Mortgage Release Fee

betmunch

Not if it says that in your mortgage offer.

Have you got the mortgage offer handy?

dunstonh

Shocking that it costs £250 for admin charges!

If you dont agree with that fee, why did you buy that mortgage in the first place?

Is it worth challenging for such a dis-proportional fee?

Who says it is disproportional?

Many lenders actually used it to reduce up front costs and place it at the end. So, you are effectively paying for set up and redemption over a period. (A&L in particular were known for doing that)

sheenaread

Good Afternoon and Happy Easter to you all.

Nearly one month ago I posted about the cost of my mortgage release fee and my last posting was to tell you they were going to send me all the orignal paperwork within 5 working days of my telephone call to them.

Guess what?!!!!

Yes your right absolutely nothing. I gave them about 10 days and then started contacting them by email asking where my information was. I did say in the three emails that I sent that I knew they could not tell me what I wanted to know in an email due to Data Protection, Confidentiality etc. etc. but an acknowledgement of my request would help me know it was dealt with and not IGNORED!

Guess what? Yes your right again. A big fat NOTHING!

So I put it in a letter. (Isn't that a song lyric or something?) and gave them a deadline for replying stating I would put in an official complaint about lack of response to my request.

So guess what I'm going to be doing this Easter weekend? Writing my complaint letter to Bank of Ireland. My mortgage ends in 22 days time so time is running out.

Thrugelmir

sheenaread wrote: »

Good Afternoon and Happy Easter to you all.

Nearly one month ago I posted about the cost of my mortgage release fee and my last posting was to tell you they were going to send me all the orignal paperwork within 5 working days of my telephone call to them.

Guess what?!!!!

Yes your right absolutely nothing. I gave them about 10 days and then started contacting them by email asking where my information was. I did say in the three emails that I sent that I knew they could not tell me what I wanted to know in an email due to Data Protection, Confidentiality etc. etc. but an acknowledgement of my request would help me know it was dealt with and not IGNORED!

Guess what? Yes your right again. A big fat NOTHING!

So I put it in a letter. (Isn't that a song lyric or something?) and gave them a deadline for replying stating I would put in an official complaint about lack of response to my request.

So guess what I'm going to be doing this Easter weekend? Writing my complaint letter to Bank of Ireland. My mortgage ends in 22 days time so time is running out.

Why haven't you got a copy of the paperwork?

sheenaread

As stated in a previous post on this subject my ex husband has the original paperwork and not friendly enough to let me have sight of it.

rachelonna

vivaciousvic wrote: »

I'm about to pay off Santander mortgage, and have to pay the £250 exit fee. Shocking that it costs £250 for admin charges! Unfortunately ex hubby did everything so was unaware. Is it worth challenging for such a dis-proportional fee?

Are exit fees legal these days? I don't have on my Natwest mortgage, but I was looking online and Yorkshire building society who I want to remortgage to soon seem to have one?

sheenaread

If they are are illegal then I win all round. If you find out where we can find the answer to this please let me know.

rachelonna

Don't think it's illegal, just that the costs needed to be proportionate

read the following

http://www.moneysavingexpert.com/reclaim/mortgage-fees

sheenaread

Thank you that is what I am trying to prove as well.

Thrugelmir

sheenaread wrote: »

As stated in a previous post on this subject my ex husband has the original paperwork and not friendly enough to let me have sight of it.

Then you can hardly complain at the lender .........