Mortgage Exit Fees successes and failures

Noz

STAGEMAN wrote: »

can anybody tell me why we are charged an EARLY REPAYMENT CHARGE? which is usually thousands of pounds.
It appears we are being PENALISED for paying / redeeming ahead of time. this just cannot be right.

Yes, in fact there is a thread dedicated to it: http://forums.moneysavingexpert.com/showthread.html?t=507591,
MarkyMarkD's post in particular: http://forums.moneysavingexpert.com/showpost.html?p=5813977&postcount=9

s.kennedy_2

enquired to royal bank of scotland about a refund from a previous mortgage exit fee, 5 minutes later getting refund of £150, no problems at all very polite telephone call well done rbs

wirehair

I sent draft letter to A & L last week and today recieved a cheque for £155. Thanks Martin :beer:

STAGEMAN

Noz wrote: »

Yes, in fact there is a thread dedicated to it: http://forums.moneysavingexpert.com/showthread.html?t=507591,
MarkyMarkD's post in particular: http://forums.moneysavingexpert.com/showpost.html?p=5813977&postcount=9

I've just got off the fone to GMAC RFC. I wanted to find out if I had a claim to £115.00 which they charged me as "Redemption Admin' Fee".
I Gave my account no' etc' and after a short while, I was told the fee at the start of the mortgage was £115.00 she said it went up during the contract to £135.00 but, it was (miraculously) back down to £115.00 when I redeemed the mortgage. Consequently, no refund is due. I still think that £115.00 to get some bimbo to press a couple of buttons, and even the cost of the paper, recycled or not, is way too much extra to pay. :Just for the info record, stay away from GMAC RFC, they are not people you want to do business with.
I had to get the FOS onto them coz' they wanted to charge me a fee for a bank hol' at my redemption, 'coz they were SHUT. I had to pay to close the contract but, I GOT IT BACK THOUGH. (took 3 weeks)
Any one had any dealings with First National Mortgage Services, they are another load of CLOWNS.
STAGEMAN:mad: :mad: :mad:

clarobbo

wrote to northern rock monday to request difference back from our exit fee didnt really know what i was doing just used the template off the website got letter back 2 days later asking who i want my cheque for £50 to made payable to xxxcheers martinxxx:j

msloaded

My success story: Left Abbey last October (2006) and had to pay an exit fee of £225 which I queried at the time and was advised that the fee was correct. After hearing about the exit fees I quickly called my bank and they were instant in forwarding me the relevant form to fill in and return to them. Having sat on it for a few months I finally posted the form last Thursday. I was surprised to receive a cheque for £140.00. My, I didn't think I would receive that much if anything. It brought a smile to my face I can tell you.

Drama_Queen

I approached C&G today with no idea what I paid, what my mortgage number was etc. The very nice lady on the other end of the phone went through everything with me and stated that because we had taken out 4 separate borrowings on the mortgage since it's inception in 1996, that we should have actually paid £160, but only paid £100. (I had no idea we had remortgaged so often! - "We" being my ex now...). She did investigate further on the phone and said that my agreement stated £40 charge for repayment, but she also stated that the £40 was for each part. She went on to say that they don't do it this way any more, it would only be one fee as they would consider it to be one account. When I asked for my number/s I was only given one, which I wrote down. Meanwhile, I have asked her to ensure I receive a breakdown of the £100 charge and to highlight where costs were duplicated for the 4 separate borrowings....anyone had anything like this?

Vickie_3

Hi,can anyone help.On monday the 23rd of July we paid off out morgage.The
mortgage centre informed me we have to pay £225 for a redemption statement if we do not get a redemption form then our mortgage will by them still be running.I must be thick as how on earth can we still have a mortgage when it is paid in full.Have checked our mortgage it says one months notice to be given to close mortgage they got longer.Also on the agreement there is no fixed price so do we have to pay the £225.Any information will be welcomed.What was meant to be happy time they have dampened it.Morgage has been paid off 2 years & 1 month early we have had to fight them all the way as they kept trying to reduce our payments.The bank is the royal bank of scotland.

Vickie_3

Hi,can anyone help.On monday the 23rd of July we paid off out morgage.The
mortgage centre informed me we have to pay £225 for a redemption statement if we do not get a redemption form then our mortgage will by them still be running.I must be thick as how on earth can we still have a mortgage when it is paid in full.Have checked our mortgage it says one months notice to be given to close mortgage they got longer.Also on the agreement there is no fixed price so do we have to pay the £225.Any information will be welcomed.What was meant to be happy time they have dampened it.Morgage has been paid off 2 years & 1 month early we have had to fight them all the way as they kept trying to reduce our payments.The bank is the royal bank of scotland.

vodkafreak

msloaded wrote: »

My success story: Left Abbey last October (2006) and had to pay an exit fee of £225 which I queried at the time and was advised that the fee was correct. After hearing about the exit fees I quickly called my bank and they were instant in forwarding me the relevant form to fill in and return to them. Having sat on it for a few months I finally posted the form last Thursday. I was surprised to receive a cheque for £140.00. My, I didn't think I would receive that much if anything. It brought a smile to my face I can tell you.

Have just paid £225 exit fee to Abbey for a remortgage in April this year . I originally took out the mortgage with Abbey in March 2005 & the fee then was £225. Are you saying that Abbey paid out even though the fee was agreed at the time?