Mortgage Exit Fees successes and failures

jfergiegirl

Sent 3 letters on 30th Oct 2008, to RBS, Abbey and Nationwide. Have received a claim form from abbey so have filled that in and sent it off. Had a letter from RBS today confirming that we will get a £150 refund, and I am still yet to hear from Nationwide. So far so good.

markabuckley

do discharge fees (I'm with Natwest atm) - get added to your final settlement - therefore are covered by new lender (within your new mortgage) - or its added to the fees charged by the new lender ? or you get a bill from your old lender ?

thanks, Mark.

_Andy_

markabuckley wrote: »

do discharge fees (I'm with Natwest atm) - get added to your final settlement - therefore are covered by new lender (within your new mortgage) - or its added to the fees charged by the new lender ? or you get a bill from your old lender ?

thanks, Mark.

No lender will cover the exit fees from your old one.

MarkyMarkD

_Andy_ wrote: »

No lender will cover the exit fees from your old one.

They get added to your redemption amount, but that means you have to pay them to your solicitor OR add them to your new mortgage. The new lender certainly doesn't pay them on your behalf.

ManicMum

I see some people on here are still banging on about blackmail etc. I successfully reclaimed my mortgage exit fee which was higher than contract stated. I understand what people are saying in terms of if you agreed to £295 and you were charged £295 then you have no comeback. The thing is though that people select a mortgage for a particular reason. Perhaps the rate is good but the exit/admin fees are high. So you go with that. It could be argued that banks are blackmailing you by trying to claw back money from you by alternative means. There is nothing wrong with challenging them to justify the fee. I too asked Halifax for a breakdown of costs, which they provided in a very basic way. I was not convinced.

These are banks we are talking about here, not charities. They take us for a ride constantly. If you can get a bit back from them then why not.

savercat

I had a mortgage with A&L and in 2005 transferred to another of their mortgage products. They charged a product arrangement fee which I understood, but also a 'switching administration fee' of £250. Is this simply an exit fee by another name? If so I will have a go at reclaiming it!

MarkyMarkD

No, it's a fee for switching products. You wanted to switch, you have to pay.

It can only be an exit fee if you redeem your mortgage. You didn't.

martink9

Came into some money in July and contacted LTSB in regards to complete payment of 20,000 left on mortgage and mentioned this site in regards to early repayment fees. All fees were waived and just recieved my deeds. Thanks everyone

needsomecash

Hi

Sorry if i am on the wrong board!

In the last 8 years Ihave been with Abbey (left product early but repaid all the fines associated back), Chelsea Building Society, GMAC and now back to Chelsea.

I am going to try and write to Abbey, I was just wondering if Chelsea or GMAC are also included in this, has anyone tried them??

Thanks

jfergiegirl

After having a £150 rebate from RBS, I was feeling reasonably hopefull at getting a rebate from Abbey. But No! They have replied saying that as the original mortgage applicatin states the exit fee was £225 that was basically it, we can't get any money back. Surely this is classed as unreasonable, isn't £50 the acceptable fee for this process?
Please can anyone help? Is there a way to claim any of this back?