Mortgage Exit Fees successes and failures

JonF_2

Hi,
Got a letter back from Natwest this morning saying they would drop their fee's to the original £50 that they stated and had enclosed a cheque for £175.

Thanks Martin
J

weetee10

i have just had a letter from solicitor dealing with my mortgage transfer. I am not sure if it is the same thing, but they have given me a cheque for £90.86 with a letter informing me that (this is what was said) "i retained £200 to pay 9 (companys name)solicitors fees for discharching your standard security. they did not charge the full £200, so enclose cheque" Is this the same amount, am i entitled to the full amount. I recieved this letter and cheque without ever contacting them.

The letter is headed Transfer of title and remortgage.

Is this the same thing ?

Topaz_3

Thank you Martin, I claimed back from Abbey as the contract fee was £95 (I think. I had to phone and ask them!) and they charged me £225 at redemption. I have just received a cheque for £140!! Very happy bunny

kacharia

C&G, on first request, has kindly agreed to refund the difference in mortgage exit fee charged and agreed at the outset plus interest on this amount from the day the mortgage was reapid. This positive response was very rpompt.
Good luck to all.:T

zico_2

Has anyone had any dealings with RBS? I am currently redeeming 2 BTL mortgages where fee has gone up from £75 to £225. When I spoke to customer services yesterday, she said the Bank was making a decision on 28th Feb so best to wait for the outcome of this decision!

Lady_E

Topaz wrote:

Thank you Martin, I claimed back from Abbey as the contract fee was £95 (I think. I had to phone and ask them!) and they charged me £225 at redemption. I have just received a cheque for £140!! Very happy bunny

Can I ask when you submitted your claim and if you had any questionairres to complete?

I have submitted my letter, mortgage taken out in 1999, changed lenders in 2005 , just waiting for a reply .

valweds

Hi.
I was obliged to organise repayment of my late mother's mortgage with the Cheltenham and Gloucester late last year. Her estate was charged £225 admin fee to do this. I checked her paperwork and discovered the original admin fee to close account was £50. I rang and queried sum. I was told that everyone had to pay the fee and that my mother would have received revised terms and conditions whilst she had the mortgage.
At the time I was pretty cheesed off as the estate had no choice but to repay mortgage. Upon reading various articles on this wonderful website, I realised that I could, at least try to, claim difference. I wrote on 2nd Feb and received a standard letter stating they would send me the difference of £175 plus about £3 interest. It was obviously a standard letter as I had used the template letter from this site, altering wording to suit it as being written on behalf of the deceased's estate. The reply was written as though I, personally, had applied for the difference!
So ex customers of C&G should be able to claim this fee with no problem (I hope). Good luck everyone.

Willowtree222

Hi,

My father was charged £225 from Lloyds TSB to end his mortgage about 5 years early.
We used a template letter from this website and the reply stated that they needed to charge this money in order to stay in business!!

I wrote a second letter for my father asking them to list the costs that would justify £225.00
One week later they got the moeny back plus interest!!!!

Good luck to everyone out there.

indecisive

We had a current account mortgage with First Active who are now known as Mortage Trust. I found my last statement from them after reading Martin's article and discovered that we had been charged £225 as a "redemption fee" when we re-mortgaged in 2004.

I used the standard template letter and emailed Mortgage Trust last week. Today we received a letter saying that our mortgage was not regulated by the FSA but as a gesture of goodwill they were enclosing a cheque for £115 "without prejudice"! I find it very strange that they claim our mortgage was not regulated but I am very pleased with the result as I wasn't really sure how much was originally quoted in 2000 when we moved to First Active. The offer letter referred to another document and that document referred back to the offer letter.

Many thanks Martin.

arebeia

After sending a version of the Martin's model letter I got a quick reply from Natwest. I had paid an exit fee of £225 and they agreed to refund £140 on the grounds that the fee was £85 when the mortgage was completed. Since that was in 1988 it seems unlikely, and my original paperwork doesn't mention any fee at all. However i'm not sure it is worth pursuing further. I'm fairly happy with the result.