Mortgage Exit Fees discussion

arebeia

Just checked my original paperwork from Natwest 18 years ago. It says this mortgage can be repaid at any time" - no mention of any fee, but I've just paid £225. Does that mean I might be able to claim the whole lot back?

Thomas_Crown

Luggworm wrote:

I've just rung them, there was no charge in 2000. I'm now going to post my letter asking for the full £200 they took off me last month!

Cheers Luggworm,thanks for the info. I did email Standard Life Bank but it was out of hours & they havn't had chance to reply yet.

If there was no charge back in 2000 then it looks as though I could get a refund of £150.00.:j I think that I will wait until the end of February before sending them a letter because that seems to be the general concensus of opinion on the forum.

pixelchick10

I'm fairly sure it was £85 in Dec 2004 when we took out the 2 yr mortgage but dont have the origional paperwork - can anyone help? Thnks!

JC_Derby

I was charged £195 for this Redmeption Administration Fee in May 2005 (i left and remortgaged with IF after my tie in had finished) when upto January of that year the fee had only been £125
What id like to know if possible is

Is it a MEAF
Does anyone have any idea what that fee was in 1999
should i just ring them and ask for my some of my money back?

If its only £70 its still better in my bank than theirs!

TY

kashie

Does this apply to second mortgages or secured loans?????

libbyliberty

I took out a mortgage with Northern Rock in September 2004, I have been through the offer letter and cannot find any mention of a 'mortgage discharge fee'.

I settled the mortgage when I sold the house in December 2006 and paid a Discharge of Mortgage fee of £250.00

The £250.00 did appear on my mortgage statements under a illustration of cost of repayment but not in my offer letter.

Does this mean I have a good case ?

Sweepie

If it's not stated in the agreement then they can't charge you for it. NatWest tried it with me £225.00, but I mentioned it wasn't in the agreement I signed, which is legally binding by the way and they dropped the charge.

Sweepie

jj99 wrote:

this is the first time I have used a forum so don't really know what I am doing. I would like to ask a question. On my paperwork for the mortgage, we have been charged a "closing admin charge" is this a mortgage exit fee? Thanks. jj99

Yes it is an exit fee

Beate

Today the boyfriend called up the solicitor who handled his house sale last year because on their breakdown of charges supplied by them the mortgage exit fee was nowhere to be found. He was told that there was no early repayment fee. He said, "no, I am talking about the exit fee." "That's the same thing" she said. I mean I can understand me and you confusing the two, but a solicitor who deals with house sales and paying off mortgages in the process? Makes you wonder. Anyway, she is going to send the breakdown of charges from the mortgage lenders so we will see - the £225 have got to be on there!

regularsaver1

It is not the same thing - and they should know that

also posters - fees for transfer of equity (either to add or remove someone for mortgage) or to borrow more money are service charges, so do not apply here