Mortgage Exit Fees successes and failures

grunhilde

My mortgage was with National & Provincial - which transferred when Abbey took them over. I redeemed the mortgage last year and paid their fees which had just been increased.
I sent in the standard letter and got a short from to fill in - which I did and returned to them - and almost by return received a cheque for £175.
Thanks :T :T :T :T :T :T :T :T :T :A :A :A :beer:

I am now going to be militant with Woolwich who wish to charge some exorbitant amount to redeem my current mortgage - I will keep you updated with any progress and if I get anywhere.

tiredycustard

I was refunded just over £100 by Woolwich (Barclays). The lady on the phone was very helpful and they even paid me back interest:j

chrissybiscuit

I dont know if i should laugh or cry about my experience i wrote to the abbey as per step one template. they sent me a form which was easy eneough to complete abbey wrote me back asking for some more information as they said they couldnt find my records so i sent a copy of a bank statement with a covering letter this contained my mortgage account number i then waited another week and yet they sent out another form along with a complaints leaflet enclosed stating for me to complete another form about specific dates i took the mortgage out and when it completed i then sent it off with another covering letter to my dismay in the post this morning i recived a payment i was rubbing my hands with excitement untill i opened the envelope it was for :eek: :eek: £4.00.all that effort i spent more in recorded delivery postage.

MEG22

I swapped my morgage in January 2007, the early repayment fee was £3,200 which i paid. I wrote to the morgage company after taking Martins advice and heard nothing for weeks, infact i forgot all about it.. Then i get a letter just saying 'please find enclosed a cheque for £645'. BRILLIANT...
So i decided to send them another letter saying, thankyou for the cheque but wheres the rest of the money???
Not heard anything yet but will keep you informed..

Noz

MEG22 wrote: »

I swapped my morgage in January 2007, the early repayment fee was £3,200 which i paid. I wrote to the morgage company after taking Martins advice and heard nothing for weeks, infact i forgot all about it.. Then i get a letter just saying 'please find enclosed a cheque for £645'. BRILLIANT...
So i decided to send them another letter saying, thankyou for the cheque but wheres the rest of the money???
Not heard anything yet but will keep you informed..

Meg what advice, this is the only advice I've seen Martin make on ERCs:

[FONT=arial,helvetica,sans-serif]MEAF's are commonly confused with 'early repayment fees', also known as 'redemption penalties'. They're not the same thing, and this ruling doesn't apply to redemption penalties. To clarify:[/FONT]

• [FONT=arial,helvetica,sans-serif]Early Redemption Penalties can't be reclaimed. These are charged when you repay or switch mortgage during a special deal, such as a fixed or discount rate (see the Mortgage Guide / Remortgage Guide for details).[/FONT]

Though well done on making your lender play ball.

alocins

I took Martins advice and sent off a copy of his letter to the Coventry BS, Received a Cheque for the £100 we overpaid! They state that they don't pay interest so we are thinking of writing to ask for it again as other people seem to have got it from them, anyone got any thoughts on this?!

Jim_Scott

I have just received word from my mortgage lender Bristol & West.
I will not have to pay the £150.00 meaf but will revert to the original amount £5.

Thanks Martin!!

Noz

alocins wrote: »

I took Martins advice and sent off a copy of his letter to the Coventry BS, Received a Cheque for the £100 we overpaid! They state that they don't pay interest so we are thinking of writing to ask for it again as other people seem to have got it from them, anyone got any thoughts on this?!

There's no duty for them to do so, but there is no harm in trying

CelticStar

Got £50 back from the Halifax just by making a phone call - our fee was pretty low - I think it was £125 in 2004 - and I hadn't expected to get anything so it was a nice surprise. Thank you Martin.:beer:

splish

Wrote to Northern Rock re 'Discharging Mortgage' fee charged for Mar 1992 and Apr 2005. Was first offered £90 which I disagreed with quoting interest and the fact I feel the person responsible should be jailed and 2 other points. Received a reply restating the £90 but no answer to any of my points, just the usual smoke screen talk. Decided I would'nt get any further so said I would agree to the refund but told them I was still not happy. Surprisingly Northern Rock replied stating they would refund the total £250 charged for 2005 and £35 charged for 1992. Thank you:money:

splish:beer: