Mortgage Exit Fees successes and failures

dunstonh

have received a mortgage redemption statement from Northern Rock stating a fee of £250 for "Discharge of Mortgage fees". Firstly is this the same as a exit fee.

Yes it is.

Also is £250 excessive and is it worth writing to them.

doesnt matter if it is or it isnt. That isnt what the ruling was about. It was the increase from when you took out the last mortgage deal. So, look at the offer letter on the last fixed rate you had (as that is when you agree to revised terms) and if its £250 then and you are being charged £250 now then you have nothing to claim. If it was less then you can claim the difference.

f1_fan_4

thanks for the advice on mortgage exit fees. i got a refund of £100.00 from a fee of £175.00 paid out 3 yrs ago to halifak. i used your template on what to say and there were no questions asked other than the ones you predicted. thanks:j:money:

Mel_P_3

As I change my mortgage every couple of years I thought I'd probably be able to find some exit fees that I could claim. Despite searching through all of my old documents I couldn't see anything relating to this, but filled in the template letter and sent it off anyway.....Received a cheque for £155 from Cheltenham & Gloucester a week later and another for £205 from First Active as well!!! Took a max of 30 minutes to check documents and fill in the letters, so time well spent :j

Thanks!

04scarlett

We were charged £295 by A & L in Dec 2007, it was on our contract but we phoned anyway. We had a response by letter stating we were not entitled to a refund. I wrote back asking for a breakdown of costs along with a justification for each item and received a cheque this morning for £295!! Thank you!!

MarkyMarkD

They do not NEED to justify each cost. You agreed to pay £295 and you should have paid £295.

All you have done is stolen £295 from Santander's shareholders. Thanks a bunch.

Steve_xx

MarkyMarkD wrote: »

They do not NEED to justify each cost. You agreed to pay £295 and you should have paid £295.

All you have done is stolen £295 from Santander's shareholders. Thanks a bunch.

The poster hasn't stolen £295. The bank had a choice whether or not to contest the charge. For some strange reason these hapless banks choose not to contest these requests for refunds.

In any case £295 is a drop in the ocean when compared to the hundreds of billions that the banks have ripped-off the UK taxpayer for.

dunstonh

For some strange reason these hapless banks choose not to contest these requests for refunds.

Because pain in the next customers threatening them with the FOS costs them more even when the FOS will throw the complaint out. Cheaper to pay and get rid of them.

Doesnt make it right and just highlights how the FOS is being abused and why there is increasing pressure to remove the ability to complain for trivial matters or introduce a complaining charge.

Steve_xx

dunstonh wrote: »

Because pain in the next customers threatening them with the FOS costs them more even when the FOS will throw the complaint out. Cheaper to pay and get rid of them.

Doesnt make it right and just highlights how the FOS is being abused and why there is increasing pressure to remove the ability to complain for trivial matters or introduce a complaining charge.

Pity the UK taxpayer can't simply say that the banks are a pain in the neck, and then politely tell them to sort their own problems out.

DIAMONDSAVER_2

I rang Halifax and was told that it was £175 when I joined in 2006 and I paid £175 to leave in 2008 so I am owed no money......I am slightly confused, I thought the charges were only supposed to be £50. That is what Martin says is approximately how much it is to end a mortgage thats why we are all trying to get the charges back.

Or is it only when the charges have changed from joining to end????

Sorry new to this....not ven sure if I am putting this in the right part???

Help!!!

dunstonh

Pity the UK taxpayer can't simply say that the banks are a pain in the neck, and then politely tell them to sort their own problems out.

Two wrongs dont make a right.

......I am slightly confused, I thought the charges were only supposed to be £50. That is what Martin says is approximately how much it is to end a mortgage thats why we are all trying to get the charges back.

Martin does not say that. Although even if he does it doesnt matter as that isnt what the FSA or FOS say.

Or is it only when the charges have changed from joining to end????

That is the ruling. The charge shouldnt change (beyone reason, although the FSA have only given waiver on a minority) from the point you signed your last offer letter (last deal you arranged) and the final point. Any difference you have been charged you are entitled to have returned.