Mortgage Exit Fees successes and failures

dunstonh

On the third one I paid what the contract stated - however it seems high given that their costs were likely less than £50. How much do I try and claim?

It could have been £1000 and you would still have to pay it. It doesnt matter if it is low or high. It is what was stated on the contract that matters. What makes you think that the charge has to match the costs?

What are the chances of being able to claim the arrangement/booking fees? I paid a £499 booking fee on my most recent mortgage - surely this cannot be pure cost recovery on behalf of the lender?

None whatsoever. We dont live in a communist state and there is no legal requirement for companies to charge an amount which just covers their costs. If you read some of the posts made in just the last few days let alone the last few months you would find out what these fees are for and realise you have got it completely wrong.

What can I do with the first 2 where I cannot prove what I paid?

Martin has a list somewhere on the site of what the charges were at certain times so you can check that. Most of the charges started increasing from around 2003.

dinallo

Success story!

Two phone calls all of 5 minutes a time to C&G and Co-op Bank, both agreed to repay the difference between the charge made on remortgaging and that which was shown in the initial mortgage agreement pluc interest.

C&G was particularly helpful with abosolutely no problem with making the repayment of £50 plus interest equating to £64.

Co-Op was a little more difficult as they didn't initially offer to pay the interest, but after a second call, they offered to repay £110 plus interest at 8% equating to £134.

Overall, nearly £200 just before Christmas - much needed cash!
Just make sure to mention FSA and they soon decide to repay all they owe.

pjg_2

2 weeks after phoning Abbey, a check arrived for £126 which was the difference between the quoted £99 fee, and the £225 that they charged me!!!!

Cheers Guys :T

joooools123

I used Martin's template letter and sent it to C & G according to Martin's instructions and within the week had a cheque for £118, which was £90 overcharge plus interest!
I would encourage anyone who thinks they have been overcharged to send one of Martins@ letters, I had no details apart from the mortgage account number and still got a great result.
Big thanks to Martin!:money:

:rotfl: :rotfl: :rotfl: :rotfl: :rotfl:

joooools123

Hi there athewitt,
I would say that you have a good chance with the first two, I have had success with Northern Rock and also with a LLoyds mortgage which I redeemed in 2002, the issue is whether you paid more on redemption of the mortgage than was stated in your original agreement. If you don't know the figures don't worry, as long as you have the mortgage account number you can use Martin's letter. Good luck!

namoss

After 20 yrs of a 25 yr mortgage Nat West wanted an exit "sealing" fee of £70 but did not say what this for. I queried it and was told it was mentioned in my original contract. It was not, so I only paid the amount outstanding excluding the sealing fee. The mortgage was redeemed ok without this exit payment. But you have to call their bluff.

clivewhite

Hi all. I used Martins template letter,and had instant succses.I got a cheque from Standard Life for the sum of £220.00. All this happened in the space of two weeks. No questions asked just paid up no hassle. :rotfl: :rotfl: :rotfl:

Janeynewbie

After reading the link about MEAFS i decided to write to Abbey using the letter template from this site, they sent me a simple form to complete almost immediately which I sent straight back - Less than a week later I have received a cheque for £126!!!!! Not bad for the price of 2 stamps........:j

Georgiesmum_2

I have re-mortaged twice in the last 8 years and so a 5 minute phone call to the Woolwich yielded £30 plus interest of about £9 and a 5 minute letter to Standard Life yielded a cheque for £150! A total of £189 for 10 minutes work. £18.90 per minute - not bad! Now I can buy that Boden coat I had been salivating over for months - bought on 12% offer with free postage and returns of course! Thanks Martin!

Big_Pete

:A Made a call after seeing this section and spoke to member of staff at abbey who was very helpful and after filling out some details on their form I have received a cheque for £126:j :j :j :j :j :j :j thank you, this will make Christmas better, thank you again:beer: