Mortgage Exit Fees successes and failures

mayb_2

Thanks for explanation MarkyMarkD - I got my cheque for £100 yesterday - so happy bunny today.

MarkyMarkD

rachelshopper wrote: »

Hi
Has anyone successfully claimed from the Principality Building Soc?
Having successfully claimed for myself successfully from Northern Rock, Leeds & Mortgage Works - I did the same for my Mum who was with the Principality but they have come back saying that their charges are justified and refuse to provide a refund despite their exit fees nearly doubling over the term..
I am going to write to the Financial Ombudsman - but wondered if I could avoid this if anyone else has successfully claimed?
Your help would be appreciated!
Rx:

Other people have also posted this about the Principality.

As I've posted before, their argument is that they haven't increased their MEAF more than the increase in their costs and that their terms and conditions specifically allow them to increase their fee in line with their costs.

If that's the truth (and I don't have any reason to disbelieve them) then this is an approach with the FSA's guidelines consider acceptable.

Given that they have published a statement of their approach on their website, I cannot believe that they have NOT agreed it with the FSA.

So, prime facie, their approach has been accepted by the FSA and I don't see why the Ombudsman would overturn that.

I'm sure you also realise that £135 is way, way, lower than almost any other lender's MEAF.

What period are you saying that it's doubled over?

kegs_2

rachelshopper wrote: »

Hi
Has anyone successfully claimed from the Principality Building Soc?
Having successfully claimed for myself successfully from Northern Rock, Leeds & Mortgage Works - I did the same for my Mum who was with the Principality but they have come back saying that their charges are justified and refuse to provide a refund despite their exit fees nearly doubling over the term..
I am going to write to the Financial Ombudsman - but wondered if I could avoid this if anyone else has successfully claimed?
Your help would be appreciated!
Rx:

We had the same letter! After having success with both Natwest and YBS. I have wrote back to them using one of Martin's letters showing the difference in the initial MEAF and what we paid and asked them to justify their costs. That was a week ago and yet to get a response, although I did request a response in 14 days. See if that get me anywhere, it's only £40 but it's the principle!

Elainer

I have just received a cheque in the post from Alliance & Leicester for £75.00, as a refund on MEAFs for two mortgage accounts we closed back in 2003. I had no idea how much the fee had gone up, or how much we had paid, so I just adapted the template letter and sent it. Got the cheque back about a fortnight later. Thanks Martin!

cliffedge

I phoned Abbey, they sent a form for me to fill in which was quite simple.
A week later i had a cheque for £126

tagz

Hi

Exactly the same as cliffedge! Phoned Abbey - got a form -was sent a cheque for £126. The berks sent it made out to both myself and my husband and seeing as we don't have a joint account and asked them not to do so, was not completely happy but we are getting it re-issued.

davetmorgan

Hello everyone just got off the phone to SPML Capstone morgages they owe me £50.00 which will be in the post soon Kensington are looking into it for me A GREAT BIG THANKS TO YOU ALL

marpug

Some success from the Halifax! I sent the original letter from this site to the Halifax asking for repayment of £170 to cover the difference in originally stated MEAF and deed dispatch fees. They wrote back saying they would pay us £135 but not the whole amount as the deed despatch fee was not covered by the FSA ruling. So I wrote back to them quoting from the FSA statement on MEAFs (thanks MarkyMarkD) and saying I wanted the whole amount refunded and my cheque for the full amount of £170 arrived in the post yesterday. I’ve decided to accept their offer. Thanks to Martin and you others for bringing this issue to people’s attention.

Gilean

I just got back £126 from Abbey - only 128 months agao they quoted me £99, then charged me 225 when i redeemed the mortgage at the end of the fixed term to go elsewhere. It was straightforward altho' I objected to them writing back to me to ask me to confirm that i wanted to go ahead and investigate the complaint on receipt of my first letter - i wouldn;t have written if i didn't want to claim, would I?
Anyway, another success for the little people!

Gilean

That should be 18 months ago, not 128!!!!