NEW Mortgage Exit Fees Discussion

Noz

greg001, I think you need to clarify your position slightly. Early Repayment Fees are different from MEAFs - they separate from this issue and are valid fees.

Do you mean MEAFs?

clownfish_3

I have written to Northern Rock about getting a refund of the MEAF have had a reply. Northern Rock say that back in 2003 they had 2 fees, a sealing fee called a Discharge of Mortgage fee and a Despatch of Title DEEDS fee which I would have been charged. They also say that these 2 fees have since been amalgamated and called the Discharge of Mortage fee.
Please can anyone tell me if this is correct or are Northern Rock just trying to keep refunds paid out down????

Thanks

clownfish :j :beer:

MarkyMarkD

NR are not lying to you. Many lenders had a couple of separate fees and merged them when they were required to quote a single figure post Mortgage Regulation.

halphy

Hi enquired with the abbey about my MEAF, finished my mortgage back in 2003, recieved a cheque today for £4!!!!! Apparantely i paid £99 and the fee was £95! Well better then nothing I suppose :rotfl:

dennisd

Can anyone out there help, please?

The Mortgage Exit Fees advice has been very helpful, but can I also claim back the monthly arrears charges that were made on the mortgage? I've seen the template letter for default charges, but that seems to only cover current accounts, not mortgage accounts.

Any advice would be welcome,

Thanks

manhater

Can anyone help?
I have tried to find a thread for my problem but so far have been unable to find one, so please if you can help steer me in the right direction.

I need advise about claiming my mortgage shortfall from my re-possession.

I bought my house in 2002 for £249.000 spend over £20.000 on building etc 3 years later due to stupidity (but thats another story) i had my home re-possessed. Mortgage company sold my house for £300.000 £50.000 short of the actual value, funnily their solicitor suggested i claimed for the shortfall but i have no idea where to start.

Initially they had my house up for £280.000 but i phoned and told them that this was way short of the market value to which they upped to the £300.000 the next day, obviously someone snapped this up immediately.

I am left with a just over £7.000 debt to pay THEM so would be grateful for any advise to clear this whole mess up.

oodles441

I wonder if someone can offer advice. A couple of years ago I was forced through circumstance to change the type of mortgage I had, whilst remaining with the same bank. I was asked to pay an exit fee of around £7,000 which, as you can imagine, I balked at! Unfortunately, my contract (a lesson in not going through it thoroughly before signing!) allowed the bank to charge a percentage of my borrowing. My complaint saw the amount reduced to £6,000 but I still feel this is very high - especially as I remained within the same company. What I'd like to know is, is there any point in trying to recover some of this cost even if it was agreed in a contract? ie - has there been a ruling to say that these fees even if agreed to are way above what they should be? Cheers!

Noz

oodles441 wrote: »

I wonder if someone can offer advice. A couple of years ago I was forced through circumstance to change the type of mortgage I had, whilst remaining with the same bank. I was asked to pay an exit fee of around £7,000 which, as you can imagine, I balked at! Unfortunately, my contract (a lesson in not going through it thoroughly before signing!) allowed the bank to charge a percentage of my borrowing. My complaint saw the amount reduced to £6,000 but I still feel this is very high - especially as I remained within the same company. What I'd like to know is, is there any point in trying to recover some of this cost even if it was agreed in a contract? ie - has there been a ruling to say that these fees even if agreed to are way above what they should be? Cheers!

Oddles, what you are describing sounds more like Early Repayment Fees rather MEAFs which this thread is specific too.

ERCs can not be reclaimed - and if the fee you are describing is indeed an ERC & if you agreed to the fee by signing the contract then you are bound to it.

Noz

dennisd wrote: »

Can anyone out there help, please?

The Mortgage Exit Fees advice has been very helpful, but can I also claim back the monthly arrears charges that were made on the mortgage? I've seen the template letter for default charges, but that seems to only cover current accounts, not mortgage accounts.

Any advice would be welcome,

Thanks

Dennisd, thinking of a few threads I've read in the recent past there doesn't seem to be a clear cut answer to that. Some say you can, some say you can't.

My suggestion would probably be to post in the bank charges forum to see if there is anyone there that can advise on it, as its those folks that would be accustomed to it.

davetmorgan

Can anyone let me have the numbers to enquire about meaf fees for Kensington Mortgages,Platform Mortgages,Capstone Mortgages,and if posible some idea of what to write and ask for as I have no ideas of where to start I do have the ref numbers from some of the mortgages but not all of them