£180 Arrangement Fee To Borrow £4k On Existing Halifax Mortgage

twobob_2

Hi everyone,

With everyone currently talking about reclaiming exit fees it set my mind thinking.

Me and my OH arranged to borrow an extra 4k on top of our existing mortgage, arraged to see them on a Saturday morning and they did it there and then. The only thing is they charged us £180 for the privilage.

This was about 3 yrs ago.

Can I/has anyone previously challenged this type of charge?

Thanks for any help in advance

chivers1977

Right, you have paid for a service which you have received.

While if you harangue Halifax for long enough, you will get it back as they will not go to the FOS for this, the question is, you knew 4 yrs ago that the fee was payable and agreed to it to receive the service provided.

regularsaver1

They do charge a fee for additional lending, further advance fee - now £299 regardless of amount

- generally most lenders charge this, if not all

To do the further advance you would have paid this fee - otherwise you could have decided not to borrow more funds

The arrangement fee - is a service charge and not a penalty