Mortgage Exit Fees successes and failures

brown1950

ktjcrosbie wrote: »

Hi, Please can you advise, I had greAT SUCCESS WITH THE BANK CHARGE REFUND THROUGH THIS SITE YEARS AGO !

I've just gone through 5 years of separation and divorce after several years of that of ongoing debt through ex, I've checked my mortgage fees having sent off fro full list since taking out in 2004 and they reach a staggering 6,504.60

Including, Arrears charge, late payment fee, Formal notice fee, litigation pack fee, unpaid cheque fee, unpaid direct debit fee, solicitor fee, arrears interest debit, Im proud Im now back on track financially and no late mortgage payments however will I be able to claim all of these back if not which are eligible.

Many Thanks

KJ

I am rather surprised the usual bank defenders have not pointed you in the right direction ??

http://www.moneysavingexpert.com/news/mortgages/2010/01/reclaim-unfair-mortgage-fees-fsa-says

safestored4

They obviouslly had better things to do on a Saturday night. Looking at the link you posted there is nothing to indicate that the charges applied to the account were out of line with the recommended amounts, since the poster has provided no figures to support their complaint.

brown1950

safestored4 wrote: »

They obviouslly had better things to do on a Saturday night. Looking at the link you posted there is nothing to indicate that the charges applied to the account were out of line with the recommended amounts, since the poster has provided no figures to support their complaint.

So obviously you do not agree mortgage arrears fee's are claimable ?
Do you have anything contructive to help the poster ?

Your comment about my posting on a Sat night is pathetic. My post was actually done on a Sunday morning here in Bali !

magpiecottage

ktjcrosbie wrote: »

I've just gone through 5 years of separation and divorce after several years of that of ongoing debt through ex

That suggests this was a joint mortgage. If so, it is likely you will have to make any complaint jointly with your ex.


Generally speaking, the Financial Ombudsman Service will permit charges that it considers to be a genuine reflection of the cost to the lender of dealing with the delinquency of the account. Because we do not know how much those costs were, it is not possible for us to give an opinion of what they would be.

If they were to be deemed unreasonable, then it would be necessary to look at the knock on effect - what other charges might have been incurred that would otherwise have been avoided.

By all means make a complaint but bear in mind that it may be defensible.

Bear in mind, too, that if the lender argues that this has already gone to court (which reference to litigation suggests) FOS may not be willing to look at it.

brown1950 is keen to argue that you should go to court, not use FOS, saying that banks never defend such cases. However, there is a court fee and if you lose, you will not get it back.

Again you will probably have to take action jointly with your ex if the loan was in joint names and if the lender previously won a possession order in court it may be able to argue that the matter was dealt with at that time and should be dismissed accordingly.

This is at odds with what brown1950 says and he will claim I am a "bank defender".

In fact, I only work for small businesses (I do not know of a small bank).

Whilst brown1950 is no doubt telling you what you want to hear, I am telling you what you need to hear if you are to make an informed decision about what to do.

But that decision is yours alone.

brown1950 wrote: »

So obviously you do not agree mortgage arrears fee's are claimable ?

Why have you put an apostrophe after fee? What possession of the mortgage arrears fee are you referring to?

brown1950 wrote: »

Do you have anything contructive to help the poster ?

It seems to me that safestored4 has made a perfectly valid point. ktjcrosbie has not told us what the fees were so, as I said above, we cannot tell. If, for example, each late payment fee was a seventy-five pounds that is likely to be deemed unreasonable. If it was seventy-five pence it is not.

brown1950 wrote: »

Your comment about my posting on a Sat night is pathetic

I think you flatter yourself. safestored4 was referring to those you incorrectly deem to be "bank defenders", not you.

brown1950 wrote: »

My post was actually done on a Sunday morning here in Bali !

Yawn

brown1950

I think we should wait for the OP to advise a breakdown of the £6,504.60 arrears charges.

I will not waste my time arguing with you over mortgage arrears charges which have been shown to be claimable via the courts.
I will leave you and certain other individuals on this site to recommend/support
the FOS route !

dunstonh

brown1950 wrote: »

I think we should wait for the OP to advise a breakdown of the £6,504.60 arrears charges.

I will not waste my time arguing with you over mortgage arrears charges which have been shown to be claimable via the courts.
I will leave you and certain other individuals on this site to recommend/support
the FOS route !

Please keep this thread on topic. Arrears are not the subject of this thread.

magpiecottage

The OP is former MSE Dan. The original post was made about 8 years ago.

brown1950

ktjcrosbie wrote: »

Hi, Please can you advise, I had greAT SUCCESS WITH THE BANK CHARGE REFUND THROUGH THIS SITE YEARS AGO !

I've just gone through 5 years of separation and divorce after several years of that of ongoing debt through ex, I've checked my mortgage fees having sent off fro full list since taking out in 2004 and they reach a staggering £6,504.60

Including, Arrears charge, late payment fee, Formal notice fee, litigation pack fee, unpaid cheque fee, unpaid direct debit fee, solicitor fee, arrears interest debit, Im proud Im now back on track financially and no late mortgage payments however will I be able to claim all of these back if not which are eligible.

Many Thanks

KJ

This was the post i was talking about ! We await the breakdown of his
charges.

walker5

Hi.

Not sure if this thread is still going so just wondering if it relates to recent exit fees, I have recently cleared what was left of my mortgage account but did have to pay an ERC which was stated in a letter, What i cannot understand is the wording some of you may know and can help ( Please note that the dates are showing the ending date for the current percentage and not the ending date for the charge itself ERC End Date 31/01/2017 ) that was when my current product would end and move on to something else for the next 5 years.I payed £ 368.80 exit fee including any interest due up to 07/04/2016.Thanks in advance.

dunstonh

walker5 wrote: »

Hi.

Not sure if this thread is still going so just wondering if it relates to recent exit fees, I have recently cleared what was left of my mortgage account but did have to pay an ERC which was stated in a letter, What i cannot understand is the wording some of you may know and can help ( Please note that the dates are showing the ending date for the current percentage and not the ending date for the charge itself ERC End Date 31/01/2017 ) that was when my current product would end and move on to something else for the next 5 years.I payed £ 368.80 exit fee including any interest due up to 07/04/2016.Thanks in advance.

ERCs are considered fair and reasonable. The exist for good reason. This thread is about mortgage redemption charges and not ERCs.