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Help please - Mortgage repayement charge

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darren74
darren74 Posts: 17 Forumite
in Mortgages & endowments
I paid off my mortgage last year with Northern Rock and was charged £617 and an early repayement charge.

Is any of this reclaimable? If so, how is the best way to go about it?

Thanks for your time and help

Darren

Comments

  • breidge
    breidge Posts: 15 Forumite
    Hi DARREN, WHY HAVE YOU NOT LOOKED AT MARTIN LEWIS SITE, OF COURSE YOU CAN CLAIM BACK THE CHARGES, AND THIS SITE TELLS YOU EXECTLY HOW TO DO IT, I JUST READ IT TODAY AND CONTACTED MY PREVIOUS MORTGAGE COMPANY IMMEDIATELY AND THEY ARE SENDING ME A CHEQUE FOR £135 WHICH I WAS OVERCHARGED. GOOD LUCK
  • AndrewSmith
    AndrewSmith Posts: 2,871 Forumite
    It is not reclaimable as it is an early redemption penalty for ending an incentive rate early.

    Do not confuse it with exit charges. They are a completely different thing.
  • dunstonh
    dunstonh Posts: 119,595 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Early redemption charges are not claimable as they are not unfair and not illegal.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • spurs_nut
    spurs_nut Posts: 329 Forumite
    Correct me if I'm wrong. But the op says an early "REPAYMENT" charge.

    Not a "REDEMPTION" charge.

    Are they not two totally different things?
  • AndrewSmith
    AndrewSmith Posts: 2,871 Forumite
    An amount of £617 would be a redemption charge not a repayment charge.
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