Mortgage Exit Fees successes and failures

ferns002

Transferred my mortgage from B & B to the A & L 2ish years ago and was charged a £250 exit admin fee. Sent of the template letter 2 weeks ago and recieved a cheque for £185 today.
Thank you very much MSE.

rsharp

MarkyMarkD wrote:

The FSA ruling does not mention interest, so there's no requirement on lenders to pay it. Some seem to be doing so and others do not, but I don't think there's any mileage in chasing for the extra £5 or so when it's not clear cut.

Thanks for the info - I agree that it's not worth chasing if not clear cut but didn't want to miss out if they should have offered it as a matter of course.

Mark_Burton

Hiya all, we have moved our mortage twice. From Barclays to Northern Rock and from Northern Rock to Nationwide. I downloaed the letter Martin put up and sent them both off at the same time, 3 days later Northern Rock replied with an offer of £90 - they say that this is the difference between the 250 they charged us and the fee that applied when our mortgage contract was initiated. We are concerned that we have to return a declaration of acceptance of this final settlement and terms without further liability on the part of Northern Rock. What sholud we do? No reply from Barclays... :mad:

Best regards
M Burton

cooksville

Got a mortgage with Alliance & Leicester in Nov 2003 changed it in Dec 2006 and had to pay £295 Early Closure Admin Charge. Sent in the form from this site 2 weeks ago and recieved a cheque for £100 yesterday. As the charge of £195 was introduced in Jan 2004 I don't know whether to ask for more or quit while I'm ahead?

MarkyMarkD

Mark_Burton wrote:

Hiya all, we have moved our mortage twice. From Barclays to Northern Rock and from Northern Rock to Nationwide. I downloaed the letter Martin put up and sent them both off at the same time, 3 days later Northern Rock replied with an offer of £90 - they say that this is the difference between the 250 they charged us and the fee that applied when our mortgage contract was initiated. We are concerned that we have to return a declaration of acceptance of this final settlement and terms without further liability on the part of Northern Rock. What sholud we do? No reply from Barclays... :mad:

Best regards
M Burton

If the amount NR are offering you is correct, I can see no reason NOT to sign the declaration.

marcel808

I paid off my Bradford and Bingley mortgage last October and was charged £175 admin fee and £60 Deeds Release fee.
One phone call and I received a letter a week later saying they would be sending me a cheque for £235!
RESULT!!

RJDH

I have thoroughly enjoyed reading all of these success stories.

Can anyone help me ??

Does anyone know what the exit penalty fees were for Woolwich in January 2000? The threads seem to suggest £95 but cannot be sure. I would like to speak to Woolwich soonest with at least the fees charged at that point as they charged me £275 last year.

Boy am I looking forward to calling their little help line !

Also, the Alliance and Leisdter exit fees around CY 2000 and what they were around 3 years previous in 1996/7

Thanks to all and look forward to hearing from someone

springtide

Just had a cheque for £125 back from Halifax after a short phone call - fantastic!!!!

abbiemich

Wrote to Abbey less than two weeks ago and received a computer generated reply with a cheque for £140.00 attached.

Have been asked to sign a full and final settlement, do I?

Excellent letter Martin - didn't even need to chase it!!

RJDH

RJDH wrote:

I have thoroughly enjoyed reading all of these success stories.

Can anyone help me ??

Does anyone know what the exit penalty fees were for Woolwich in January 2000? The threads seem to suggest £95 but cannot be sure. I would like to speak to Woolwich soonest with at least the fees charged at that point as they charged me £275 last year.

Boy am I looking forward to calling their little help line !

Also, the Alliance and Leisdter exit fees around CY 2000 and what they were around 3 years previous in 1996/7

Thanks to all and look forward to hearing from someone

Further update on the Woolwich. I called their dedicated helpline on 08000 234180. Spoke to very nice lady who asked me some details of the mortgage account, address etc...

She asked the reason for my call and i confirmed i wanted to question the Mortgage Exit Fee of £275 last year.

Within seconds she advised that i should have paid only £95 and that she was going to refund me £275 - £95 = £180 plus 4% intewrest on the money which came to £8.14.

I am advised that I shall receive a payment into my bank account of £188.14 within 5 working days......It's Miller Time :beer:

Martin and the Team and everyone who have posted their successes here deserve great credit :T

Without the MSE Site and the posts of successes here I might never have got a refund of my money.:T

Can't wait to tell others as this seems to be the right and proper way for the banks to act against the background of excessive fees, instant interest hikes, but dragging of their heels when it comes to interest rate reductions and bigger banks making wads of dosh into Billions of ££'s profit from our pockets.

MARTIN - Keep up the great work on this site and thanks for being the catalyst for the easiest and quickest ( 5 Mins) refund I have ever received. :money:

Now I'm off to tackle the A&L !!!