NEW Mortgage Exit Fees Discussion

bekki0405_2

I claimed £50 MEAF back from a previous mortgage provider, who agreed I had overpaid. I sent it in in writing as requested, but 6 months later, I am still waiting for a cheque. I have written twice, called numerous times. I have been promised a cheque is 'in the post', on many occassions, and one lady even offered to BACs transfer it once. Still here I am without my money.
I have lost my patience now, and would like to take it to the next step.
What I would like to know is do I complain to the FSA, or do I go to the small claims court?
Also, if someone knows the answer to this, maybe they would know if I can claim back the interest. I know you can't ask for this when the company agree to pay you, and do this straight away. But with small claims you can claim, I think it's 8% interest.
Finally, I have seen a couple of messages here about Kensington. I had a mortgage with them, and also wrote to check whether I had overpaid. I couldn't find any paperwork for them, and they wrote back saying they didn't owe me anything. I accepted this, but now I'm wondering if this is because they are subscribing to the line that the 'feel' the charges were justified, as someone mentioned earlier, that they had been told this.
Should I pursue this and ask to see the figures, i.e fee quoted/fee paid?

MarkyMarkD

Baz

They will charge you the correct £99 fee when you redeem. There's no benefit at all in writing to them now.

Bekki

I don't understand why your lender are messing you about over the £50 when they have agreed it's due. Write to them stating that you will forward your complaint to the Financial Ombudsman Service if they don't respond, with the money due, within 7 working days. And then refer it.

My general attitude is that banks are unlikely to lie to you about whether a payment is due or not. When did you redeem? If it is ages ago, then the chances you have been materially over-charged is small.

wee_barra

We are moving house and as such we will be taking out a new mortgage while paying off the existing mortgage.
I see from my mortgage statement that I will be required to pay a redemption admin charge of £295. This seems excessive. Is there any way I can reduce this?
Any advise would be appreciated.
Wee Barra.

Noz

wee_barra wrote: »

We are moving house and as such we will be taking out a new mortgage while paying off the existing mortgage.
I see from my mortgage statement that I will be required to pay a redemption admin charge of £295. This seems excessive. Is there any way I can reduce this?
Any advise would be appreciated.
Wee Barra.

If that is the fee you agreed to in your mortgage documentation then the fee is valid.

Mean_Gary

Interesting story there Baz re Thisismoney, I am currently re-mortgaging away from Abbey. I took out the mortgage in November 2006 and they detailed a "Repayment Fee" of £225 back then, and that is what I will have to pay now so the fee itself hasnt increased and it is the only fee I will pay. I understand I can complain that the fee is excessive and get it reduced but should I do this now or wait until the re-mortgage has completed? Thanks in advance.

_Andy_

Mean_Gary wrote: »

Interesting story there Baz re Thisismoney, I am currently re-mortgaging away from Abbey. I took out the mortgage in November 2006 and they detailed a "Repayment Fee" of £225 back then, and that is what I will have to pay now so the fee itself hasnt increased and it is the only fee I will pay. I understand I can complain that the fee is excessive and get it reduced but should I do this now or wait until the re-mortgage has completed? Thanks in advance.

If you felt £225 was excessive why did you agree to this when you took the mortgage out?

sdunn1801

Is anyone else is same situation? Northern Rock can't renew existing mortgages and so as an existing borrower I am forced to find a new lender.
Northern Rock are still gonna charge me the £250 exit fee - that can't be right?
Steve

_Andy_

sdunn1801 wrote: »

Is anyone else is same situation? Northern Rock can't renew existing mortgages and so as an existing borrower I am forced to find a new lender.
Northern Rock are still gonna charge me the £250 exit fee - that can't be right?
Steve

You are not 'forced' to find a new lender. You will go on the the SVR which is exactly what was stated in the KFI and mortgage offer.
Northern Rock (or any lender) does not have any obligation to offer you a new deal.

If £250 is the exit fee you agreed to then yes it is 'right'.

olddad_2

Will there be a problem reclaiming now that the banks are changing ownership????????

Trifled

Hi

Newbie. Apologies if this has already been stated, but there are 63 pages on this ....

I phoned Abbey today and was told something to the effect of "whatever you paid would've been what you had signed up for".???!! I explained that that was not the case, hence everyone now reclaiming what they had overpaid. When I asked for a form to be sent to enable me to reclaim, she suddenly seemed to know what I was talking about.

So far, I have claimed redemption fees from Abbey to the tune of £126, £175, and soon, just to prove a point, £14.