Mortgage Exit Fees successes and failures

drpachu

Hi
Just to let you know cheque for £100 is on its way.5minutes on the dedicated phoneline.kept my account number in hand,rough date of start and end of mortgage+personal details and thats it.Cool.

cashforme

After reading advice on this site, called RBS last Thursday. The member of staff advised she'd look into the matter and call me Monday - which she did. Received a bank transfer of £150 yesterday afternoon! Easiest £150 I've made recently.

Today I'm trying the Halifax for property sold in 2004.

** Update** - just called Halifax - they are refunding me £100 !

Thanks Martin and all posters!

marath0nman

A simple letter as per the template to the Natwest brought within 7 days a cheque for £140. Brilliant - thank you very much Martin.

Mr.H_8

I am pleased to report success.

1. Refund from Mortgage Express (£45 as my mortgage was only with them for 2 years - better than nothing though). Their standard letter argues "We are able to charge for administration in line with any tariff of charges we set. The conditions of the mortgage allow us to vary our fees at our discretion" but goes on to "make a concession in this instance"

2. After a battle I got an interest payment too taking me over the £50 mark. I claimed interest in my letter - their standard letter response ignores entirely the whole topic of interest. So I called and was told the policy is not to pay interest. hmmmmpphhh. I had to threaten that I would persist with the complaint, and take it to the Financial Services Ombudsman or small claims court if necessary - I told them I would, if forced to adopt this route, then be claiming a higher sum based upon the argument that the charges represent an unlawful penalty under English commonlaw rules. - See Martin's 'militant approach'.
Faced with this escalation I hoped Mortgage Express would see that my claim for interest was a mutually agreeable compromise. It worked, and I got a call back after the lady spoke to her manager.

So although Mortgage Express (and I believe B&B) state their policy is not to pay interest they do pay it if you push them. (Martin might need to update the table in his article).

I say to others - claim interest, nothing ventured nothing gained. RE the amounts invloved NB Interest will mount up at 8% p.a. on some of the larger sums that people are due and on longer periods than my own - MEAF was only paid in Aug 2005. After all the mortgage Co had your money for all that time, they are good at charging interest to us all and so should pay interest out in these circumstances.

louised

Nottingham Building Society, sent me a cheque for a £5 today, they charged me £55 instead of £50, better than nothing, worth a quick letter.

I'm still waiting on hearing from the Derbyshire and Nationwide, I've moved a lot in the last 10 Years.

Toddy

Hi,

I paid £225 last Decemeber to exit the Abbey. Just got a cheque for £126. That means they charged me £99 admin fees. It should only cost em £35. They still have £65 of my hard earned. Should I push for it? Have I much chance of success of getting this balnce owed? Is there a letter template for those that have received part re funds?

Help would be appreciated.

Thx,

Toddy

Pompey_girl

Had 3 mortgages with Woolwich which were all redeemed in 2004. Wrote to Woolwich and was then sent letter asking me to ring dedicated number. Rang today and within a matter of 10 minutes was told I would be receiving refunds totalling £284.00 for all 3 mortgages, money to be credited to my account within 5 days! Not bad for a few minutes work! Now waiting to hear from the Abbey about another!!
Thanks Martin!:T

yewoody

We remortgaged last year from Lloyds and were charged £225 admin fee. I couldn't find any paperwork (didn't look too hard) but thought I would ring up on the off chance. All I said was that I couldn't see that our original contract had mentioned a charge. I was put on hold for a couple of minutes and then the young lady informed me that I hadn't signed to agree a charge on my original contract so they would be refunding the whole amount and also interest of £12. Now I just have to wait for the promised cheque, but this took me less than 10 minutes and there was no argument.

charliebrown_2

Hi all,just rang C&G, absolutely brilliant, sending me a bank transfer of £125 pounds plus £13 pounds interest. Have rung all my family and friends and now will ring the Abbey about another mortgage!

Pizzafreak_2

Having read this website on 4th March I dug out my mortgage redemption statement from NatWest of 18 months ago to see that the sealing fee I paid was £225.

Using Martin's template from the site I posted a letter to them on 6th March asking for return of £140.

I have checked my bank account today they have reimbursed me the full amount of £140 directly into my account on the 12th.

Result!

Thank you Martin. :beer: