Mortgage Exit Fees successes and failures

MarkyMarkD

Feline-Fan wrote: »

Sorry to be thick - but is a mortgage exit fee the same as a Repayment Fee?
Only we changed our mortgage last Sept and Abbey (been with them since Dec '92, so not on any special deal or anything), charged us this, (£225), so am not sure if I am going to try and claim back the right thng?
Do I just ask what was on my original contract and they'll refund the differnce - annoyingly shredded all our old mortgage stuff, a few weeks ago, so haven't got evidence of what we agreed to pay in original contact!

Please explain exactly what you did last September? You say "changed our mortgage" but £225 certainly sounds like an MEAF. Did you actually move house? Or remortgage to a different lender from Abbey?

fleetingmind

Hi Sorry if i'm a bit dim.

I got a mortgage with Standard Life in 2004 and the redemption discharge fee was £150.00. Over the years since, the statments i got from SL gradually increased the fee to £200.

When i left Sl to go to Abbey in March this year i paid I think £200. So i'm entitled to £50 back is that correct?

Is this all to do with the fact they quoted an orginal fee then changed it without consulting the customers or is it bit like the bank charges where anything baove say £50 is not allowed.

Many thanks.

Scott

Is this all to do with the fact they quoted an orginal fee then changed it without consulting the customers or is it bit like the bank charges where anything baove say £50 is not allowed.

Yup, it's just the fact they've changed it from the original agreement that's in the spotlight, not the actual costs. You'd be able to reclaim any change between your last contract and your redemption.

dunnomate

Why are people complaining about 200 quid fees, its not like its thousands !

cheers

algebrafreak

3 min phone call £150 cheque promised in 4 weeks - easy peasy - thanks Martin:T

mrnomoneybags

I sent the letter to northern rock about 3 months ago and they send me a normal reply saying there happy with the fee. so they sent me nothing.

That the fact that Northern Rock have now removed there fee does this mean i can try again?

thanks

-Tom

cordelia3412

Very easy - 3 minutes and I've got £25 back. Not much but still worth it. All I needed was my roll number.

Fantastic!

Teresa_Strange

SUCCESS

Just rang the Halifax and they just said they would issue a cheque for £100 straight away. They are only paying back the difference on the £175 charged as Repayment Admin Fee, not the £50 deeds release fee.
Thanks Martin Lewis and the Money Programme!

geegee1_2

I called A & L, i wasnt sure what my origional exit fee was, but i know that i paid £295 when i changed my mortgage... they said they will raise it as a complaint , look into it and, i should have a reply within 7 days, i recieved a cheq for £100 within a week....
Halifax
I also did the same for my sister with halifax, spoke to a really nice guy there, and he said she will have a cheq within 28 days....

Thanks Martin :beer:

Feline-Fan

MarkyMarkD wrote: »

Please explain exactly what you did last September? You say "changed our mortgage" but £225 certainly sounds like an MEAF. Did you actually move house? Or remortgage to a different lender from Abbey?

Hi Marky - Sorry, yes, we re-mortgaged to get a better deal with another lender - are now with Scottish Widows. As I say annoyingly have shedded old mortgage papers, so have got no evidence of what we agreed on our original contract - back in Dec '92