NEW Mortgage Exit Fees Discussion

MarkyMarkD

Banks aren't in the habit of making up the "original contractual amount" in these cases. They obviously know what fee should have applied based on the start date of your mortgage, and that's what they will generally quote.

roadrash

Hello,
Does anyone know the address to send my letter to for Direct Line (whom I believe are RBS!) and also IF.com?? I have searched but can not find one!

Secondly, has anyone had any success with the above mentioned banks?

Thanks!

dunstonh

roadrash wrote: »

Hello,
Does anyone know the address to send my letter to for Direct Line (whom I believe are RBS!) and also IF.com?? I have searched but can not find one!

Secondly, has anyone had any success with the above mentioned banks?

Thanks!

Most have their addresses on their website.

airtrack12000

Decided to download template letter for Nationwide 2 weeks ago to try and get a fee back that to be honest I dont even know if I was charged. (took about 5 mins to download , delete bits etc and send off).

Got a cheque for £90 this morning!!!!

Excellent

Tony10

Hello,
We have a fixed rate mortgage with Nationwide and yesterday they told me that to remortgage elsewhere Nationwide would charge a £90 deed release fee. Are they within their rights to charge this ? Is it too high?

Many thanks for your help.

Tony

dunstonh

Nationwide would charge a £90 deed release fee. Are they within their rights to charge this ?

Yes. Especially if its the amount that was in force at the time you took the mortgage out.

Is it too high?

doesnt matter if it is or isnt. If its the same fee you agreed when you took out the mortgage then you agreed to pay it when you redeemed the mortgage.

mummy_to_four

Hi
I've just read the stuff about reclaiming MEAF fees and wonder whether we have a claim in relation to a secured loan we have repaid. The loan itself was for £7,000 was taken out in October 2005 and was repaid in August 2006. I have looked at the redemption statement and it transpires we paid back the balance outstanding, interest to the settlement date, early settlement fee and a fee for discharge of security. This last fee was in the sum of £200! Is this something we could try to reclaim? I have read through the contract and cannot find anything relating to a fee for discharge, only an early settlement fee which is fair enough. Is it possible to make a claim or, because it is not a mortgage, is this not possible? Is there a template letter for such a thing? Thanks

BobOngPnoy

I just moved my mortgage with coventry and been charged with £195 redemption fee. When i took out the mortgage in June 2005, it stated in my contract that the redemption fee is £195. Are they within right to charge me this amount? As according to Martin Lewis, it actually costs around £50 for the process.

debi15

I wrote to my bank approx 6 week ago and after 2 weeks i gave them a ring to check progress, they had conveniently lost my letter. I then hand delivered a letter to them and 4 weeks later - still no word. Spoke to them about this 2 weeks ago and they said that they had to send it to head office.

What should i do now, ive tried phoning but they wont return my calls

Please help

Thanks in advance

MarkyMarkD

mummy_to_four Almost all secured loan providers are not / were not regulated by the FSA and hence the FSA ruling doesn't apply to them. So I don't think you will get anywhere complaining.

jmr_1019 The cost is irrelevant. You agreed, in a contract, to pay £195 and you've been charged £195. You aren't entitled to complain or reclaim anything.

debi15 It's more likely that your bank would deal with something like this centrally. Contact their head office complaints department.