jan 2003.Should have paid £30 she said instead charged £95.
Refund of £65 plus 4% intrest pa she said straight into bank account.Letter to confirm withih 5-10 days.Thanks Martin

The Britannia BS are taking 4 weeks to investigate my other enquiry.They may be holding out for 28/02 debate

zooropa

Halifax Standard Life and Bristol and West

Halifax took five mins, they are really on the ball. I took a mortgage out with them in Sept 96, redeemed it Sept 99. Overchaged £35 - not huge, but well worth an 0845 five min call. I must say I am really impressed with them.

Standard Life are investigating;I paid them £150 so I hope to get up to £100 back. Bristol and West will not take application until March 1st, but again I paid them £150.

I would encourage everybody to do this - 20 minutes on the phone in total and a possible couple hundred quid refund. Good luck to you all!

heccus

Hi,

I had a mortgage for a short timewith IF - taken out in May 2001 and redeemed in August 2002. I can't find my paperwork!!
Does anyone know if they charged an exit fee and if so, how much it was?

Ta very muchxxx:

ela

Just rang the Woolich, I thought this would be hard, after 3 minutes I have £182.30 going into my back account after a recent remortgage with them.

Many thanks Martin

crazy_horse_uk

We switched to the Coventry BS in May 2004 and were overcharged £130. Rang the free phone number 0800 0234180 this morning and we're getting £145.28 (inc interest) paid straight into our account. Fastest money I've ever made, and a free phone call too!

I've been spending this morning telling everyone at work.....

chuk

agal

Another vote for the effectiveness of the Woolwich dedicated helpline - £180 + interest on the way. The young lady on the phone sounded a bit depressed, but I'm not!

Just checked - the money has already reached my account, so "same day" service!

laptopcalgary

I'm in the process of tranferring my mortgage from the Yorkshire BS to the Britannia BS. I completely forgot just how much paperwork was involved having been with the YBS for almost 13 years! Trawling through the paperwork I came to my original mortgage offer in July 1994. I looked through this trying to find out what redemption fees I would have to pay. I thought that there would be a small admin charge to release my deeds etc but I could not find any figure quoted. There was a reference made to 'the notes accompanying this offer' and to my amazement I still had these! Again there was no figure given. Now as this mortgage offer formed a contract I would have to argue that, in my case, there is no fee to pay.
When I contacted the YBS to confirm what charges would be made the employee there told me I would have to pay the current rate of £199. I said that I was not happy, the representative then said a decision was to be made on Feb 28th. I told him that this was irrelevent as it could not effect a contract taken out 12 and a half years ago. I let him ramble on a bit then finally admitted that I still had the original documentation and nothing could be found in it relating to these charges. I assumed that the YBS would have a duplicate copy so I asked if someone from the YBS could contact me after having checked it out. I also offered to pay a fair current rate for the work involved in releasing my deeds. Needless to say I have not yet been contacted! I need this sorting asap as my remortage takes place on 01/04/07 - how appropriate!