Mortgage Exit Fees successes and failures

Dazgaz

I didn't even bother looking for what mortgage fees I'd been charged. I simply filled in Martin's standard letter with the suggested figures and sent it off to C & G. Within a week I had received a reply and a cheque for £56. Not a huge sum, but well worth about 5 minutes work and a stamp.

mollkins

After reading Martin's article on mortgage exit fees I wrote a letter to Lloyds TSB as we had paid off our mortgage in 2006 and been charged £225. In what seemed like the next post I received a cheque for £150 but there was no letter of explanation with it. I have since read that the fee should have been £75. :beer:

robbie1980

Took our mortgage in 2005. £295 was stated in KFI etc but worded very badly on the morgage offer. I said it misled me to believe that £295 would not be payable if i left after the tie in period.

Other documents said would be payable if redeemed mortgage within mortgage term but the mortgage offer which states is the prevailing document in case of uncertainty was unclear to me.

Sent a letter to A and L explaining this also the level of fee (used blurb from a template) to produce a decent letter.

Got a letter back saying no, it's clear. Sorry.

Rang them up and requested deadlock letter (didnt try to argue my point). Was told they would send one, but just got a letter saying it's all (295) being waived.

So the Financial Omb threat is more expensive to them!

Get in there! Bit more spare cash at xmas now.

bridget-jones_5

In December last year we changed our mortgage from C&G to Northern Rock.
In April I read Martins article about reclaiming MEAF. I decided that 'nothing ventured nothing gained' and wrote to them using the template letter on this site. The first letter from them was the usual 'terms and conditions' blah blah blah. The second letter I wrote to them stated I had been in touch with the FOS and a reference number showing I was serious. As if by magic 1 week later I received a letter stating they still felt the fee was fair but as a 'goodwill gesture' they were refunding the fee + 8% interest from date account was closed. In total £232!!!! was refunded within a week of their letter. The whole process took less than a month.
Thank you Moneysaving expert for your excellent advice and ongoing support:T :T :T :T :T :T :T :T

deaks_2

This is the easiest £125 I've made since I gave up being on the game!!!

I have read the article re exit fees and for some bizarre reason alway did nothing, although I changed mortgate in 2002 and again this year, so why didn't I - dunno!

rang Halifax using the number supplied £125 back, lovely chat with the lady, no hassle, no forms, hopefully just a cheque ...

the reason I didn't do this before - total apathy - my advice - ring - ask - you have NOTHING to lose - they can only say no you don't qualify

If you have changed mortgages in the last 10 years/5 years DO THIS - TRY!

MarkyMarkD

marvelman wrote: »

Hi

I'm new to this forum & just wondered if anyone had any success in terms of caiming back Redeption Penalties as opposed to MEAF's? Is the general response to Redemption Penalties 'tough - you get what you signed for'?

Cheers

Yes. Refer to this thread: http://forums.moneysavingexpert.com/showthread.html?t=507591 regarding why Redemption Penalties are:

(a) fair; and
(b) not subject to this FSA ruling.

smartycat

Saw Martin's advice some time ago and recently found, in a paper clear-out, a reference for the Standard Life mortgage that we dumped in 2002. So thought, give it a go and why not add some interest to the claim too.

Result; within 10 days a polite letter confirming a nil MEAF in the original offer and enclosing a cheque for the £150 fee charged and 8% p. a. (simple, though I'd suggested compound was appropriate) interest.

Only wish there was some info. around for the A&L mortgage we dumped for the Standard Life, 'cos I'm sure they stung us too, but I know all the paperwork there got incinerated in a big paper cull three years back.

kittylover46

just to say thankyou.We have just recieved a cheque for £35 from Platform after sending one letter to request a refund of the excess Mortgage Exit Fee.No hassle or arguments.Wouldnt have known we could claim if it wasnt for you.:j

camontgomery

I used the template letter on your site and in less than a week from sending it Cheltenham & Gloucester refunded me with £217.00 mortgage exit fee.

i_hate_A+L

Wrote to A+L 2 weeks ago recieved cheque today for £220, should have only been charged £150 instead off £295 so looks like i've got a little more than I was due.I would have never have known if it hadn't have been for this site, my god these banks can be crafty!