Mortgage Exit Fees successes and failures

LIL_ANGEL_2

I Wrote To Alliance & Leicester The Exit Fee Was Clearly Stated As £295 I Wrote And Advised This Was Unfair
They Reduced It To £150 For Me!!!!

Thanks Martin Lewis - The Template Worked!!!

zebedy

Martin you are a star!!
I wrote to C&G using the template letter (with interest) asking how much i had paid and how much the contract had stated when I took out the mortgage and that i thought I may have overpaid and be due a refund with interest.

C7G responded in 1 week with a letter saying I had paid £225, and the contract had said £90 so I would receive a cheque for the difference (£135) plus interest (£18.75) based on BOEBR +1% from the day my account closed.

Lo and behold a cheque for £153.75 appeared 2 days later! (all for the price of a second class stamp). It's going to be used as an overpayment on my mortgage.

Thanks Martin.

TraceyB_2

Contacted the Abbey two weeks ago, couldnt find any paperwork with my mortgage account number on it so just put 'no longer available' on the form.

Got a letter back last Tuesday to say they couldnt trace my account without the account number - can you believe it - do they really think we are that dumb!!

Anyway, to settle it quickly I turned the house upside down and finally found the mortgage redemption certificate (complete with the repayment figure of £225!) sent it to them with a sarcastic note saying that hopefully the attached would help in their search.

Cheque for £175 received yesterday!

Only one problem - they have made it out to Mr B when I am Mrs B!

Serves me right for being sarcastic I guess:rotfl:

Thanks for the tip off :T :T

Spendaholic_Chick

Two minute phone call to Birmingham Midshires led to them offering me a refund of £70 as full and final settlement. I'm delighted of course, but shouldn't they offer interest too, or should I grab the money and run? lol

artybird

Made the phone call to Abbey approx. 8th Feb - they sent me a very short form to fill in, sent it back on 13th Feb - cheque for £126.00 received this morning (23rd Feb).

Result!!

I'd have had absolutely no idea about this if it hadn't been for Martin's site - it's frightening to think how many people are entitled to this money and haven't a clue about it.

But one happy camper here - not to mention all the extra money I've saved - so far I'm a little over £600 better off purely down to moneysavingexpert, and I only found out about the site about three weeks ago!!

Thanks Martin. :beer:

G.

jimbob6775

I used Martin's money tips to guide me - phoned Woolwich - it was so easy - she just asked me a few questions to prove I was who I said I was, gave her my address, the mortgage account number - she said I was due x amount (with interest added) I gave her my bank account details and the money was transferred a couple of days later - RESULT - thanks Martin.:j :T

gocat

Im considering paying off my mortgage with Scarborough BS. They want
£50 Redemption fee,
£50 Discharge Fee and
£40.00 Deeds access charge. Does that sound right?

ThriftyBeanie

Gocat, sounds reasonable tbh. If you have the original docs from when you took out the mortgage, check to see what it says, if it's less then you might be able to peg them down to that without too much hassle, quoting FSA directive of January 2007 (IIRC from another thread)

Edit: check our Martin's advice on this site, loads of MSEers have benefitted, judging by this thread

ezglide1450

After reading Martins website I contacted all my previous mortgage lenders and asked them to look into what I had paid HALIFAX were first and easy to deal with They admitted I had paid £75 in 2002 on redeeming the mortgage when I should have paid £40 the 1998 fee when I took the mortgage out A £35 cheque in the post for 2 minutes on the phone. STROUD and SWINDON were slightly harder to crack Initially a cheque was sent for £10 with a covering letter agreeing to revert back to the 2003 charge of £115 when I had paid £125 in 2006 on redeeming the mortgage taken out in 2002. I decided to take it a step further and challenged them again as to the cost being excessive as experts stated the true cost of redeeming a mortgage was between £35-£50 to the lender.They accepted my challenge and agreed to refund a further £65 thus only charging the £50 I stated was fair against the original £125.I have also been in touch with LLoyds/tsb (now Cheltenham and Gloucester) and Natwest homeloans and am awaiting the outcome of these although I have had an initial knockback from Natwest who charged me £85 I havnt given up on them yet !
Update 22/2/08 - just heard from Lloyds bank ( now Cheltenham & Gloucester) mortgage opened in 1993 when no closing fee had been introduced redeemed in 1998 and charged £50 result of complaint is a refund of £50 plus £37.52 interest = £87.52 total

mjturner23

Many thanks Martin, after watching the show I contacted the Abbey who have just mailed me a cheque for £30.:beer: