Mortgage Exit Fees successes and failures

MarkyMarkD

It is obvious what the difference is, Jasper. You took your mortgage out in 2005 - after fees had stopped moving - so no repayment would ever be due with any lender.

Adady REDEEMED their mortgage in 2004, so the fee was set way earlier at £38.50. Therefore - like with any lender - they are entitled to a partial refund.

shazjdoc

Hi i closed a mortgage with I Group who are part of G E money and was charged 88.13 outstanding legal costs, 200.00 discharge costs and 360.00 administration charges. Downloaded the template and wrote to them asking for it back. They have replied The quotation components show 88.13 as outstanding legal costs and 360.00 of admin charges. These both consist of charges you had incurred whilst your account was in arreas. A 30.00 monthly arrears administration charge was application every month your account was inarrears.

In review of the above i can confirm that the mortgage exit fee charge was only 200.00 so you are not entitled to a refund.

Looking on my annual statements i was charged 399.00 in 2005 for fees and charges and 583.38 for fees and charges in 2004 (the 2 years i had the mortgage).
Which were added to the mortgage balance.
I have no original mortgage offer but it does say on the back of the annual statement security discharge 200.00.

So have i already paid fees for being in arreas.

Can anyone Please help!!!

dunstonh

shazjdoc wrote: »

Hi i closed a mortgage with I Group who are part of G E money and was charged 88.13 outstanding legal costs, 200.00 discharge costs and 360.00 administration charges. Downloaded the template and wrote to them asking for it back. They have replied The quotation components show 88.13 as outstanding legal costs and 360.00 of admin charges. These both consist of charges you had incurred whilst your account was in arreas. A 30.00 monthly arrears administration charge was application every month your account was inarrears.

In review of the above i can confirm that the mortgage exit fee charge was only 200.00 so you are not entitled to a refund.

Looking on my annual statements i was charged 399.00 in 2005 for fees and charges and 583.38 for fees and charges in 2004 (the 2 years i had the mortgage).
Which were added to the mortgage balance.
I have no original mortgage offer but it does say on the back of the annual statement security discharge 200.00.

So have i already paid fees for being in arreas.

Can anyone Please help!!!

If the charge was quoted as being £200 and you were charged £200 then you cannot claim anything back. Arrears charges have no impact on redemption charges.

jasperpop

thanks for info..but i still dont get why they can go from £38.50 to £195? and would it be worth asking to justify to difference and why its so much more..

MarkyMarkD

They can go from anything to anything else. They are simply a fee which the lender charges to make profit - like charging interest or anything else.

dduxxx

Hi All,

Reporting a success.....

Following Martin's guidance and using the template I filed a claim with Abbey for their excessive exit charge of £225. Today I received a cheque for the difference of what I should have paid less what I was charged (£126). What a result.....nice to hit back and win for a change!

Ian

:j :j :j :j :j

gigidavo

Can anyone tell me how far back I can go with reclaiming mortgage redemption fees.
Thanks

PaulCW_2

Hi
I read the article in February and called the Halifax number.

They took the details of the old mortgage number, said the exit fee in 2002 was £75. They charged us £175 in 2006. They will send us £100 in the next two weeks.

£100 for a phone call.

Thank you MoneySaving Expert!

Paul

mesgna

Reclaimed MEAF - Alliance & Leicester & Abbey

Read the article and rang both building societies 2 weeks ago. A woman at A&L said we had paid £295 instead of £195 and were due a refund of £100. I said that our contract in 1998 had stated a fee of £85. She said she would pass on the details to the relevant dept. I asked if I could have interest with that too. Two weeks later I received a cheque for £260.40 including interest!

The person I spoke to at Abbey took my details and said that she would send me a form to complete. I signed the declaration and returned it with a covering letter based on Martin's template asking for a refund of £34 plus interest. We'd paid £99 instead of £65 as stated on our contract. Just received a cheque for £34 from Abbey. Didn't get any interest but I nearly didn't bother claiming for this one as it was a small amount but then thought that it would be better in my pocket instead of theirs!

So, thank you so much Martin! We are £294.40 better off now because of your website.

plazydays_2

I have had an interesting chat with ABBEY. I have been told that my exit fee is a fee I am required to pay. I remorgaged with them two years ago and having read this, I thought I would ocntact them as on my statement i was charged 225. They claim this is the right fee. I have asked for it to be reviewed only to be told that the file is in archieve and I mgith even have to pay for them to look at it.