NEW Mortgage Exit Fees Discussion

Noz

Triathlon789 wrote: »

I was with the Principality, and asked about reclaiming my exit fee's, this was there response:

Dear Customer,

Thank your for your recent enquiry.

Please can you put this in writing to us so we can investigate the charges further. However, I can confirm that the customers that are eligible for a refund are customers that took the mortgage out before September 1995 as this is when the legislation changed.

In your letter please confirm as much detail as possible and send it to the following address;

Principality Buildings
Compliance department
PO Box 89
Queen Street
Cardiff
CF10 1UA

What do I do, as I took out my mortgage with then in 2000? Do I have a case?

Thanks, Mark.

Can't see what September 1995 has to do with this as the FSA's findings on MEAFs only were made last year. Complete one of Martin's letter templates and send to the lender.

tony6403

I haven't had the time to read all the posts on here , so this might already have been suggested - I avoided paying early redemption fees by paying all my mortgage except the last £50 . I now get statements asking me for £1.30p per month . The building society still retains my documents in safe keeping.

quidcokid_2

Hi,

I sent IF an email requesting repayment of the fee and got this response:

Thank you for your email.

Where customers applied for a mortgage prior to 31 August 2002 the
Mortgage Exit Fee quoted in the Interest Rate and Charges leaflet
sent with the Terms and Conditions would have been £50.00. Post this
date, Mortgage Exit Fee charges were increased to £140.00.

Intelligent Finance already charge the Mortgage Repayment
Administration Fee in accordance with the principles outlined in the
Statement and therefore no changes are required in order to comply
with the Statement.

Any ideas?

THansk, QKid

dunstonh

Can't see what September 1995 has to do with this as the FSA's findings on MEAFs only were made last year. Complete one of Martin's letter templates and send to the lender.

September 1995 relates to this: http://www.principality.co.uk/Default.aspx?page=587

I sent IF an email requesting repayment of the fee and got this response:

Thank you for your email.

Where customers applied for a mortgage prior to 31 August 2002 the
Mortgage Exit Fee quoted in the Interest Rate and Charges leaflet
sent with the Terms and Conditions would have been £50.00. Post this
date, Mortgage Exit Fee charges were increased to £140.00.

Intelligent Finance already charge the Mortgage Repayment
Administration Fee in accordance with the principles outlined in the
Statement and therefore no changes are required in order to comply
with the Statement.

Any ideas?

It means you were charged what you were told you would be charged when you took the mortgage out and therefore have no grounds to claim a repayment.

quidcokid_2

Does this mean even though I took the mortgage out before 2002 ?

marialouise314

hi
i re-mortgaged with same lender 2004
fees

admin fee £225
additional loan fee £195

anyone know whether i am entitled to refund

dunstonh

re-mortgaged with same lender

You cannot remortgage from the same lender. Remortgage results in a change of lender.

What you mean is that you bought a new deal with the same lender and that new deal incurred charges. Charges which are legal and valid.

marialouise314

thanks for the help that clears things up for me

tj2949

could any body give me advice on wethere i can claim charges that my morgage lender has charged me over the years for being late with my payments I have finnished paying my morgage in 2003 i use to get charged £20 everytime i missed a payment any advice would be most gratfull

MarkyMarkD

Hi tj and welcome. Please ask that question in a separate thread as this one is just about mortgage exit charges.