Mortgage Exit Fees successes and failures

alec2

Hi all

Just received a payment of £77:50 - Great! only waited a few days after my phone call to them.

Happy Man :j

mumo5

Phone A & L 6 days ago. 5 min call and cheque arrived today for £210. Mega Happy mum!:j

mud7dan

please help. twice i rang c & g ,twice said no to reclaiming any back.
Had main loan and during added house improvement loans paid directly ontop ,these have been paid off.
now just main and small loan combined. can i claim?

MarkyMarkD

mud7dan You haven't paid an MEAF if you haven't redeemed your mortgage, so why do you think you have anything to claim?

Alison_Ottaway

Sent two letters off - one to C&G and the other to Halifax - and received two cheques almost by return without any hassle whatsoever. A fairly small amount by some standards - £35 and £15 respectively - but better off in my bank account than theirs!! Thanks for your help. Now awaiting replies from 2 organisations about mis-selling PPI and the final judgement about bank charges. Onwards and upwards!!

mud7dan

:T

MarkyMarkD wrote: »

mud7dan You haven't paid an MEAF if you haven't redeemed your mortgage, so why do you think you have anything to claim?

:rotfl: i'l try! c&g i was with for years ,last year closed with them to shift to another company.
their rates offered to me were high,the new company gave me a better int and also reduced 19 years to 12years too!! my loans on top in the early years quoted that i had to pay insurance for them.both paid off i add.
and c&g charged a 225 finish fee.
:T

Jo_Alexander

My last mortgage provider was the Principality. I was given the details their low price mortage offer by an agent. My understanding was that the low price deal was only for nine months. I looked for another lender and found one so that when the nine months was up I move my motgage only to find out that I had to pay 2% of the original loan for paying the loan back in full. The cost was a mighty £1500. I was pretty annoyed because although there was a clause in the offer letter this repayment amount had not been brought to my attention by the agent and it doesn't appear in the Pricipality's mortage conditions booklet.

Liz_Curry

This was a fantastic money saving exercise. I simply phoned my old mortgage provider (C&G) on the number provided by your wonderful website, and, heh presto, 5 minutes later I was £204.22 better off. Thanks so much. A wonderful return for five minutes work!

MarkyMarkD

mud7dan OK, you didn't say in your first post that you'd actually redeemed anything.

But, the fact is that you've taken additional loans from C&G and at the time those were taken out, you are deemed to have accepted their later MEAFs. That will be why they are telling you (repeatedly) that you are not entitled to claim anything.

MarkyMarkD

Jo Alexander Your fee isn't an MEAF, but an Early Repayment Charge (ERC). This thread is about MEAFs.

I have never heard of a mortgage with a 9 month incentive term or tie-in.

If you were mis-advised by the "agent" then your claim is against them. But equally well, your solicitor should have explained the terms of the contract you were signing and you should have made yourself understand them before accepting the mortgage offer.