Mortgage Exit Fees successes and failures

shelly1964

I am pretty sure we had to pay an early settlement fee.

_Andy_

shelly1964 wrote: »

I am pretty sure we had to pay an early settlement fee.

Nothing wrong with that - the only time there is anything to reclaim is if the exit fee is more than what you agreed to when you took the mortgage out.
An early settlement fee is something different and is perfectly legit and again would have been detailed in your mortgage offer. Nothing to reclaim at all.

lyndanic

Hi

I have just phoned Mortgage trust and asked about my mortgage exit fees on buy to let mortgage i had with them. According to them they can charge what they like to Buy to let customers as it is a business! So I cannot claim is this true???:rolleyes:

Dalvinder

Tried to claim the difference between the contract mortgage exit fee and increased fee from Paragon. Paragon refused to give any refund and I was told that the FSA ruling did not apply to "buy-to-let" mortgages (even though the mortgage is in respect of residential premises) and this was a commercial deal with the unfair contract terms act did not apply. The ombudsman upheld this view.

Does anyone know whether the FSA's decision applies to all mortgages (ie including buy-to-lets)?

dunstonh

I have just phoned Mortgage trust and asked about my mortgage exit fees on buy to let mortgage i had with them. According to them they can charge what they like to Buy to let customers as it is a business! So I cannot claim is this true???:rolleyes:

That is correct. Buy to let is a commercial activity and the FSA ruling does not apply to it.

Does anyone know whether the FSA's decision applies to all mortgages (ie including buy-to-lets)?

Buy to let is a commercial activity. The FSA ruling applied to personal residential mortgages. It did not apply to commercial lending.

MarkyMarkD

Buy-to-let mortgages are not regulated by the FSA. End of story.

lukamc

I rang Abbey today and said I wanted to claim back Mortgage Exit fees from the past. I did not have old mortgage account details but do rememeber being charged £225 to close my mortgage 18 months ago even though I took out a new mortgage with them for which i also paid a fee. I queried this with the bank at the time and was told I would have to write to the mortgage department. This site has given me the incentive to pursue my claim but today the reply I got was that they would send me out a claim form and I could put my details on this. Anyone get this response from Abbey?

MarkyMarkD

If you moved house, then you should have paid an MEAF whether or not you took out a new Abbey mortgage. 18 months ago, they would have definitely charged the correct amount.

dartsman

Can anybody tell me if they have any luck with NEWCASTLE BUILDING SOCIETY started mortgage in MAY 1989 paid off december 2007 cant find papers so dont know how to claim

Once_bitten

dartsman wrote: »

Can anybody tell me if they have any luck with NEWCASTLE BUILDING SOCIETY started mortgage in MAY 1989 paid off december 2007 cant find papers so dont know how to claim

Claim what?