Mortgage Exit Fees successes and failures

geendee

Hi

Can anyone let me know if they have declined their refund they have been offered? I notice that it says that some have said no for a full refund.
I have been offered £80 in total from northern rock.

Changed type of mortgage with them in 2004 and changed from them last year.

Could anyone tell me if they have been successfull or am i just being greedy!

Thanks

dunstonh

I notice that it says that some have said no for a full refund.

Most if not all say no to a full refund. Yiu are not entitled to a full refund. Just the difference.

geendee

Hi, thanks for letting me know.

jussyc

ha ha just my luck,must be the unluckiest person on here rang Birmingham midshires who told me i owed them £15!!!but as it was from 2004 they would let me off!!!!however got a £10 refund from Halifax so not all bad,
i would defo recommend people try it though as it was so easy i didnt think they would have a clue what i wastalking about but they are very savvy about it Halifax were great as i couldnt remember when i took it out or redemeded it didnt have any info at all, no a/c no just my name and address and they were very helpful
so im £10 better off for 2 mins work!!

Leytong

They charge £140 exit fee and refuse to pay back, as they originally state in the mortgage paperwork that you will have to pay this fee. You've signed it and thats that apparently. Let me know if you get any further luck.

nonk

made a call to tel no on web site. waited for a call back. 1st offer was for £115 i passed on the info from your site and they came back with an offer of £140. i was happy with that. it was a £225 exit fee by the way. they also informed me they no longer charge exit fees. so thank you all

Fogg1969

Phoned Barclays earlier on the number listed on this site.

It was no hassle whatsoever, "yes, we did overcharge you £210, and we owe you over £10 in interest too" I gave them my sort code and bank account # for the refund to be paid into, and I'll have the cash in a day or two.

Mr Martin Moneysaver... you're a star! Thank you!!

lg74

After only recently finding MSE and reading the articles on MEAFs I dug out my old paperwork and sent off some letters.

Skipton had charged me £75 MEAF but their new fees are £45 so a £30 cheque there, and even better - Abbey had charged me £225 and new fees were £99 - so a success from 2 sources of £156 in total.

Now going towards my holiday fund!!

Next step - PPI claims!!

Thanks MSE

geoffH

Just saw Martin on the Wright Stuff.....still wearing that striped shirt I see!

Called the Halifax straight away, didn't have any of my docs but just gave them my address and month and year of redemption. They checked their details and a cheque for £75 is on it's way!

Excellent.

id10t

I sent the following to Mortgage Trust (formerly First Active)




After the recent FSA statement on Mortgage Exit Administration Fees (MEAFs), I am writing to complain about the charge on the above account when I exited my mortgage contract with Mortgage Trust Ltd.
In particular I note that the FSA stated “if a past customer who has paid a higher MEAF to exit complains, he or she can expect a refund of the difference between the actual MEAF paid on exit and the original MEAF.”
At the time I entered into my contract I believe the fee was in the region of £25 (under First Active), however, the fee had increased to around £225by the time I closed the account (then Mortgage Trust).

Additionally, I have calculated interest of £64, 8% has been used as this is the rate the courts use for statutory interest, and therefore ask that you repay me the amount of £264.

I look forward for a full response to this letter within 14 days.


No more than a few days later I got a cheque for £115.00 the reply:

Thank you for your email. Your request for a refund of fees incurred during the redemption of your loan has been reviewed in light of the recent FSA statement.

The statement made by the FSA, however, relates only to loans regulated by the FSA.
Unfortunately, your loan does not fall under the jurisdiction of the FSA and, therefore,
there is no obligation to refund the amount requested,

We regularly review ...blah..blah,
However, as a gesture of goodwill we will refund the amount of £115.00 which is the
difference between the amount charged at redemption and the fee tariff in operation
at the time the loan was taken out.