Mortgage Exit Fees successes and failures

SusanD_2

The early exit admin fee with Dunfermline BS was £75 when I took out my mortgage in 2001 and I was charged £150 when it was redeemed in Jan 2006. I sent in the completed template and was disappointed to receive a letter saying that they don't consider that a refund is due and that they are "confident the current amount properly meets the cost to the Society".

Having read all the success stories in the forum here, I wanted to pursue this further. I called their Customer Support only to be told that it was a decision the Society's Board of Directors had taken and that they would not be paying out any of these claims. The only option I have been given is to contact the Financial Ombudsman.

Has anyone got any advice? Or had similar experience?

On a brighter note, a previous mortgage product from the Halifax was dealt with promptly and fairly (as illustrated in numerous posts here).

Mark_C

Just got a letter from Bristol and West with a refund for £45. Used the moneysavingexpert.com letter to point out that they charged me £195 when my contract said £150. They wrote 2 pages of excuses and whining about how much it costs them and then said they would pay me back the £45 "as a good will gesture". Nice one MSE :j

paradoxia

Looks like Abbey are finally getting their act together - lets hope something nice drops through my letter box sooner rather than later?

EasternMoose

Just received a cheque for £100 from Coventry Building Society. Just wrote them a simple letter using the template and within 2 weeks, voila!

pe0971

I recently sold and cleared my mortgage with the Woolwich approximatley 10 months ago, after hearing Martin's program on Radio 2. I claimed.....

The original fee from the Woolwich was £95 and I was charged £280.00

Today I have received confirmation that I am due a refund of £185.00

Go for it you have nothing to loose, it your money!!

Iam now in the process of doing the same with my current account charges!!!

Will keep you updated on the outcome.

Torry_Quine

Have just received a cheque for £175 from Abbey which is the difference between the charge they made of £225 in 2005 and the £50 quoted when I took out the mortgage in 1986. As this amounts to approximately two months mortgage payment I am very satisfied. I didn't even use the Template letter but merely wrote asking fro a refund.

As I never have bank charges I have nothing to claim back from my banks.

andrewking

Hi

Has anyone had any luck claiming back fees from either Direct Line or First Direct? I am just going back through my old statements and it is very difficult to find out what is an exit fee and what is just normal interest.

Joelikes2savemoney

Followed numerous advice on the links and phoned the Halifax Mortgage Services on 08457 273747. The automated message gives you option 2 to speak direct to the department dealing with this issue. Three minutes later I should be £100.00 to the better. No hassle they will check out what the difference is and send a confirmation letter in the post.
Abbey - Closed this mortage in 2003. They are going to check the records and write to me. All for a few minutes on the phone. Excellent advice Martin. Simple to do, going to tackle my bank next about OD charges. Consumer power or what!:rotfl:

Now got £100.00 cheque from HBOS, forms sent to Abbey waiting for response.

MarkyMarkD

SusanD wrote:

The early exit admin fee with Dunfermline BS was £75 when I took out my mortgage in 2001 and I was charged £150 when it was redeemed in Jan 2006. I sent in the completed template and was disappointed to receive a letter saying that they don't consider that a refund is due and that they are "confident the current amount properly meets the cost to the Society".

Having read all the success stories in the forum here, I wanted to pursue this further. I called their Customer Support only to be told that it was a decision the Society's Board of Directors had taken and that they would not be paying out any of these claims. The only option I have been given is to contact the Financial Ombudsman.

Has anyone got any advice?

There's nothing to stop any lender taking this approach, as long as they do it consistently and give the FSA a fair explanation of the reason for the increase from £75 to £150.

£150 is a relatively low charge and Dunfermline must believe that they can justify such a charge both in absolute terms and as an increase over the 5 year period you had your mortgage.

I don't see any point contacting the FOS at this stage; Dunfermline have until 28 February to tell the FSA what they are proposing to do and FSA will then (presumably) take some time to consider whether this is reasonable; Dunfermline aren't going to take any action until they hear back from FSA and I doubt FOS will do anything about it whilst the matter is in abeyance.

treaclebob

MEF was £150 when I took out my Standard Life Bank mortgage in 2002 - I was charged £185 when i left in 2005. I phoned the SL number and was told my details would be passed to their dedicated team set up to deal with this issue. Today I have received confirmation of refund of £35. Not a huge amount but sure I might as well have it as them!