Mortgage Exit Fees discussion

pilotjames_2

The Halifax always said to me that if I moved to another Halifx mortgage than I wouldn't be charged early redemption penalties. When I did move mortgage I moved to IF...and Halifax company. At the time I took their argument that it is a different company albiet within the Halifax coporate umbrella. So how is it that the mortgage on my IF account explicitly says 'Halifax Mortgage'.

Should I complain and try to get some of the money back?

Either way i'm going to write about the discharge fees and see where I get to. Nothing lost...except the price of a stamp.

Dorset_Diver

I have just reclaimed over payments from both Barclays (previously the Woolwich) and the Halifax. Barclays were a dream. In about five minute I had a full refund plus interest, and the repayment was made directly to my bank account in record time. Thank you Barclay.

The Halifax by comparison was a nightmare. Eventually they agreed to make the repayment but declined to pay interest. I pressed the point and finally achieved a settlement; so it pays to keep up the pressure.

Why did the FSA not insisted that the mortgage companies review all their records and give the refund without being asked. I can see that they would be only to keen to leave it up to the customer because most will not claim.

Dorset Diver

Bernard_Coleslaw

Dorset_Diver wrote:

The Halifax by comparison was a nightmare. Eventually they agreed to make the repayment but declined to pay interest. I pressed the point and finally achieved a settlement; so it pays to keep up the pressure.

As far as I know the FSA haven't told lenders they must pay interest on the amount they've overcharged. So it is down to individual companies. To be honest, I'd just be happy with the refund!

Why did the FSA not insisted that the mortgage companies review all their records and give the refund without being asked.

Because it's difficult to send a refund to someone if you don't know their address, perhaps?

hk_chick

rooo wrote:

I saw the Money Tips email come in last night and decided to check the details on my last Re-mortgage which was with The Chelsea.

In my original Mortgage Offer (2004), and Terms and Conditions Booklet, the Sealing Fee was £100. However, when I switched last April (2006), they charged my £175. It's not a huge amount of money, but I would rather it be in my pocket than theirs, so I am definitely going to give this a go!

by far the most helpful post in this thread for me. I entered into another fixed rate period with Chelsea last year. I'll be checking my statements tonight - hadn't occured to me that they might have done the same!

Have written to Abbey National to request details on the account I settled in 2004. I know they charged me high fees as I hadn't finished my fixed rate with them, but they refused to transfer my mortage to my new flat, so it's their problem now!!

Merlin139

Searched the to see if anyone has mentioned the Yorkshire Building Society, but could not find anything.

I wrote to them on Sunday and they have replied today saying that they are currently considering the FSA's recommendation, and they have until the end of February to make a decision. Just have to wait then.

Amazed at the answer, was expecting to get a cheque straight away. I have had 3 years of superb service from them. Was sad to leave them but they could not do me such a good deal.

gozza

MarkyMarkD wrote:

They've only known about the FSA ruling for 11 days. I am not at all surprised that they haven't been able to make the systems changes to their automated redemption quotation systems.

I suppose you're right. just cant help being a bit cynical about them.they've {banks}tried to get out of situations before and can be so sneaky.dont take much for me to be off with them these days!

Jet

Whoohoo. 5 minute phone call. Cheque on the way from Halifax for £100.

Thanks Martin. :T

dollydoodah

Could anyone tell me the Halifax fees in 1998 (when I took the mortgage out), and 2004 when I changed lender? They have given me £60 but I am sure the difference should be more than that.....only shredded paperwork a couple of weeks ago as well!

Thanks

Jet

dollydoodah wrote:

Could anyone tell me the Halifax fees in 1998 (when I took the mortgage out), and 2004 when I changed lender? They have given me £60 but I am sure the difference should be more than that.....only shredded paperwork a couple of weeks ago as well!

According to thisismoney.co.uk, exit fees were £75 prior to 2004.

libbyliberty

I have checked my mortgage offer and no where does it mention any mortgage discharge fees yet I have been charged £250 when I settled the mortgage in December 06. I telephoned Northern Rock who said that I will be given a £55 refund as the fee was only £195 when I took the mortgage out. What I am confused about is how I can be charged any fee at all when no fee is mentioned in my offer letter. The lady at Northern Rock said it was shown on a leaflet when I took out the mortgage but I do not see how this can be leaglly binding when there was no mention of it in any offer letter and I have no proof that I ever received this leaflet.

Please advise if you can