Mortgage Exit Fees successes and failures

ruthballantine

Sent the letter on Friday, got reply today, £125 refund into my account tomorrow!! Brill

loopylass30

Just rang up Capstone and asked to claim back my fees, i was put on hold for about 2 mins then told a cheque for £50 will be with me in 7 to 10 days

yippeeeeeeeee

jennifernil

rang Halifax on friday re our 2 year mortgage which was redeemed in november 2006, should be a cheque for £75 on its way to us soon.

daughter rang them today re her 3 year mortgage which was redeemed february 2007, she is to get a £100 refund.

was all pretty straightforward, just hope the cheques do turn up!

joyous1234

Hi,

Firstly I apologise, this is my first time on this site and there were way too many posts to scroll through to try to get the answer to my query.

Secondly, I am looking for advice on whether I can claim back some of the Redemption Administration Charge on my mortgage.

In brief, took out my mortgage with A & L in August 1997 and repaid it in January 2008. Was charged £295.00 in Jan 08 on repayment of mortgage.

Any help would be appreciated.

pat_strong

O.k. so, I keenly check this site, knew about the overcharges and though my mortgage finished over six years ago and we had 'very reasonable' lender, I wrote my letter last week. I did't have any details of the mortgage and couldn't remember what we paid. I'm pretty astute, so probably was fairly happy at the time. sent letter last Friday, reply today as follows:
We have checked, the exit fee in your contract was £90.00, when we checked your account, we notice that you WERE NOT CHARGED. yippeee.
good job, they're not asking me to now pay. the letter was incredibly polite, efficient and typical of Nationwide!
:T

Steve_xx

pat_strong wrote: »

O.k. so, I keenly check this site, knew about the overcharges and though my mortgage finished over six years ago and we had 'very reasonable' lender, I wrote my letter last week. I did't have any details of the mortgage and couldn't remember what we paid. I'm pretty astute, so probably was fairly happy at the time. sent letter last Friday, reply today as follows:
We have checked, the exit fee in your contract was £90.00, when we checked your account, we notice that you WERE NOT CHARGED. yippeee.
good job, they're not asking me to now pay. the letter was incredibly polite, efficient and typical of Nationwide!
:T

The debt would be "statute barred" since you say it was more than six years old. Therefore, Nationwide couldn't collect it even if they wanted to.

jsherwood2

Hi, Thanks for this. Used a portion of the standard letter template, thought I would go the whole hog and ask for the entire amount back, which with the Nationwide, (being one of the fairer Banks/ Building Societies) kindly said they thought the cost of the fee was fair due to admin costs but that because it wasn't in my contract I didn;t have to oay the increased price. I didn;t know it wasn't on my contract but I am glad I asked for whole lot back. £90. Not much but will pay for a couple of bottles of Whiskey!:T

Thanks very much Martin Lewis and Thanks very much Nationwide.

Moo_2

I phoned Britannia last Friday. I was overcharged by £50, which they said they would look into.

Today I received a cheque for £100 and a letter of apology.

Fantastic, thanks MSE.

MarkyMarkD

Joyous

You haven't given the key bit of information, which is whether you switched products during your 11 years with A&L. If you didn't, then you have been over-charged. But if you switched products (say) 2 years before redeeming, you were probably charged the correct amount.

Plebeian_2

After my initial enquiry to Halifax regarding my MEAF payment last thursday,today received a cheque from them for £135.00.

Well done Halifax and thanks again Martin.

p.s. Great though this refund is, why was the onus put on those of us who paid it to have to claim it back and not on the institution who charged it to refund it automatically when the FSA ruled that they had overcharged us in the first place.

Just a thought.