Mortgage Exit Fees successes and failures

Noz

windinscalp wrote: »

Hi
Can anyone please shed some light on the situation with mortgages taken out with Birmingham Midshires circa 1987 and closed 2001. My partner is searching for, but currently unable to find her documentation and we know that they became part of Halifax since then. Will we have to go through Halifax or do BM still exist independantly?

Thanks for your help

BM are still a company in their own right, although owned by HBOS - it's still BM you would contact. The big increases in MEAFs started around 2003 so a large refund shouldn't be expected (if any at all) .

algorfa_2

Had a reply from Nationwide, no charges paid, therefore no refund.
Woolwich BACS transfer £44.66.
Still waiting to hear from A & L, Abbey.

MarkyMarkD

waterboy wrote: »

Remortgaged from A&L last year to Halifax, checked what I was charged by A&L and discovered it was £295. I rang last week and they were very helpful - and told me I was due a refund. Today in the post was a cheque for £100 and a statement saying if they did not hear from me in seven days they would consider the matter closed. A two minute phone call was all it took. Just wondering if it is worth trying for more considering the actual cost - any thoughts?

No, it's not worth trying for any more because you are not entitled to any more. The costs are irrelevant. You agreed to pay £195 when you took out the mortgage, so you should pay £195 as you now have.

sharonedwards_2

Thank you for the advice - it was so easy - have just received £100 plus interest from The Woolwich :j

Weemac

Just phoned Lloyds TSB and will be getting a cheque for £61.51 - £50 overcharged plus £11.51 interest. Not bad for a few minutes on the phone - thanks for the advice.

The_Bossuk

I used the template on this site and sent a letter to my 2 previous lenders, Northern Rock and Coventry Building Society. I received a cheque from Coventry Building Society for £100.00 :beer: on a mortgage I took out in 2001 and redeemed in 2006 and a cheque for £20.00:T for a mortgage I had with the Northern Rock that I redeemed in 2001 which I took out in 1998.In both cases I did not have any detail on my loans as I had shredded it, but it is a simple no hassle process and worth the time and price of a stamp. Thanks Martin
:rotfl:

Gracie_Sausage

After reading this article about exit fees, I made a quick call to the Halifax dedicated line and was told that the exit fee should have been £75.00 not the £100.00 which was charged, and they promised to put the £25.00 into my account within 14 days. Although since this call I have found my paperwork and there is no charge listed anywhere for this fee. As I stayed with them when I moved I think they agreed to waver the exit fee, as I seem to recall part of a conversation but it has been so long!! Hee Hee!!:rotfl:

macb238

i phoned mortgage trust to ask about my exit fee and was told that prior to '04 they were not regulated and therefoe were not obliged to refund my money.has any body else had this problem?:mad:

Lizzie_B_4

Hi,

Can anyone clarify this for me. We are hoping to pay off our mortgage next month and have just phoned the Abbey to discuss. Seems they will charge me £225 repayment fee! Because I was daft enough to sign the mortgage offer which states this. Surely, if the FSA have said their charges are unwarranted and the true cost is a lot lower, this can't be right??
The young woman I spoke to was adamant that this would be the charge. Just to clarify - it is not an early redemption penalty.
Not sure where to go from here Any ideas??

Thanks

fuzzy139

Well so far so good , used the phone number on here to call them , they looked up my details from when I got my mortgage in 2000 and when I left them in 2005. There was a difference from £50 quoted and £115 which I paid , so £65 to come back Whilst the guy , who was very helpful and friendly , was putting the info in the system I casually asked about interest , at that point he said he would check with a manager and see. A manager came on the phone and agreed an extra £10 , even though the FSA does not say they have to pay. So a very successful 5 minutes on the phone.

Then I started thinking about my previou mortgage , whuch ran from 1997 to 2000 , so looked that one up ... and it was the halifax again , so called back the difference this time was £40 to £50 so just the £10 to come back ... didnt have the heart to ask for interest this time ...LOL..

They said I should have both cheques within 28 days.

Thansk to MSE who made it so easy.

Shaun