Mortgage Exit Fee Lender Table

learning_to_save

What have people put in the letter to the Building Society if they do not know what the original amount was and what the actual amount was?

I am writing to West Bromwich and the table doesn't have any figures on for me to put in the template letter as an approximate amount?

MarkyMarkD

You don't need to mention any amounts. The template letter is silly.

Just say that you have been overcharged and you would like them to repay you the amount they owe you.

learning_to_save

Thank you MarkyMarkD for your reply, do you think something as basic as below would be ok?
lts


West Bromwich Building Society,
Customer Care Team,
374 High Street,
West Bromwich,
B70 8LR.


Dear Sir or Madam,

Re. Account/reference number:

After the recent FSA statement on Mortgage Exit Administration Fees (MEAFs), I am writing to complain about the charge on the above account when I exited my mortgage contract with West Bromwich Building Society.

In particular I note that the FSA stated “if a past customer who has paid a higher MEAF to exit, he or she can expect a refund of the difference between the actual MEAF paid on exit and the original MEAF.”

I look forward for a full response to this letter within 14 days.

Yours faithfully,

[YOUR SIGNATURE]
[YOUR NAME (PRINTED)]

the89ers

I took my C & G Mortgage out July 2005.

MEAF on contract was £225, according to C & G.

I was charged £225 which is considerably higher than this web page table stating £50 for year 2002.
Tried over the phone to claim some money back but they said that is the amount agreed. Obvoiusly that is some increase in administration, will send a letter asking for brakedown of charge but don't fancy taking C & G to court!! Anyone else had this problem with C & G or any other bank?

Dan_Collins_2

the89ers wrote: »

I took my C & G Mortgage out July 2005.

MEAF on contract was £225, according to C & G.

I was charged £225 which is considerably higher than this web page table stating £50 for year 2002.
Tried over the phone to claim some money back but they said that is the amount agreed. Obvoiusly that is some increase in administration, will send a letter asking for brakedown of charge but don't fancy taking C & G to court!! Anyone else had this problem with C & G or any other bank?

The point of claiming this charge back is that it has increase infairly since taking the mortgage out. If you sign a contract stating £225 then how can you claim it back??? Banks are there to make money out of us. Maybe we should all ignore the lenders that charge these fee and only use fair lenders then they would have to lower them!

GIRLIEWIND

MoneySaving Newbie


Join Date: Jul 2004
Post Count: 15
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national home loans
Hi
has anyone had any luck with National Home Loans. I had my mortgage with them til 6 years ago. they are a loan company rather than a high street mortgage lender so not sure if i would be eligible for refund?

MarkyMarkD

@Learningtosave - YES! Sorry I missed your reply until today.

MMD

@the89ers - you were charged more for a mortgage started in 2005 than for one started in 2002. So what? That's how it works. They've charged you the correct amount and there's no repayment due.

vbhalla

Useful link that explans what the exit fee was udring which periods in a little more detail than the article that Martin Posted on MSE recently..

http://business.timesonline.co.uk/tol/business/money/property_and_mortgages/article1454612.ece

monkeysarereallyfunny

Not sure if I'll get anything out of them but it was worth a free call!
Just called Alliance & Leicester - instead of 0870 901 1001 I looked on www.saynoto0870.com and got put through to mortgage customer service by calling 0800 056 3254; press option 1 for new quotes (they answer that quite quickly ... !) and when I said I wanted to talk to someone about reclaiming my exit fee he put me through. Good luck!

Helen62

Rang the Skipton to-day and because there is a £50 reduction on these fees we will be getting a cheque for £50 in the post. The telephone number is different from the one Martin gives, I was redirected to 0845 850 1700:D