NEW Mortgage Exit Fees Discussion

copperjar

Stupid question, but looking at the fees in the article, I seem to have been charged pretty high exit fees from both C&G and Northern Rock - but the contract does state that these fees will be charged and the figures are correct. Am I right in thinking that its only if the contract states something different that you can reclaim?

dunstonh

I seem to have been charged pretty high exit fees from both C&G and Northern Rock - but the contract does state that these fees will be charged and the figures are correct. Am I right in thinking that its only if the contract states something different that you can reclaim?

Correct. It is only where the lender increased the charge from when you borrowed the money (or changed deal). The amount you can claim back is the difference.

This doesnt apply to early repayment charges which are a valid contract event and are defined from the start.

copperjar

Thank you dunstonh

loopholer

Haifax end of Mortgage Statement:
Deeds Dispatch Fee £50
Mortgage Discharge Fee £75
Scottish Registration Fee £20

I searched MSE forums and all my mortgage paperwork for "Scottish Registration Fee", but no mention whatsoever. I figure I should ask for this back, and also ask for £25 of the Mortgage Discharge Fee, as per the Feb 2007 FSA ruling.

Has anyone heard of "Scottish Registration Fee" ?

THE_SN1PER

Afternoon
Could someone please advise me on the following:
I have had a mortgage redeemed with leeds in july 08(now with woolwich). I was going through some paperwork and noticed my fixed rate payment had increased over the 3 year period. I queried this with leeds and they originally said they had charged me an redemption fee £199 which they would refund me. However after various phone calls for this money I was then told ny redemptions that I was owed £approx £1500 (this was a penalty for apparently they had charged me in error as they thought that I had cancelled my fixed rate before the term had ended. Since recieving this money does anyone think that I have a claim for interest of approx £300. I have sent a letted a month ago requesting a response or refund but have yet to have any response. Does anyone know what the next step for me would be, who to speak to? Send another letter?
Any help would be greatly appreciated
Regards

feisty1

Send another letter?
RECORDED

MarkyMarkD

THE_SN1PER wrote: »

Afternoon
Could someone please advise me on the following:
I have had a mortgage redeemed with leeds in july 08(now with woolwich). I was going through some paperwork and noticed my fixed rate payment had increased over the 3 year period. I queried this with leeds and they originally said they had charged me an redemption fee £199 which they would refund me. However after various phone calls for this money I was then told ny redemptions that I was owed £approx £1500 (this was a penalty for apparently they had charged me in error as they thought that I had cancelled my fixed rate before the term had ended. Since recieving this money does anyone think that I have a claim for interest of approx £300. I have sent a letted a month ago requesting a response or refund but have yet to have any response. Does anyone know what the next step for me would be, who to speak to? Send another letter?
Any help would be greatly appreciated
Regards

Can you clarify your question, please?

Why should they owe you £300 of interest? Do you mean because they charged £1,500 to your account in error?

Why did your fixed rate payment change during the term?

Are the two things linked?

£300 certainly isn't the interest due on £1,500 over a short period of time, if that's what you are suggesting.

THE_SN1PER

MarkyMarkD wrote: »

Can you clarify your question, please?

Why should they owe you £300 of interest? Do you mean because they charged £1,500 to your account in error?

Why did your fixed rate payment change during the term?

Are the two things linked?

£300 certainly isn't the interest due on £1,500 over a short period of time, if that's what you are suggesting.

I had 2 mortgages with leeds as I moved house nearly 3 years ago both ending a fixed repayment 1 day after the other. 1 at 60K with 4.8%. 2nd at 50K with 5.5%. But only have 1 set of fees according to both contracts. Leeds BS charged me a penalty (£1500) for leaving early which in fact I never left. The only reason I checked is because my monthly payments increased by approx £5 each year and I thought fixed was fixed.

So 1500 + 8% x 3yrs = £360 interest
Thanks again for your help

MarkyMarkD

Hm, OK that makes sense apart from the 8% bit. They don't owe you 8% on the amount they overcharged you, if your mortgage rates were an average of around 5.2%.

THE_SN1PER

I used the 8% as this is what MSE uses when reclaiming MEAF, even at something like 5% it would still mean interest of £225. What would you recommend though, shall I give them a ring or get it down in writing (possibly recorded delivery?).
thanks again