Mortgage Exit Fees successes and failures

_Andy_

k-rolls wrote: »

Our mortgage with C+G ran from 2004 - 2006. When I phoned, they told us that we paid £225 exit fee but that this was correct as of that time, so we are not candidates for a refund.
Is this correct information or should I have persisted?

Thank you.
Katrina

If £225 is what you agreed to when you took the mortgage then there is nothing to reclaim. It would only be the case if, for example, you'd originally agreed to £100 when you took the mortgage out - i.e. the exit fee went up.

Noz

k-rolls wrote: »

Our mortgage with C+G ran from 2004 - 2006. When I phoned, they told us that we paid £225 exit fee but that this was correct as of that time, so we are not candidates for a refund.
Is this correct information or should I have persisted?

Thank you.
Katrina

Hmm.. this is money suggests more investigation: http://www.thisismoney.co.uk/mortgages/article.html?in_article_id=417037&in_page_id=8#c

You need to have a look at your original mortgage documentation.

MarkyMarkD

Steve_xx wrote: »

I think I'll find, like most others, that the banks have been squandering their depositors' cash by lending their depositors' cash without ensuring that the borrowers have the means to pay it back.

Similarly they have been squandering their owners, ie shareholders' cash.

I think you're missing my point, Steve.

Whilst the money that banks lend out is, partially, from their depositors, the losses fall upon the shareholders - until their funds are exhausted - before the depositors lose a bean.

It's not really any of the depositors' concern what their money is used for, as long as they get it back. And they have always got it back, to date. And are likely to continue to do so.

MarkyMarkD

Noz wrote: »

Hmm.. this is money suggests more investigation: http://www.thisismoney.co.uk/mortgages/article.html?in_article_id=417037&in_page_id=8#c

You need to have a look at your original mortgage documentation.

Indeed, as Noz says, this sounds strange. I wonder whether the thisismoney information is wrong, though?

Noz

MarkyMarkD wrote: »

Indeed, as Noz says, this sounds strange. I wonder whether the thisismoney information is wrong, though?

Perfectly valid point MarkyMarkD.

troy_t

Contacted C & G after reading this article, they sorted the over payment within minutes and sent cheque for £50 over charge and £16 interest.
It couldn't have been easier.

paul_griff

I rang skipton building society last thursday regarding a mortgage i paid off two years ago that i had for about eight years but no longer had any details of apart from the address. I was told i would recieve confirmation of my request within a week, today i got a cheque for £130 (fee paid £175, fee in contract £45) so just a note to say don't be put off reclaiming if you dont have any details of mortgage account. thank you martin!!!

amanda_stent

Thankyou Martin I have just made a call to the Halifax who we left sept 2006 and claimed back without any problem 100.00 pounds as i was quoted 75.00 at start of mortgage and paid 175.00 when we changed borrowers at the end of the mortgage so they are sending a cheque for the difference.

jan2563

Having read the moneysaver article about a fortnight ago i decided to try and re claim fees from the bradford and Bingley. I took out a mortgage in 1999 and then paid it off in 2005 when i sold my house. i no longer had any mortgage details.... no account number or details of the MEAFs paid. However, i used the info on this site about the fees charged by the different banks over the years and the template letter. i simply gave them my address on which the mortgage was based at the time and requested the over charge to be refunded. Three days after my letter was sent, i received a letter from them stating they had charged me £175 MEAF plus £60 fee to release deeds when I had apparantly only agreed to £75 fee. They have sent me a cheque for £160!!! :TThanks moneysaver!!

Coupon-mad

I finally got around to calling A&L last week as I was pretty sure we would be owed a fair sum.

We took our mortgage out in 1994 and redeemed it in 2005 when we remortgaged, and at that time we paid a pretty high MEF of £295. I managed to find the old account number and the girl on the phone looked up the archive info and passed it on to their Complaints section. I also made it clear that I was claiming interest at 8% pa for the 3 years between redemption and now.

Lo and behold, yesterday I got a letter explaining that our mortgage paperwork in 1994 stated the fee at just £40 so we were entitled to a refund. Enclosed was a cheque for over £315 which was the amount owed (£255) plus interest!!

Thankyou Martin, must tell my friends to do the same! :T :T :T :beer: