NEW Mortgage Exit Fees Discussion

vegas23

lisajh29 wrote: »

I dont have any account info from my mortgage with Barclays so want to send the letter rather than call them. I looked at the contacts table in the article and there is only a phone number listed for Barclays, does anyone know the address for Barclays that I should send my letter to?

Thanks

Lisa

I had 2 accounts with Woolwich (which is now part of Barclays) I had the details for one but not the other, but they searched on postcode, found it and gave me the refund straight into my bank account so I would call them anyway and explain.

Got £110 from Barclays and £25 from Halifax, well pleased :beer:

crysta1010

Hi

I wrote to Alliance & Leicester nearly 3 weeks ago requesting back £145.00 for MEAFs and received a reply saying they are looking into it.

On my letter to them it states I am giving them 14 days for a full response.

What should I do now?

PLEASE ADVISE

jacrock

hi have just received a letter today from Bank of Ireland offering refund of £50we paid £195 but when we took out the mortgage the exit fee was £145 so they are offering the difference back. What i would like to know is do i accept this, i do still think that this is a high amount to charge but i'm unsure what i should do next, has anyone had this problem and is it worth pursuing and how do i go about it?
thanks

biddy4

do you know if you have to pay early repayment charges.we are being charged nearly £8,000 to get out of our mortgage but we are not in a special discount period and it is not in a fixed period.can they charge this sum as i thought it was only if you were in a fixed term you had to pay.

MarkyMarkD

Biddy, you have to pay the penalty for as long as the contract says you have to pay the penalty.

There's no limit on the amount the lender can charge. Quite simply, if you agreed to it in your mortgage contract, you have to pay it.

Regarding what is part of MEAF, deeds handling fees certainly are.

suzib

Hi,
I am currently switching my mortgage from the Bank of Scotland.
Could I claim for a £45 'Release of Security Fee', which has not been mentioned in my original Mortgage offer of almost four years ago? It appears to be in addition to an early redemption charge of £150.
Thanks in advance for any advice!
Suzib

kevint_3

Hello
interesting to read all these posts.
I wonder if you can advise on my mortgage exit fee with Bristol & West? My offer of loan contrcat stated in 2004 that I 'would be charged a reasonable redemption fee upon redmeption of the loan'. Their Guide to Mortagages' leaflet which came with the offer of loan stated that the exit fee was 175. IN the event I was charged 195, and they are offering the difference, ie 175. But, surely it is what was stated in the offer of loan letter that counts...and given that it is sufficiently vague then there is perhaps room to negotiate with B&W?
thanks for any advice you are able to offer.
Kevin

sgb479

In reply to Kevint and others who along with myself have had a mortgage with Bristol&West, I posted earlier in this discussion asking for help and advice about what to me was a baffling reply from Bristol&West.Unfortunately i have had no replies,it maybe is plainly obvious to some,but they seem to be trying to avoid any compensation at all.I have asked for a deadlock letter and will ask the FSA for guidance.
Thanks to MSE though I have had £100 from Halifax and £10 from Coventry

Cookiepops

vegas23 wrote: »

I had 2 accounts with Woolwich (which is now part of Barclays) I had the details for one but not the other, but they searched on postcode, found it and gave me the refund straight into my bank account so I would call them anyway and explain.

Got £110 from Barclays and £25 from Halifax, well pleased :beer:

Thanks Vegas. I called Barclays today and gave them my address and other security details seeing as I didnt know my mortgage account number - only to find I didn't pay any repayment charge! which seems odd as I left them for Abbey but hey ho - at least I tried!

MarkyMarkD

sgb479 wrote: »

In reply to Kevint and others who along with myself have had a mortgage with Bristol&West, I posted earlier in this discussion asking for help and advice about what to me was a baffling reply from Bristol&West.Unfortunately i have had no replies,it maybe is plainly obvious to some,but they seem to be trying to avoid any compensation at all.I have asked for a deadlock letter and will ask the FSA for guidance.
Thanks to MSE though I have had £100 from Halifax and £10 from Coventry

sgb479

Your original post read:

Hi to all,Can anyone help with the reply i got from Bristol&West,posted on Friday.The facts are took out mortgage with Bristol & West June 1997 and was charged exit fee £150 on 11 Sept 2003.They are saying i think that there fee in June 1997 was 87.50 plus there 10 days interest to 11th Sept2003 of £70.80means a total of £158.30 and according to them i have benefited??Here is their reply.....After reviewing our records I note that you were charged a fee of £150 to redeem your mortgage on 11th September 2003.This was a standard fee that was charged to all our customers and which was inline with market practice at the time.Under the terms prevailing at the time of completion of your mortgage in June 1997,you would have been charged £87.50 plus 10 days interest, atotal amount of £158.50.You have therefore benefited from the amendment to our fees over the period of your mortgage`
Any help appreciated and thanks to Martin,result from Coventry and Halifax

I don't see what's baffling about this. They are saying that the MEAF, if calculated on the basis you signed up to in your mortgage contract, would have been higher than the amount you actually paid.

Consequently, complying with the FSA's ruling doesn't involve them having to pay you anything at all.

What's not obvious about that?