Mortgage Exit Fees successes and failures

_Andy_

noodles64 wrote: »

is the recemption fee only paid back to you if the lender has increased it from what they originally were charging or do you get it back if you were charged it, i'm getting confused now!! :cool:

If you were charged more than what was agreed when you took the mortgage you can claim back the difference.

noodles64

can anyone please tell me what a "mortgage guarantee premium" or a "risk charge fee" is ??

noodles64

Thanks Andy at least now i know

Essexdelboy

Hi guys,

In my old mortgage agreement with Bristol and West which i took out in Sept 2006 my MEAF (or in B & West language 'discharge administration fee') was quoted as £195 as per Martins table in this weeks tips email, however i am unsure what i actually paid when i settled?

I have found my old solicitors completion statement but the MEAF is not broken down and just states the amount i paid in redemption of the mortgage in total, (i sold house and paid mortgage off in full).

How can i find out what i paid? or shall i just use the letter template in this weeks tips email and state the above?

Any help would be greatly appreciated.

Essexdelboy

Essexdelboy wrote: »

Hi guys,

In my old mortgage agreement with Bristol and West which i took out in Sept 2006 my MEAF (or in B & West language 'discharge administration fee') was quoted as £195 as per Martins table in this weeks tips email, however i am unsure what i actually paid when i settled?

I have found my old solicitors completion statement but the MEAF is not broken down and just states the amount i paid in redemption of the mortgage in total, (i sold house and paid mortgage off in full).

How can i find out what i paid? or shall i just use the letter template in this weeks tips email and state the above?

Any help would be greatly appreciated.

sorry i should have added i settled the mortgage and paid the MEAF in October 2009

noodles64

Just found out a payment that we made through a mortgage advisor for £5379 which iwethought was for a life policy has turned out to be mortgage payment protection insurance. I called the firm and queried this and they said that it wasn't mis-sold as our situation at the time( 3 years ago) must have warrented the protection. But we have never needed this with previous mortgages which we have had for twenty years now. Any advice would be appreciated.;)

DaveFF

Wrote a very brief letter to Alliance and Leicester just over a fortnight ago. Today I received a cheque for £187.50 and an invitation to take the matter up with their central complaints division if I am not happy.
Gobsmacked at receiving some of my hard-earned back, will try for more as they have opened the gate.
Many thanks to Martin.

cally13

Hi,
I was informed after I dropped onto the SVR that if I wanted to leave and go with another lender then I would be subject to a deeds release fee.This is an admin fee to release their charge on my mortgage.

Natwest said that because my mortgage was drawn down before the rules changed I am still liable to pay this if I wish to leave. I don't remember seeing this and am reluctant to go with another lender because of it.

Is there any way I can argue with them that this is not right or will I need to pay it first and then try to claim it back?
Thanks

dunstonh

cally13 wrote: »

Hi,
I was informed after I dropped onto the SVR that if I wanted to leave and go with another lender then I would be subject to a deeds release fee.This is an admin fee to release their charge on my mortgage.

Natwest said that because my mortgage was drawn down before the rules changed I am still liable to pay this if I wish to leave. I don't remember seeing this and am reluctant to go with another lender because of it.

Is there any way I can argue with them that this is not right or will I need to pay it first and then try to claim it back?
Thanks

If the charge existed at the time you signed the contract and the amount is still the same then you are required to pay it.

The FSA ruling was that the lenders can only charge what you agreed to at the time the mortgage was bought or the last deal you purchased (whichever later). If a lender wanted to increase the charge, it could do so but had to be able to satisfy the FSA that it was reasonable. A couple of lenders have done this but most are sticking with the contract terms.

tweety_pie

After reading about mortgage exit fees in this weeks email, I dug around for some old paper work and phoned the Halifax. Following the advice given on the website I explained that I wanted to reclaim my exit fees. RESULT got a phone call the next day stating that I had been charged £75 for the previous mortgage and £40 for the one before that and they were willing to reimburse fully as a gesture of goodwill. Nice one worth the phone all.