NEW Mortgage Exit Fees Discussion

wookie_2

After my second letter to the chelsea bbs, i got a cheque this morning for £90, thet said it was a good will gesture, not bad considering i wasent expecting anything, in my second leter to them, as my first attempt they refused, i asked them to give me a detailed break down as to why it costs them £175 to exit my morgage, as i said eairler a lovely cheque arrived this morning, just keep on going if you are turned down, thank you ever one. and thank you martin for this site:T

bekki0405_2

:T Hi
I just wanted to say, that I have been meaning to pull out my mortgage paperwork for some time, but have put it off as I thought it would be complicated. Well, I should not have worried. I put in a few calls to the mortgage companies I have had over the last 7 years, and have had instant success. Kensington Mortgages have stated that they have had a review, and don't owe any thing to their customers. DO I take their word for this? I only have my account numer, and no details over MEAF fees quoted or paid.
But SPML (southern pacific) confirmed overpayment of £50, and I am waiting for a cheque in the post. Also GMAC have said there may be an overpayment made by some customers, but will only check if you write. So I have used the template on this website, and I look forward to some more happy news.
Thanks Martin, I will be scouring the website for more offers and advice!!!

katies_mum

Please does anyone have an address for the Halifax.

Thanks

Noz

katies_mum wrote: »

Please does anyone have an address for the Halifax.

Thanks

• [FONT=Arial, Helvetica]Write to us at:[/FONT] [FONT=Arial, Helvetica]Halifax, Customer Relations, PO Box 548, Leeds LS1 1WU[/FONT]

MarkyMarkD

1Lou28 wrote: »

Really sorry but i dont understand - if the mortgage was joint 50-50 how could my ex pursue them for the full amount? i thought it would be split 50-50?

With a joint mortgage, both borrowers are jointly and severally liable for the debt, and hence jointly and severally entitled to any repayments related to the mortgage.

"Jointly and severally" means that you are both liable to pay the full amount, and the lender doesn't care how you split that as long as they get their wedge. But conversely, if a refund arises, they should pay it to the joint borrowers jointly - with a cheque in joint names or require you jointly to state who should get the money or in what proportions it should be split.

There is no assumption that it should be 50:50 and it is wrong for the lender to assume that it's 50:50.

For all the lender knows, your ex-OH paid all the mortgage payments, supplied the deposit for the property, and was entitled to all the proceeds when it was sold, despite it nominally being in joint names.

In which case, your ex-OH would be fully entitled to the full MEAF refund and would win if they complained about the lender paying you 50% of it without their consent.

dimps69

Hi I'm new here so bear with me. We recently tried to claim back our MEAF with Abbey but received a letter saying that we signed an agreement in 2005 for a loan which stated that we would not get the exit fee reimbursed. My husband does not remember this being explained to him but had signed the loan agreement anyway. Can we still pursue this as they say we can't. Thanks

wookie_2

dimps69 wrote: »

Hi I'm new here so bear with me. We recently tried to claim back our MEAF with Abbey but received a letter saying that we signed an agreement in 2005 for a loan which stated that we would not get the exit fee reimbursed. My husband does not remember this being explained to him but had signed the loan agreement anyway. Can we still pursue this as they say we can't. Thanks

hi, the chelsea told me a very similar story , trying to fob me off, i just asked them to explain and send me a detailed breakdown of their charges and as to why it costs so much, £175, i gave them 14days to reply saying that i will be contacting the FSA, a cheque arrive for £90 with a letter saying it was a jesture of goodwill payment, not bad i as was not expecting anything, so do not give up, good luck.

dimps69

Thanks for that. I will give it a go

mumbomumma

OK - sent the template letter and now rec. a reply saying. . .

After reviewing our records I note at the beginning of your mortgage on the 7th Feb 2000 our MEAF was £100. This was illustrated in our leaflet "Your Guide to Mortgage Charges" provided to you with your mortgage application.

As a gesture of goodwill I would like to offer a refund of £50 being the difference between the £150 that you were charged at the time you repaid the mortgage and £100 that was quoted to you at the time of your mortgage application, and to which you agreed when accepting your mortgage offer.

For the record I dont remember the leaflet, but on our offer of loan paperwork it says "a fee to cover our reasonable administration costs"

So should I accept the £50 or try again for the whole amount?

Noz

Entirely your own choice, however do you have any reason to doubt their calculation.