We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
Mortgage Application Fee Refund
mrp21
Posts: 60 Forumite
Hi,
Recently I had applied for a mortgage for a new home. I have now been told my application is being rejected. The thing that annoys me is that they had taken money from my account for the survey and mortgage product fee. Now they are refusing to refund that money and I'm really angry:mad:
Does anyone have experience or advice on how i can get this money back!
Recently I had applied for a mortgage for a new home. I have now been told my application is being rejected. The thing that annoys me is that they had taken money from my account for the survey and mortgage product fee. Now they are refusing to refund that money and I'm really angry:mad:
Does anyone have experience or advice on how i can get this money back!
0
Comments
-
The upfront fees cover the initial costs incurred by the lender.
Were you given a reason for the decline?0 -
Who on Earth was this with?
They cannot take a product fee and valuation fee if they do not book a valuation or give you the product...
You must be talking at cross purposes...
Double check with them....I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Have they done the valuation?
Why are they refusing to refund it?I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
They went out and did the valuation then decided that we cant get the mortgage because we have childcare costs which impacted our affordability even though we can afford the repayments on the new mortgage. This was with Nationwide. Really bothers me that they took the money then come out with a lame excuse into why they think i cant afford it0
-
-
Then you paid for a lender to value the property and got that valuation you've got little chance of a refund unless you can show that they really shouldn't have instructed the valued so early.
If the way your income breaks down is different to the information on your application you will be unlikely to succeed. If you pushed them to value ASAP the same applies.
The other fee: what is it for? How much? What did the paperwork say about it being non-refundable?0 -
Sorry you did not make it clear that they actually did the valuation, they will not refund.
Did you go direct or through a broker?
Additionally, if broker related did you pay an application fee (£99) or a product fee of £499 or £999 the latter being refundableI am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 349.8K Banking & Borrowing
- 252.6K Reduce Debt & Boost Income
- 453K Spending & Discounts
- 242.7K Work, Benefits & Business
- 619.5K Mortgages, Homes & Bills
- 176.3K Life & Family
- 255.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 15.1K Coronavirus Support Boards