Mortgage Exit Fees successes and failures

bubbles16

Hi all

Just wanted to say, sent two template letters off the other day to claim MEAF's. One was to Lloyds TSB (C&G) and the other to Northern Rock. I posted them on the Friday and had a cheque from C&G on the Tuesday, no hassle. Northern Rock have acknowledged my letter and are looking into the matter.:T

Sire

I was charged £225 as a mortgage exit fee by NatWest. I queried the whole amount using Martin's Template for asking whole lot back and received a call today to say that the whole amount is to be refunded. So the maxim that if you dont ask, you dont get holds very true in this case!:)

doug731

I was charged £3000 by Mortgage Works when I my mortgage from one product to another within the same company. Is this right

Doug 731

Steve_xx

doug731 wrote: »

I was charged £3000 by Mortgage Works when I my mortgage from one product to another within the same company. Is this right

Doug 731

If you were charged a fee of 3k because you terminated your agreement early then it's probably right. You would have to look at the details of your agreement to see what the penalty was if you decided to end the agreement early.

This thread is relating to those fees charged by lenders for redeeming a mortgage where there are no tie-ins, ie the lender has levied a fee for the administration involved in closing a mortgage down.

doug731

All i did was to change from a normal mortgage to a fixed rate, i stay with mortgage works, and for that small exercise i was charged £3000, that seems a lot to me. But as you say its in the agreement

dunstonh

doug731 wrote: »

All i did was to change from a normal mortgage to a fixed rate, i stay with mortgage works, and for that small exercise i was charged £3000, that seems a lot to me. But as you say its in the agreement

You must have been on a tied in deal to have a fee like that. Or the fixed rate you bought had a really high fee (dont recall seeing one that high).

MarkyMarkD

Presumably, you chose to switch and despite the level of the fee, it was financially worth your while to do so. In which case, you've got nothing to complain about.

If, however, the fee makes switching a bad idea financially, you shouldn't (wouldn't?) have switched. Simples.

loulala1

:jrang 2 banks on friday, im entitled to £125. im writing to 2 other banks so hopefully i will get more.

zoo-mob

Phoned RBS Mortgage Centre on Friday 5th March about exiting fees paid when I sold my apartment 3 years ago. They told me that I had paid £225 for exiting and that it should have been £85. They offerred me a refund of £140 immediately. I received my cheque this morning for £150!! HURRAY!!:rotfl::rotfl::rotfl:

kai12372

hi all switched mortgage from aliance & leicester in 2006 and paid £295 exit fee.thanks to this site i wrote off to aliance and leicester and was sent a letter a couple of days later to be told that i was aware of these fees .i then wrote a letter back to them that i still wasnt happy and they has to justify these charges,a week later they refunded me the full £295 exit fee.thanks to martin:T:T:T:T:T