Mortgage Exit Fees successes and failures

Staffielover

Hi, I hope someone can help me with a query. I rang the A&L mortgage customer relations to request a refund of our exit fees. Unfortunately, I can't find our original document so I couldn't quote an account number and I can't remember what exit fees we paid. I explained the mortgage was taken out in Summer 2003 and was asked the purpose of my call. I said that I wanted to claim a refund of the mortgage exit fees and quoted the info in Martin's article and the rates that were shown in the table. I was told that A&L's exit fees have always been £295 and were not reduced to £90 with effect from 1997. As they have not reduced the fees does this mean we're not entitled to a refund? Hope someone can give me some guidance on what to do next - thanks a lot.

dunstonh

I was told that A&L's exit fees have always been £295 and were not reduced to £90 with effect from 1997.

That matches my memory. I used to do mortgages in the 90s and they were £295. They used it as a marketing point as they effectively moved some of the front end charge on to the back and said if you stayed with them as each deal expired it would save you money. And it did.

As they have not reduced the fees does this mean we're not entitled to a refund?

That is right. The ruling is that you should be refunded the difference between what it was when you bought the mortgage and what you paid.

princessfufu

anniey wrote: »

Hi,
Has anyone had success from the Ombudsman when beyond the time limit?
Just been turned down by Northern Rock because out of time limit.
(Mortgage was redeemed in 2005. Was charged £250, charge was £150 when I took the mortgage out in 2002)
The first I heard about this particular bank robbery was here on MSE in April.
Is that a good enough argument to have my case considered, or anyone made a better argument for why they should be heard beyond the 6 year limit?
Thanks,
Anniey

Hi anniet, I just got my long awaited NR letter today saying the same thing. They say that in line with FSA rules the FOS and NR are only obliged to consider complaints where the event was within the last 6 years (mine was redeemed in 2004).

so I guess there is no point in pursuing?

PFF

BaconandEggs

NRAM appear to be pretty slow and inefficient at processing my claim.

My initial claim was not logged on their system for over week from me sending it (via email). I then did not hear anything from them for over a month. They have agreed to refund the amount and I've sent off details of the account for it to be paid into. That was 2-3 weeks ago. I phoned to see if they had received it and they couldn't find any details that matched my account number (that's happened a few times). I've been told it will take 28 working days to process payment.

Looking forward to this being paid so I never have to deal with NRAM again.
I'm glad I've not been using their standard 0845 number to call them. It would have costed a packet.

dunstonh

Hi anniet, I just got my long awaited NR letter today saying the same thing. They say that in line with FSA rules the FOS and NR are only obliged to consider complaints where the event was within the last 6 years (mine was redeemed in 2004).

so I guess there is no point in pursuing?

The FSA does have a 3 year/6 year rule but I cant see how they can apply it given the requirements. It is 6 years from the event or 3 years from being reasonably aware that there was an issue.

Sheldor

I wrote to Yorkshire BS a couple of months ago, as soon as I heard about this issue. Admittedly I left them about 10 years ago now but I thought it was worth a try writing to them.
So far they have just ignored me.

Wykina

:j

Hi
I used Martin's Template for claiming my mortgage exit fee. It was from a mortgage with C & G back in 2008. They charged us £225. I asked for £231 back as per formula on the letter template. I had a letter back on Saturday 14/7/12 offering me £225 as a final settlement! Result-very happy. It really is worth doing this and all for the cost of a stamp!
Thanks you MSE.

Linda_1979

I very rarely look on here as have very little spare time due to work/family & studies life. That will now change however! :-)

Last week after another bleak look at my finances I decided to get inspired logged on here, saw the article on claiming back the Mortgage Exit Fees and got the ball rolling, especially since over the years I have moved home and remortgaged a number of times. (Incidentally I am also a Mortgage Broker!)

I downloaded the free templates and duly completed those and posted and faxed them off on 6th JULY 2012.

Within days here are the refunds:

BM Solutions £150 x 2
Halifax £175
TMB £250
Total £725!!!!!!!!!!

AMAZING! I am delighted especially when there is a summer holiday that needs paying off. Thank you so much Martin & Team. I really wanted to share my good news and also inspire everyone else to fight back. We have all been ripped off far too long. What a lovely feeling to get your money back.

Thank you once again x

DaveOrRodney

Halifax £350 refund on 4 mortgages since 1998 and all for a 2 minute phone call, success!! Many thanks Martin & the nice people at the Halifax:)

nicnic6

I made two phonecalls and was pleased as I was entitled to a £207 refund off C&G and a further £175 off Halifax!!! I am awaiting my cheques which I have been informed I will recieve in the next 10 days!!! Thanks Martin