Mortgage Exit Fees successes and failures

rarah

Hi, just wanted to say thanks Martin, we just phoned Halifax, and C&G, both of whom said we were due money back. Got 125.00 + interest from C&G, and 25.00 from Halifax. It was really easy. We didn't have any account numbers, just a vague idea of when each one finished. Fab. Try it. Everyone!:j

wrighty5

One Letter one 24p stamp, I have just received my cheque from A & L for £245 thanks Martin:T

mramoeba

2 minutes on the phone to barclays/woolwich, no hassle at all, they have just credited my account £167. thankyou for the advice MSE. now santa will bring my poor daughter a nice satsuma. ho ho ho.

leversidgem

Great success. I eventually decided to tidy my financial paperwork and came accross my old mortgage papers. After reading money saving expert each week I should have got round to this ages ago but didn't. I saw that on the closing statement we had been charged £275 when we left the Woolwich. I phoned their dedicated refund line and a lovely man checked my accoount immediately and told me i was due to a £125 refund plus £10.02 interest. Took 15 minutes tops to get back £135.02. I'm now going to look for my previous mortgage paperwork and see whether there is any more i can claim.

Thanks Martin

Sazzie

Can someone help me. I am new to this site and in the process of chaning my mortgage. Currently with Bristol & West. Original mortgage was fixed for 3 years. I have stayed with them for 10, 7 of which were not tied into any deal. I am now moving and they said because I am not fulfilling the 25 years they will still charge me £195 for leaving. Do I query this now or after and what could I expect to have back?
Any help would be very much appreciated

Foxy_Lady1

I have just called the NatWest and have been told I am owed £140 from them due to an overpayment in my exit fee - fantastic news! I would never have known about this, if it hadn't been for this site. It took me longer to register so that I could post a comment, than to make a phone call and reclaim the money! :j

MarkyMarkD

Sazzie wrote: »

Can someone help me. I am new to this site and in the process of chaning my mortgage. Currently with Bristol & West. Original mortgage was fixed for 3 years. I have stayed with them for 10, 7 of which were not tied into any deal. I am now moving and they said because I am not fulfilling the 25 years they will still charge me £195 for leaving. Do I query this now or after and what could I expect to have back?
Any help would be very much appreciated

There's no point at all querying it prior to redemption as it will just unnecessarily hold things up. I am surprised if B&W's MEAF was as high as £195 10 years ago, if you are saying that you've never switched products and never taken a further advance.

Sazzie

MarkyMarkD wrote: »

There's no point at all querying it prior to redemption as it will just unnecessarily hold things up. I am surprised if B&W's MEAF was as high as £195 10 years ago, if you are saying that you've never switched products and never taken a further advance.

I have not been in the position to as my credit rating took quite a bit of a knock (thanks to my ex). It has taken me years to get to the position where I am now not refused or only offered high rates. So it has been dormant ever since the original term was up. I went back to them to see if they could offer me better than what I am currently on and that's when they told me about it. If I signed for a further 5 years then moved they said £195 would still be payable after the 5 years unless I stayed for the full 25 years.

victhebrick

:T Hi Martin, A big thanks for your useful site and articles. I phoned the Halifax and found that they owed me £150.00. £50 for one mortgage and £100 for another. I never had any account details and just approximate dates, answered a few simple security questions dob etc. The cheque is in the post.. Also told my daughter about this and she is £47.00 better off from lloyds (£45.00 + interest) thanks again and keep up the good work:beer:

MarkyMarkD

Sazzie

The £195 they are asking you for is definitely incorrect if your situation is as you state. Here: http://www.which.co.uk/press/press_topics/campaign_news/personal_finance/motrgage_exit_fees_571_110300.jsp it says that B&W were charging £50 10 years ago, so that's what they should be asking you for.

They are right that if you NOW switch product, you'll be liable for a £195 MEAF. But that doesn't apply until you switch product.