Mortgage Exit Fees successes and failures

dunstonh

vitodelfine wrote: »

Hi, Can anybody help??
I rang Halifax to enquiry about the £150 exit administration fee, and they told me that they will not refund me because was written on my mortgage contract that I took with them 2 years ago. A few days later, they sent me a letter saying" The fee covers the administrative cost of closing your mortgage accound and removing our charge from the Land Registry" and they detailed the process in the letter
Has anybody here been in the same situation and got their money back? Please please let me know.
Cheers
Vito

You agreed to that fee when you took the mortgage out and that is the fee you paid. Halifax are following the FSA requirement.

Please read existing posts on this subject which are repeated many times throughout this thread.

cdsheldon

I applied for a full refund of my £99 mortgage exit fee in February, and eventually received a cheque for £49. Abbey claimed this was the difference between the fee paid and the fee stated in my mortgage contract.

However I took out my mortgage in 1984, and there was no mention of any redemption charges in my contract or any of the other documentation. Furthermore I had redeemed another mortgage with Abbey (National) at the same time, and had not been charged a fee. After numerous letters and emails, I received a further cheque from Abbey for £50 this week.

MoneySavingExpert forum readers may be interested to know that the earliest record I have of any exit fees was in a tariff of charges circulated in February 1993. So if you took out a mortgage with Abbey (National) before that date, dig out all your paperwork and if there is no mention of any fees put another claim in - but be prepared for a long battle.

varneym

I have changed mortgages twice in the last three years and sucessfully reclaimed £100 from Birmingham Midshire, despite them even agreeing that we were overpaid and another £50 from Accord.

Nice one Martin free money for a couple of phone calls.

:money:

Paul_Butler

Saw your piece on Mortgage Exit Fees on GMT and went into action!

We received a £160 refund from Abbey with one phone call and a badly photocopied form! A very resigned sounding woman on the phone simply took my details and the form arrived a couple of days later.

Thanks!:beer:

ianspibs

Hi,
I've just phoned the Alliance and Leicester regarding my £295 exit fee.
We took out the mortgage in 2005 and changed in 2007, following a 2 year offer period.
I was told that as the mortgage was taken out in 2005 and the £295 was clearly stated in my original offer, I was charged the correct amount and am therefore not eligible to recalaim any money.
Ian

dunstonh

ianspibs wrote: »

Hi,
I've just phoned the Alliance and Leicester regarding my £295 exit fee.
We took out the mortgage in 2005 and changed in 2007, following a 2 year offer period.
I was told that as the mortgage was taken out in 2005 and the £295 was clearly stated in my original offer, I was charged the correct amount and am therefore not eligible to recalaim any money.
Ian

That is correct. You agreed in your contract that they fee was £295 when you took the mortgage out and that is what you paid on exit. Therefore nothing is due to you.

lesleyP_4

:T
A huge thank you Martin for raising the issue on the Mortgage exit fees.
I contacted two lenders I have been with in the last 5 years.
The Halifax have paid back £60.00 and Legal & General have paid us back £200.
Please continue your good work encouraging others to claim back these fees. [EMAIL="It@s"]Its[/EMAIL] so easy, I used the template provided to send letters to the two above companies and heard back in days!!!
Many thanks again.

juegy

hi just wanted to say i found your web site by accident two weeks ago.in that time i sent off your template letter regarding mortgage exit fees, this week we received two letters from allaince & leicester, 1st one saying they was looking into the matter 2nd one on the following day had a cheque with it for £298! love it i didnt even think we would get anything! so thanks martin, im now going to start on the endownment mortgage letters! im not going to stop till iv tried everything on your site!!:T:j

MarkyMarkD

dunstonh wrote: »

That is correct. You agreed in your contract that they fee was £295 when you took the mortgage out and that is what you paid on exit. Therefore nothing is due to you.

If you'd read Martin's original article, you'd have saved yourself the time, effort and cost of making a pointless phone call too.

ianspibs

MarkyMarkD wrote: »

If you'd read Martin's original article, you'd have saved yourself the time, effort and cost of making a pointless phone call too.

I did, and if it was written a bit clearer that little seed of doubt wouldn't have entered my mind. Hence, the phone call wasn't pointless as it cleared things up for me!
I wrote my post in reponse to the "write your successes and failures" original post just in case anyone else was in doubt. Thought I was being helpful.:p