NEW Mortgage Exit Fees Discussion

mumbomumma

Appreciate its my own choice but just wanted some advice - £100 seems a bit steep when im sure i'd read that admin costs were more like £35 :0(

Thanks anyway

stmidwife

Just received a no from Kensington, the MEAF in contract was £100 they charged £145 on exit. Letter states that they feel charges are justified, strange that they are now only charging £115! Do I try again?

MarkyMarkD

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

The wording you've quoted from Abbey doesn't make sense. There was no concept in 2005 of MEAFs getting reimbursed, so there wouldn't have been wording saying that it would not get reimbursed.

Rather more likely you took a further advance/product switch in 2005 and hence you aren't entitled to any refund because the amount charged and the amount due were the same.

MarkyMarkD

mumbomumma wrote: »

Appreciate its my own choice but just wanted some advice - £100 seems a bit steep when im sure i'd read that admin costs were more like £35 :0(

Thanks anyway

Their actual costs are irrelevant.

If their offer said "a fee to cover our reasonable administration costs" but a fee leaflet, or similar, said that was £100, then £100 is the amount due according to the FSA ruling.

mumbomumma

Hi MarkyMarkD - please excuse my stupidity - ive recently had a baby and seem to have lost gallons of grey matter in the process - do you mean that I should accept the £50, as the £100 was stated in their leaflet or should I challenge the £100 too? . . . . . off to feed baby and find brain :0)

mumbomumma

Thanks for responding to the PM MarkyMarkD :A

Deano71

I'm a little unsure if the exit fees will only apply for those that have had the same mortgage for over 3+ years?

My question is, if have have remortgaged every two years for different reasons, am i able to reclaim? I understand the fees are now clearly stated but wasn't the case for older mortgages.

Can anyone shed any light on this matter please.

Thanks,
Deano

Boogaloou

I just wanted to let the website know that the Halifax is charging £175 as an MEAF and not £0 as the table on the main website refers.

Regards

Noz

Boogaloou wrote: »

I just wanted to let the website know that the Halifax is charging £175 as an MEAF and not £0 as the table on the main website refers.

Regards

It is £0 for new mortgages, no new Halifax mortgage have a MEAF. Existing customer will be charged what is detailed in their contract.

clarkedexter

I've just been talking to some family friends about when they paid off their mortgage.

They were moving abroad, and so sold and paid off the mortgage on their house. They are convinced that the mortgage company charged them £7000 in exit fees.

Have I gone completely barmy? I can't imagine the company charging them that. Does anyone have any ideas? Maybe it was just the final total of fees?

(By the way, just spoke to them and they said that it was an interest-only mortgage - could that have made a difference?)

Thanks,
Dex