Mortgage Exit Fees successes and failures

philjp0

Hi had 2 mortgages with northern rock the first with a £85 fee and with the last the fee had increased to £250. Sent the standard letter and was offered a £55 refund if i signed a letter stating i would accept as full and final settlement.
the fact they wanted this signing got me suspicipous so i wrote back saying that this wasnt acceptable and that it didnt reflect the genuine cost of the work involved etc......a revised offer of £90 was made with the same acceptance letter.

not sure how either of the £55 or £90 figures arrived at..so even more suspicious & determined to persue. My 3rd letter reiterated points of earlier letters, pointed out their own contract terms state they will charge a reasonable amount in respect of costs ( no other admin fees increased by this %), asked to breakdown the costs involved and pointed out that as mortgages start and finish at different times they were probably charging other people £85 or less for the same work on the same day they charged me £250.finally i advised i would take their response to FS ombudsman.

received a very snotty letter with a third offer of £250 - they had nort even deducted the £85 original fee which i had said i was willing to pay!!

The impression i get is that they are trying it on (hence disclaimer letter) but do not want to go to ombudsman as this may set a precident that costs tham a lot more in the long run then paying a few complainers the full amount.

Hope this helps.

breidge

changed our mortgage over from Halifax in December last year and after reading martins tips rang them up and got a refund of £135.00 with no hassle what so ever. Thanks Martin, now i,ve started to reclaim my bank charges

TenCentsWorth

Karren wrote: »

I contacted West Bromwich beginning of February and was asked to write in, which i did. They wrote back to me advising that a decision would be made in next 28 day days.

I followed up today (almost 28 days later) and was advised that they sent a letter to me today advising that a decision had been made and that they would be in touch in another 28 days !! mmm !

will let you know what the outcome is in ANOTHER 28 days then :rolleyes: !

kx

I had the same 28 days notice regarding my query on my exit fees and this has now been resolved with my acceptence of a £395.00 re-embersement.
In addition to the mortgage itself I also questioned the exit fees relating to a loan I had taken out within the mortage which they had also increased, so I guess this is included in the above settlement.
They seem to be willing to go back to initial agreement costs.
Best of luck.

Senga_Yo

After reading the article about this I sent the Northern Rock Martin's template letter advising them when I took out the mortgage with them the fee quoted was £75. When I left a coulple of years ago I was charged £225 discharge fee. Two weeks later I have had a letter back offering a refund of £150! Not bad for a few minutes work. Thank you Martin.

Bartie_2

Mortgage taken out 1993, paid off last year, fee charged £225 (which I queried at the time) - Abbey response to my claim now is that the original mortgage 'clearly specified a MRF of £225' .

I cannot see anything on the mortgage offer or paperwork so will continue my claim !!

---

2 weeks later....
Appologies received from Abbey 'for their error' and enclosing cheque for £175.

Moral is - if you think you are right, keep going at it.

So one charity is £175 better off - after all I had already paid over the money and it's nice to think that Abbey are helping third world development.

samuela66

notsodumbblonde wrote: »

Yes, Sam that's a good idea.

I wonder if Brian and Sam actually spoke to someone from the designated team at the Halifax (HBOS) set up to deal with this issue.

Contact them again on the dedicated Halifax telephone no: 08451 203033 , it sounds as if you may have spoken to someone unaware of the F.S.A. ruling.

If this fails write to them and keep a copy of your letter.

Good Luck

Hi NSDblonde,

After waiting nearly 3 weeks for this "supposed" paperwork, Just spoke to Halifax again, the gent was more helpful, went off to look at the figures and said yes the fee of £75 was the same fugure at the end of the mortgage as at the beginning so no I'm not entitled to anything?????????????????????????

sam

kayakgirl

got £100 back from Halifax and by OH didnt believe me - so i wrote the letter for him and £220 cheque came in through the post yesterday - now all his friends want to know what to write and where to send it - i just send them to you martin thanks

:money:

MBlake

After only 2 mins on the phone to C&G, I managed to obtain £135 refund, plus £7.77 interest....

No letter needed, it sounded like they were waiting for people to call ....

Thank you Martin...!! :j

chesmon

I'm moving house soon and Alliance & Leicester charged £295 for redemption admin fee. I used your template letter and have just been informed by A&L they are reducing this to just £75, a gain to me of £220! I can't believe it, no hassle from them. Thanks Martin, I think you're wonderful! About time this rip-off was outlawed for good.

farquarpigmix

I contacted old Mortgage company 3 weeks ago, who told me to write in asking for them to have a look. To date I have received no reply, what else can I do?

I tried to used Martins template letter but was unable to open it. Could anybody cut & paste for me please?

Cheers
Farquar