Mortgage Exit Fees successes and failures

macca65

Thankyou Martin!!

I sent your template letter off to LTSB on 10.09.07. I used the information in your spreadsheet to calculate that I was overcharged £190.

Today, 13.09, I received a letter from Lloyds to say that I was in fact overcharged £225, and that this would be refunded plus interest. Cheque to follow.

Now that's what I call service. Not only from Martin, but in fairness to LTSB also - and it's not often you can say that!!

Roll on future post deliveries!! And all this in addition to Scotland's result in France last night!! Och aye the noo!!! :beer:

redhead26

Spurred on by the success of others, I found out the paperwork, phoned Halifax dedicated mortgage exit fees number, spoke to a very helpful chap who asked me a few question about mortgage dates etc.. than said I was owed £110 and the cheque would be with me within 3 weeks, 2 days later the promised cheque arrived! It was banked and used to pay off the last remaining bit on my credit card - freedom at last!!!:j

cooter1965

I decided to try the militant route as when i rang initially they said i would have to write in anyway. I asked northern rock for a breakdown of their original £250 exit administration charge and that if they would not give me a breakdown i wanted my original £250 back plus interest, a total of £291.


Their reply stated their position and that they would give me back the difference between my original contract of £195 and the actual charge of £250. Just £55.

I stuck to my guns and sent them the following:

Dear ____,
In my last correspondence to you I asked for a breakdown of the discharge of mortgage fees made against the above mortgage account. This again you have failed to do.

I feel this is a reasonable request and look forward to your explanation of the £250 charge made. I feel a charge of £50 for redemption of the above mortgage is a reasonable reflection of your costs and that this charge is acceptable.


I was very surprised when in their next letter they offered me the full £250!!!!

thanks Martin....

taking the little miss for a great night out on them....:beer:

momocarol

:j have just recieved a cheque from Abbey for £125,Iam delighted if it wasnt for this site i would have had no idea this fee was refundable.The whole process took less than 3 weeks RESULT !!

bsr_2

I managed to claim back Mortgage Exit charges from Northern Rock recently.

Took out in mortgage in 2000 and sold the house in 2002.

I though they charged me £50 and £250 when I sold the house - but they tell me in their letter it was £140 and I was charges £160 in 2002.

They say I can have a cheque for £20 if I sign the form which says I will not take any other action against them etc...

fox_2

Great advice!

A customer told me he used used your template and got a cheque from Royal Bank Of Scotland for £200!
Will be recomending to all..

cheers martin

realaledrinker

£57.50 refunded from the Portman for the price of a stamp!

Wig

DIRECT LINE Mort 1996 - 2004 from £0 rising to £85

I was annoyed at the time DL told us there would be a fee at completion somewhere circa 2003, they did offer us an "opt out" and said we could have our deeds returned to us (in Dec 2003) and there would be no fee when we finally did complete.

I believe they offered this because the Land Reg went electronic and the deeds papers have no value anymore. Anyway we missed the deadline to say we wanted to opt out of the increase to £85 and we ended up paying the fee a few months later when we did complete.

I believe although I did not officially "opt out", for a company to change it's terms and conditions with no agreement from the customer is completely wrong. And I don't think that a customers lack of response is good enough (morally speaking) for a company to be able to say legally that we agreed by default.

ANYHOO
I was advised to phone Direct line 0845 mortgage CS and choose opt 4.

Gave my account number and asked for the fee to be returned, she took my bank details and said I would be hearing from them by letter. 2 days later I have a letter saying my 85 quid will be returned into my bank account.

5 min phone call costing 30p
2 days later the money was returned.

Job done!

Kardxn

We had 2 secured loans which we paid off early and got a charge similar to the mortgage charge. I contacted the company and asked about the charges they say this does not include them as they state the £335 charge in their fees chart. Surely it cant cost them more in administration costs than a mortgage and why cant we claim this back.

MarkyMarkD

Because the FSA did not set any maximum fee or say any amount was reasonable or unreasonable.

If you have been asked to pay an amount which you agreed up-front, there is no refund due.