Mortgage Exit Fees successes and failures

uzubairu

MarkyMarkD wrote: »

It's very unusual for any lender to fail to pay up the correct amount, normally without any need for chasing once they've agreed the amount. Indeed, most would send the cheque, not waste time writing to acknowledge the amount.

We were with Virgin before we switched (July 2006).

Several months after we moved house/mortgage I made a 2 phone calls and received a cheque for £225 within 2 weeks (without having to write or rant).

hotdawg

I just called halifax and didn't have any details except the old mortgage number. Told them i wanted to reclaim mortgage charges and no quibble was told a cheque for 60 pounds was on its way to me.:D My original contract said they would charge 115 but i got charged 175! So thanks Martin!
Cheers:beer:

copperjar

Chuffed to bits. Sent a letter to C&G on Tuesday, received a letter back today saying a cheque is on its way to me for £141!! They've also included some interest. Really wasn't expecting anything - so chuffed.

THE_SN1PER

Hi all, I am new to this site so I would much appreciate some help on my situation. Appologies for the long story
I left Leeds building society July 08 after a 3 year fixed. However I moved home during the 1st year of the 3 year fixed rate and got a bigger mortgage for a bigger home (60k original to 120k). I had 2 mortgages running side by side from the same building society and both ended 1day after the other - july 08. I only had to pay a redemption fee/admin fee/deeds release fee of £199. After reading all of the blogs I decided to request a breakdown of this even though this was stated on my contract. After a various phone calls and frustration I discovered that when I moved home (unknowing to me)Leeds charged me an ERC of approx £1700 (includes £199 as above). To my delight/horror I was told I would be refunded the total amount which I have since received. I then decided to ask if interest (approx £300 according to my calculation using a letter template from MSE)could be claimed and a name and address was given. I sent a letter approx 10.12.08 asking for the interest and for them to reply within 14 days however I have not heard anything.
My questions are:
1) Do I have a claim for interest?
2) If so what is the next step?
3) Do I have a claim to reclaim the £199 admin fee (using MSE letter template) ?

Any advice/help again would be greatly appreciated
Thank you in anticipation

dunstonh

1) Do I have a claim for interest?

It isnt mandatory for them to pay interest on a claim like this. Sometimes they do, sometimes not.

3) Do I have a claim to reclaim the £199 admin fee (using MSE letter template) ?

If the £199 fee was lower when you took the mortgage out then you claim the difference. Not the full amount. If it was £199 at the start then you have nothing to claim.

Grace16

Hi there

First time I have posted on here and asking for some advice. Just over a year ago I took out a mortgage with the Abbey which started off very low, but rises each year. Now, because of circumstances beyond my control (inc the recession!) I am finding the interest rates too high. I have been given advice on redemption fees re changing to another mortgage provider, but I can't find anywhere in my contract which states how much I will have to pay the Abbey to change to a new rate. I guess it varies, but would it not be cheaper than changing providers altogether? Thanks.

_Andy_

Grace16 wrote: »

Hi there

First time I have posted on here and asking for some advice. Just over a year ago I took out a mortgage with the Abbey which started off very low, but rises each year. Now, because of circumstances beyond my control (inc the recession!) I am finding the interest rates too high. I have been given advice on redemption fees re changing to another mortgage provider, but I can't find anywhere in my contract which states how much I will have to pay the Abbey to change to a new rate. I guess it varies, but would it not be cheaper than changing providers altogether? Thanks.

Sounds like you took a stepped fixed rate. If you want to come out of it the redemption fees will be the same whether you stay with Abbey (taking a new product), or changing to another provider.

debrab

:T :T :T :T :T :T :T :T :T
Thanks Martin for the advice!!
I have just came off the phone to Lloyds TSB and they are sending me a cheque for £300

I had three properties before 2007 and when i first called, the girl said on my current property that I wasn't entitled to anything, which surprised me as I had a mortgage with them from 2000-2006. When i mentioned that my solicitor had the original offer and that I was going to check, she said that the system had been upgraded, so decided to do a double check and came back with the above figure. The girl was extremely helpful, so a great thanks to her. Just think £300 for the price of a phone call.:j

TELEPHONE NUMBER I USED WAS 0845 603 1637.
GO FOR IT YOU'VE NOTHING TO LOSE!!!:money:

NStewart67

read the info and decided to phone the woolwich(barclays) as I had closed a mortgage account with them n 2004 , woman on phone was really helpful and directed me to a number which didnt take calls , so I phoned back and got her to put me right through and 2 minutes later they are sending me £122 by bank transfer ..... RESULT !!

Nick_Cooper_3

Just wanted to share a story with you all.
Last November (2008) I switched from an Abbey fixed rate mortgage to a Birmingham Midshires fixed rate mortgage. My Abbey fixed rate period had come to an end so I did not owe them any redemption penalties. So when they charged me £225 deed release fee I was very surprised. When I questioned it, they said it had been in the key facts and I wasn't entitled to get a refund. So I told them that it was disproportionate to the work involved and that they could keep the deeds, owing to the fact that they are stored electronically at the Land Registry office. They said it didn't matter and if I still had a problem I should write to their complaints dept. So I did, and duly received a cheque for the full amount, without any further argument from Abbey. I couldn't believe it. I only made one phone call and wrote one letter and I got my £250 back. So it just goes to show that complaining does work. Even if you previously agreed to something, still complain. You never know, you might get lucky like me! Good luck :j