Mortgage Exit Fees successes and failures

armybike

Just phoned Royal Bank of Scotland, without any account details, but they soon tracked them down.

They stated that when I originally took out the mortgage the exit fee was £50, however I was charged £75, so they're forwarding the difference to me!?!

Clearly not the largest refund given having read some of the other replies, but it's still £25 in my back pocket and not theirs!

Cheers Martin for highlighting this.

P.S. If anyone is going to contact RBOS their geographical telephone number is - 01475 551000.

albo_3

After taking advice from this site, phoned the A&L direct to ask for my MEAF to be repayed, explaining that on exit in 2005, felt that £295 fee too high, although willing to pay some admin. costs.

Two weeks later received cheque for £100, letter stated that if still not happy, then contact them within the week. This I did, thanking them for cheque, but that £195, still too high to pay as admin fees. Advisor stated that this was all FSA suggested that they had to pay, but would consider my complaint. Two weeks later further cheque arrived for £195!!!

Therefore full £295 refunded. Great result! Give it a go and take advice as directed on this site. Thanks Martin:T :beer:

j69ant

I was on a 2 year fixed with Nationwide, which expired in August 2006

When i went to renew ( i stayed with Nationwide because they offered the best interest rate ) i was told i had to pay a £300 admin fee because i had come to the end of my term. I then took out another 5 year fixed, but was told i had to pay the £300 either way

I wrote to Nationwide a month ago who have confirmed that my admin fee for mortgage redemption is £90 but i havent been charged this becuase i "my account is still open"

Anybody else had this issue ? I have tried to speak to them on the phone but ive gone round in circles .

Cheers

melorac

albo wrote: »

After taking advice from this site, phoned the A&L direct to ask for my MEAF to be repayed, explaining that on exit in 2005, felt that £295 fee too high, although willing to pay some admin. costs.

Two weeks later received cheque for £100, letter stated that if still not happy, then contact them within the week. This I did, thanking them for cheque, but that £195, still too high to pay as admin fees. Advisor stated that this was all FSA suggested that they had to pay, but would consider my complaint. Two weeks later further cheque arrived for £195!!!

Therefore full £295 refunded. Great result! Give it a go and take advice as directed on this site. Thanks Martin:T :beer:

Wow... Cant believe that your received a full refund. I am awaiting a reply from A&L. I used the draft letter from this site for my initial complaint. I will wait to see their response from that and maybe follow your suggestion.
Thanks

MarkyMarkD

j69ant wrote: »

I was on a 2 year fixed with Nationwide, which expired in August 2006

When i went to renew ( i stayed with Nationwide because they offered the best interest rate ) i was told i had to pay a £300 admin fee because i had come to the end of my term. I then took out another 5 year fixed, but was told i had to pay the £300 either way

I wrote to Nationwide a month ago who have confirmed that my admin fee for mortgage redemption is £90 but i havent been charged this becuase i "my account is still open"

Anybody else had this issue ? I have tried to speak to them on the phone but ive gone round in circles .

Cheers

As is stated in the original article that this thread is about, AND dozens of times in the thread itself, fees charged for selecting a mortgage product either up front or on switching are entirely legitimate and completely irrelevant to the FSA's ruling on MEAFs.

Neither you nor the poster after yours has any basis for a claim.

pinkgoldfish

Hi,

I had a mortgage with HMC (who were taken over by First National).My mortgage started in 2000 and was redeemed 2003.I wrote to First National now GE Money & asked them to justify the £125.00 MEAF that I was charged (£75 Admin Fee & £50 Deeds Supply Fee).

They wrote back to me & advised that all fees applied to my account were done so fairly and lawfully and that I would not receive a refund. They also referred me to their current General Mortgage Conditions that referred to Admin Charges upon redemption.

I then wrote back to them and advised that their current General Mortgage Conditions were irrelevant, as my original mortgage was taken out with HMC. I therefore asked them to provide me with a copy of the original contract that I signed with HMC which confirmed the MEAFs that I would be charged upon redemption.

GE Money/First National then wrote back & advised that they are unable to obtain a copy of the original terms and conditions of my mortgage but again the fees were applied fairly and lawfully and I would not receive a refund.

I have a copy of the First National Guide to Fees leaflet which is dated April 2002 and confirms the amount of the fees that I paid upon redemption of my mortgage, but I am pretty sure that these fees were not in the original terms and conditions of my mortgage, when I initially took the mortgage out in 2000.

I cannot see how GE Money/First National can continue to attempt to justify the fees charged, when they cannot even supply me with a copy of the original terms and conditions of my mortgage.

Does anyone have any advice upon how I should now proceed?

Many Thanks!

vodkafreak

Have received a cheque for £126 from Abbey! I thought i had originally agreed to the £225 fee but it tuns out i should only have been charged £99 as they had increased the fee after i took out my mortgage! Excellent result!:j :T

juliebanana

Woohoo! made a phone call, no joy; "fees aresubject to change blah blah".
Filled in M artin's template letter and a week later received a refund of £120, meaning my MEAF was only £75 - that's £10 cheaper than I originally bargained for!! Martin, if you're reading this, big kiss. You really empower us plebs and I love it.:j

AYSHA_3

I have re mortgared (Completion is today)

redemtion charges £134.00
Early repaymenyt charge £441.16
Deeds access charge £57
Can they charge this

Also
my opening balance On Jan 2007 was £51,732.94
Interest charged £3,865.04
Admin Charge £56.00
I am totaly confused, as i was not tied to any penalty charges
Can you help me out

AYSHA_3

Any one out there had a mortgage with morthage PLC based in Scarborough