Mortgage Exit Fees successes and failures

BLUESUNSHINE_2

After reading the article on this site regarding mortgage exit fees i contacted Abbey and recieved a form to fill in .
Sent the form back on the 13th and recieved a cheque for £130.00 in the post today .

hullgal_2

Hi,

A big thank you to Martin for alerting me to this opportunity.
I was charged £225 to get out of an Abbey mortgage in May 2006. All I had to do was telephone them, then complete and return the form they supplied. A few days later a cheque for £126 arrived. I'm over the moon!

disciple

:money:

I was also charged a £225 exit fee with an Abbey mortgage in May 2005. I telephone them, they sent me a form to complete... it was as if they were expecting the call, they said they have a team dedicated to deal with this area. I received a cheque for £126 today. Money I never realised was owed to me!!!! :T

kevkit

Used the template letter.....sent to Leeds (and holbeck) Building Society........I got a check for £195 on the 12 March from them, in response to the letter I sent to them and due to the FSA "statement"

Result!! :-)

K Hobbs. North London

misfire22

Hi

Cheque arrived this morning!

MOTORCYCYCLEMAN

Sent letter to Standard Life Bank complaining about exit fee of £200
5 days later got a 2 line letter and cheque for £200 !!!
I did wonder if rules might be different as Standard Life Is Scottish based
Thats the easiest money ive ever had CHEERS MARTIN YOURE A STAR

almond

almond wrote: »

are going to try to reclaim with leeds and holbeck bs but I rang yesterday
to ask for figures was told I needed to put it in writing.
I have no paperwork we took out the mortgage about 15years ago and
I changed to abbey three years ago after getting divorced.
any ideas what I need to put in letter.

just to say thanks
sent letter wednesday evening got a reply this morning with cheque for
£75 only problem its in joint names so I am going to send it back and ask
them to make one out in my name.
big thanks

MarkyMarkD

barney1977 wrote: »

I had been with the Alliance and Leicester from 1980 to 2006 (loyalty or what?). Last summer I switched building societies and got hit with the £295 charge. I sent off a letter based on Martin's template (cheers marting :beer: ) and got a reply from A&L extract below:

"Having received our records I can see that you agreed to a new mortgage product with us after this charge was increased in August 2004....this would have been detailed in the leaflet that was included with the Annual Mortgage Statement you received each year since then. In the circumstances I do not feel that this has been unfairly applied and, therefore, I cannot agree to refund any part of this to you."

OK I did from time to time look for deals with A&L but I was never aware that by doing so I was agreeing to the £295 charge.

Any advice would be appreciated.

Barney

Barney

The FSA ruling is explicit that anyone who has taken a further loan, or switched products, after the date of their original mortgage is thereby accepting the MEAF applicable at that date. A&L are following this guidance to the letter.

At the time you were offered your product switch, the MEAF would have been £295 and hence it's the correct amount for A&L to apply in your case.

The FSA aren't accepting the "I wasn't aware that by doing this I was accepting a £295 charge...", they are saying that you are deemed to have accepted it as it was part of the deal that you signed up to when you switched product.

Penelope_Penguin

almond wrote: »

just to say thanks
sent letter wednesday evening got a reply this morning with cheque for
£75 only problem its in joint names so I am going to send it back and ask
them to make one out in my name.
big thanks

Hi, Almond. If the mortgage on which you're claiming is in joint names, I think the lender is obliged to make the refund cheque in joint names. This is what it says on the form I've just completed for Abbey.

Will be interested to see what response you get.

Penny. x

sharnie48

:j Took out mortgage in 1988 with A & L - redeemed it in Oct 2005 and paid £295 in charges. Phoned A & L in February - had a couple of letters saying it was being dealt with and this morning a cheque arrived for £287.50. Letter accompanying it said they have decided to reduce the fee payable to customers who took out their mortgage before Aug 2004 to the original level. I feel a shopping spree coming on!!