Mortgage Exit Fees successes and failures

_Andy_

jfergiegirl wrote: »

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?

£225 is what you agreed to so there is nothing to claim back.
If, for example, your original contract stated £100, then yes you could claim back the difference.
However in this case Abbey are in the right.

MarkyMarkD

Indeed. There is no "acceptable fee" - such comments are rubbish.

You are committed to pay what you agreed to. That is what the FSA ruling on the subject said.

jfergiegirl

_Andy_ wrote: »

£225 is what you agreed to so there is nothing to claim back.
If, for example, your original contract stated £100, then yes you could claim back the difference.
However in this case Abbey are in the right.

Thanks Andy, that's great I didn't want to send any more letters if I couldn't claim it back.

Foxylady1230

Amazed, I sent a letter to Nationwide regarding two redemption fees I had paid with the Portman - I had limited information and did not know how much I had paid, but sent the addresses and one account number I had. Today received the difference in fees, 45.00 from one and 85.00 from the other plus 20.00 as a gesture of good will.

Not bad for a quick letter, envelope and stamp - going toward xmas definately. Thanks Martin we love you!!:money:

pedrofour

help am just new here srtruggling with debt after seperation trying to find out what the diference between redemption and redemption fee and are or these returnable if so how do i go about it also charges on the loan for missed instalment feeand unpaid direct debit fees and settlement admin fee ..thank u..

milesfb

I recently changed mortgage provider from C&G to Principality. C&G charged the usual £225 maximum fee that they claim is competitive and reasonable. I wrote them three letters of complaint, the first of which contained information suggested in the money saving expert template letter. The remaining two I just made a nuisance of myself declaring I was not made aware of the fee at the time I signed regardless of it being in the small print. I also requested in my third a letter a fully itemised costed break down of what this fee consisted of with each component of the break down having its own respective price to show how they arrive at a fee of £225. They gave into me and refunded the lot! The main point is you must make a nuisance of yourself. Eventually they will hopefully do something for you just to get you off their backs.

Thank you to the money saving expert.


Miles

dunstonh

The main point is you must make a nuisance of yourself.

And it appears you are very proud of that. No wonder this country is going to the dogs when people like you do this sort of thing.

You agreed a mortgage where the costs were known in advance. You paid the costs and then bugged them so much they gave in to get rid of you.

I really hope that you are in business and you suffer something similar so you realise what it is like to be on the other end. Or maybe you get made redundant because your employer suffered it and had to make staff cuts to cover the costs. This is not a pot of free money to claim from. There are consequences to these actions.

Steve_xx

dunstonh wrote: »

This is not a pot of free money to claim from. There are consequences to these actions.

Yes that's correct, ie this is "not a pot of free money". Oh but wait a minute, shouldn't the banks realise that too? Haven't the banks been helping themselves to their depositors money, investing it recklessly, the result of which is that they are now helping themselves to taxpayers money?

dunstonh

Yes that's correct, ie this is "not a pot of free money". Oh but wait a minute, shouldn't the banks realise that too? Haven't the banks been helping themselves to their depositors money, investing it recklessly, the result of which is that they are now helping themselves to taxpayers money?

That has nothing to do with redemption charges. Two wrongs dont make a right.

milesfb

Screw you Dunstonh. I think you are forgetting the very point of this site and forum - to save money and reclaim back unfair fees, which is what the money saving expert is there to help people with. What are you doing on this forum if you are going to criticise people who were successful. Dunstonh you can !!!! off!