NEW Mortgage Exit Fees Discussion

foolsgold99

Hi, just to let people know. My mortgage started with the Halifax in Dec 2004. I remortgaged to the Nationwide in Feb 2007 and the Halifax charged me £175 exit fee.
I just phoned them on 08451 203033 and they said that my mortgage exit fee when I took out my mortgage in Dec 2004 was £115 and they would send a check for £60.
I told the guy on the phone that some people were getting varying amounts and he said it's because the fee varied from month to month i.e. the fee in March 2004 was £75 but in Dec 2004 it was £115. I didn't have the original statement to check if £115 was correct so I just accepted the £60. I hope that this was the right thing to do and that helps some people.

foolsgold99

I just found this link: http:

//www.thisismoney.co.uk/mortgages/article.html?in_article_id=417037&in_page_id=8#y

It gives you a list of Mortgage providers and the relevant dates and exit fee charges. Worth having a look before going on the phone.

Hope it Helps

gesso

I conacted Barclays today by phone on the number listed here only to be told that we had never been charged an exit fee

Not that I dont trust Barclays or anything but is this a new dodging tactic?

or has anyone else eperienced the same?

cant talk to my new mortage provider at the mo so cant find out if this is the case.

DorothyA

We have paid our mortgage off with Nationwide except just £1, this allows us to obtain another loan without all the paperwork, so they said. But also we have not paid the exit fee of £90. Does anybody know whether we would still now have to pay this sum (£89).

JulieBarlow

Can anyone tell me if we would be able to reclaim anything, we have changed mortgage 2 or 3 times in the past 7 years but have always stayed with Chelsea Building Society. We have always waited until after the early repayment period ends so that we don't get hit with that fine but we have always been charged an admin fee for changing the mortgage product. All the articles I have read on re-claiming fees have related to either paying off the mortgage in full or moving companies so I am wondering if we have a case if we stayed with the same company but changed mortgage with them? The latest change was in January this year and the fees charged were a whopping £640!!! To stay with the same company and just change the product we have with them this seems a rather extortionate amount of money! Do you think I should write to them and complain or do I not have a case?

Former_MSE_Wendy

There have been lots of good questions posted, so though i'd try and answer a few to give everyone an idea of what they can do to get their refunds.

Funny about munny – yes the mortgage repayment administration fee from the Halifax and the repayment fee from the Abbey both count. The refund you will get will depend on when you started your contract, just phone them up to find out. The same goes for any lenders you don’t have the details for, phone them up in the first instance to see that they can tell you. If they can't help you can then look for the info elsewhere, but they may be able to tell you all you need to know. Well done for the successful claim of unfair charges, hopefully this will get you a bit of extra cash too

Borolee – If you think the fee you were charged is too high, your case would be harder but you could try the militant approach mentioned in the mortgage exit fees article. Alternatively, lenders may reduce their fees in the next few months and you could ask to be charged this reduced fee, if and when your lender decides to do this.

Gesso – if you have been told you're not entitled to a refund check to see if the fee changed in price over your contract term, this would depend on when your contract started and finished.

DorothyA – leaving a little bit left on your mortgage is fine as long as your lender allows an account to remain open at this amount. If they do you shouldn't have to pay the exit fee.

JulieBarlow - the admin fee for changing mortgages sounds like an arrangement fee rather than an exit fee, if in doubt you could ring and ask.

Regards, Wendy

Retro23

Hi we bought our house in 1996 and took out a mortgage with TSB which then became a C&G mortgage. About two years ago we moved our mortgage to egg and was charged a MEAF, we have none of the original mortgage paper work left and nothing to show what we were charged at the time, my question is will C&G have all the details needed even from before it became C&G?

Steve

gesso

MSE_Wendy wrote:

There have been lots of good questions posted, so though i'd try and answer a few.



Gesso – this would depend on when your contract started and finished.


Regards, Wendy

hi Wendy the times are mortgage opened 04/2000 barclays
then 21/02/2003 added £5k onto mortgage which generated paperwork with title 'mortgage offer' (new mortgage)?
admin fee of £150

switched to halifax 7/06/2006

Beate

If a mortgage was taken out in 1991 as an endowment mortgage, changed in 1996 to a repayment mortgage and changed in 2004 to an interest-only mortgage, then paid off in 2006, could you still claim the difference between 2006 and 1991, or would they say it was a different product and the only difference they can pay out is between 2004 and 2006?

Mish_Mash

Hi

Just wanted to say thanks for all the advice. Have phoned Woolwich and they have agreed to refund me £100 plus £11.68 interest. No argument, no hassle, I was really surprised (and happy).

Thanks.