Mortgage Exit Fees successes and failures

HOMEMIX

Contacted Halifax By Telephone. Couldn't Believe It Was So Easy, I Was Told They Owed Me 100.00 And Would Put A Cheque In The Post Within 28 Days, I Was Waiting For The "but". Recieved The Cheque Within 2 Weeks. Now Onto Credit Cards/loans Ppi With Fingers Crossed.:t

mud7dan

Did i go wrong?
had morgage with c & g about 8 or so years ago,also home loans for alterations,(small amounts 2/3 paid off)
shifted companies last year, 2 loans main and extra,to one new loan reduced time 17/19? down to 11years.fixed my rate.
so i try to call c&g ,tried to claim charge this time answer no.

p_michael

Hello, Wondered if anyone can help? I tried to reclaim my mortgage exit fee with Abbey. the mortgage started in oct 2006. they wrote back and said that we are ineligible for a refund because the terms of our mortgage clearly specified a mortgage repayment fee of £225. Is there anything we can do? thanks

lotto-dreamer

p_michael wrote: »

Hello, Wondered if anyone can help? I tried to reclaim my mortgage exit fee with Abbey. the mortgage started in oct 2006. they wrote back and said that we are ineligible for a refund because the terms of our mortgage clearly specified a mortgage repayment fee of £225. Is there anything we can do? thanks

It's a bit more tricky if when you accepted the offer and signed it this fee was clearly stated on the offer. However, you could try arguing that you feel it is excessive.

What a mortgage repayment fee covers (as far as I am aware) is a pre-printed form (DS1 or usually now an END1 - you can look these up on Land Registry website) which is very straightforward for the lender to complete as the details are usually filled in and sent to the lender by the solicitor. All the lender has to do is check and sign it and send it back to solicitor or notify the Land Registry electronically in case of END. This truly is money for jam! I very much doubt in real terms it actually costs anything near £225 to deal with.

ezglide1450

I have successfully reclaimed exit fees from 4 lenders in the last fortnight each case was slightly different but the nat west bank were a tough nut to crack They initially refused a refund on the £85 paid but when I pointed out the true cost of redeeming a mortgage was between £35-£50 and asked them to justify paying more in detail I recieved a cheque for £50 by return of post so thats the tack I would take with the abbey and good luck to you (I have recieved £247 from 4 lenders since taking Martins advice)

elainepm

thanks to this site I have just reclaimed £125 from Bradford and Bingley and I had forgotten all about my earlier mortgage with Halifx, off to give it a shot with them too.

Mutton_Geoff

I complained to Cheltenham & Gloucester. Only with the first mortgage statement did they mention a "closing admin charge" of £225. When I redeemed my mortgage, they charged me £100 and after my initial complaint they said this was already a reduced amount following the FSA decision. I complained again that even the £100 was unfair as it was never mentioned in the original loan agreement nor in the terms & conditions I was given. I asked them to confirm they had completed my complaints procedure as I was going to refer this to the Ombudsman, and I got a reply saying they'd refund my £100. So no exit fees at all from C&G. Well done to them.

Anita_Hens

After reading that you can claim back exit fees, I have written to my last 3 mortgage providers, one of them being First Active, I sent the letter on 20th Feb and received a cheque back on the 27th for £195.00, the were very efficient and on the ball, - thank you Martin for your advice. I have yet to hear back from the Portman and Abbey. I will keep you posted with what happens with regards to them.
It just shows that unless it is brought to light what we should and shouldn't be paying then we the general public end up out of pocket ! as always !

dewilkinson210274

Hi everybody

Within one week I have received a letter stating I was over-charged and am entitled to a cheque of £55. Great news:j

Following Martin's advice. I sent a letter to Northern Rock, Newcastle, on 21Feb08. Wording as advised in article.

The declaration says... 'without Northern Rock having any further liability'

Should I sign declaration for £55? Or advise if you think I should look into further options please...

MarkyMarkD

Accept the £55 and sign the letter, de.