Mortgage Exit Fees successes and failures

jordan8

just a note to say thanks Martin and team, had a barclays/woolwich mortgage which was repaid oct 2006 and was charged £275 Final repayement charge - i think it was stated in original documents that was the fee (hadn't had mortgage that long) but gave them a ring and gave account number and couple of weeks later got back a refund of £213!! way hay!!

wendyhouse1968

MarkyMarkD wrote: »

How about, "back to leaving it alone as Santander probably don't owe me anything anyway"?

Ouch, that's a bit harsh! They have repaid me £156.00 on two other claims so you never know, they might owe me something! Rest assured I will keep you posted.

dolly1975

Hi I'm probably clutching at straws here, but can you reclaim Product Switching fees? I'm with the A&L and in 2007 they charged me £3249 to switch from one product to another.

dunstonh

dolly1975 wrote: »

Hi I'm probably clutching at straws here, but can you reclaim Product Switching fees? I'm with the A&L and in 2007 they charged me £3249 to switch from one product to another.

No you cant. Early repayment charges are levied only to those that have obtained special price terms and are looking to break that contract within the special terms period. Quite fair and lawful.

Uffy64

I recently wrote to Halifax after reading about this on the site. I didn't have a clue what i'd paid or what i should have paid as I swapped in 2005 and didn't/couldn't find the paperwork. Printed off one of Martins letter templates and adjusted a bit. A couple of weeks later i had a letter back offering £175.90 as full and final payment. As I didn't have a clue what I had paid, I've agreed. So £175 coming my way lovely! Thanks to the website.
:T

jen15_2

About 18 months ago, when I first came across this site and the whole mortgage exit fee thing, I rang our previous lender Bank of Scotland and queried the fee we paid when we redeemed our old residential mortgage in 2006, and also a buy to let mortgage that was redeemed about the same time.

When I rang I was told that the accounts were 'archived' somewhere and therefore they couldn't look into it immediately but that they would be in touch in due course. I never heard anything, and forgot about it until a few months ago when I decided to send Martin's letter. I wait, and waited, and waited. I did not get a reply to my letter, so rang again and once again they couldn't help me on the phone as they couldn't see any details for the old account numbers. They did however say that maybe they hadn't responded because the letter had to be signed by both of us, so I duly printed off another letter and we both signed it. This time I faxed it to the number they gave me, as well as sticking the original in the post. Well, that was about 5 weeks ago, and guess what....no response!

Has anyone had the same issue with BoS? I could ring them, but they can't speak to me about it as the accounts are archived, and if I write I just never get an answer. I am beginning to wonder if this is BoS's way of dealing with awkward questions - just to ignore the correspondence. But surely they are not allowed to do this?

Any advice on what to do next would be gratefully received.

brownie63

has anyone recieved any info from a company called mortgage compensation scheme it about whether you were sold the best mortgage for you at the time and if not you could be in for a refund. the company is based in sale cheshire and is a government backed scheme apparently. i am not sure about this seems a little too easy to send your info and if you don't have all the info they want £37.50 to get it from your lender. apparently it is authorised by the ministry of justice all seems ok but is it kosher

W1zz

Alliance and Leicester £295 Redemption Administration Charge

I initially took out my A&L Mortgage in July 2004 but re-mortgaged with them for a 3 year fixed deal in 2006. Although in 2006 I wasn't charged a Redemption Administration Charge, I was charged a £250 'Switcher Administration Fee' for a product ironically called a 'Fixed Rate FeeSaver'.

Going through my old paperwork, it does show an admin fee of £295 in the 2006 Charges leaflet, but it has a side note stating that if the mortgage was taken out before Aug 2004, then the charge will be £195.

Prior to taking out this re-mortgage in 2006, I did look at other mortgages so obtained a written Redemption Quote from A&L which listed a 'Redemption Administration Charge' of £295, but not payable if I stayed with them.

Taking a quoted £295 redemption fee into account, I opted to stay with A&L for the re-mortgage. Although now I realise the fee was miss-quoted and it should have been £195.

I've just been onto the phone to A&L to be told that as I'd taken out a new product in 2006, the fee is correct at £295.

Is this worth pursuing, or just swallow the fee? TIA.

margaret_brownlie

Martin, you are a wizz.
Read the article regarding mortgage exit fees.
I called Halifax and after one call, without knowing any of the previous mortgage details a cheque is being sent in the post for 100 pounds.
Worth the call.
Many thanks
:T

lifferf

I took out my mortgage with Bradford and Bingley in 1997 and changed to Northern Rock in 2006. I paid Bradford and Bingley £235 exit fee. I contacted them by letter after reading your article and have rec'd a letter back saying they are paying me £160 as a reund + £64.28 interest (at 8%) totalling a full refund of £224.28. Many thanks for the heads up on this - I am well pleased. :-)