NEW Mortgage Exit Fees Discussion

badboybinks

we got into trouble a few years ago as I had to give up work and remotgaged our house with The Mortgage Group
. I remember when we then changed back to Mainstream lending we were charged rather a lot over £1000:money: but we had come to the end of our term with them and they were pressureing us to take out another mortgage with them saying we would never get a mortgage with a main lender, but we did. I have written to them asking for details of charges but have had no response. Will this company have to abide by the recent changes and have to refund unfair charges?

manhater

I changed mortgage companies from Abbey to Platform but cant find the paperwork to see what i was charged, how can i find out if i am entitled to anything?

MarkyMarkD

By writing and asking, manhater. You don't need to know what the amounts are.

MarkyMarkD

badboybinks wrote: »

we got into trouble a few years ago as I had to give up work and remotgaged our house with The Mortgage Group
. I remember when we then changed back to Mainstream lending we were charged rather a lot over £1000:money: but we had come to the end of our term with them and they were pressureing us to take out another mortgage with them saying we would never get a mortgage with a main lender, but we did. I have written to them asking for details of charges but have had no response. Will this company have to abide by the recent changes and have to refund unfair charges?

No, because £1,000 won't be an MEAF but an ERC which they will have been contractually entitled to charge.

tanyaw_2

MSE_Martin wrote: »

This discussion relates to Martin's updated

Mortgage Fees Article
(see old discussion thread here)

To discuss or ask a question about the article: click reply

To report your experiences go to the Mortgage Exit Fees successes and failures thread


Extra Note - We have had lots of comments about what is and isn't included as a MEAF. The article has been updated to include the following text:

What a MEAF isn't.... don't get it confused

This is a strict ruling and only applies to exit fees. Application fees and others that are paid when originally getting the mortgage aren't included.

Also while MEAFs sound similar to ‘early repayment fees', commonly known as 'redemption penalties' again they're not the same thing. Early repayment fees are charged if you repay or switch mortgage during a special deal, such as a fixed or discount rate (see the Mortgage Guide / Remortgage Guide for details) whereas exit fees apply at all times.

For full details, see the Mortgage Fees Reclaiming article.

hi i'm so confused with the reclaiming mortgage fees, i have just had my five year fixed rate mortgage finished with the woolwich and we have taken out a new 10 year fixed rate mortgage with them but they charged us £595 application fee and a £100 rate swicth fee, can any one tell me can i claim any of this money back? many thanks tanya.

hot-ice

Yesterday i ended my mortgage with the principality as my tie-in period had ended, i originally had three accounts with them but managed to end one account early by overpaying so i had two accounts left , i have been charged an exit fee for each account a total of £260 a bit naughty me thinks, when i paid the third account off at the end of last year there were no charges! anyway is it fair that i should be charged for each account and is £130 exit fee too much to pay anyway

swayzak

hi

The table in this forum says £50.

C&G have just quoted me £90.

Does anyone know the true exit fee for C&G at that time ?


thanks


swayzak

Luton1_2

Having received an email from this site regarding mortgage exit fees, I immediately phoned the Woolwich and a very polite lady answered the phone and within 5 days I was credited with £158.00.

So big thank you to Martin. I hope his tip offs keep coming

Oh! and I told family and friends who are in process of reclaiming.

Susie_B_3

Susie_B wrote: »

I mortgaged my house with Platform Funding in November 2004, I am self-employed and took out buy to let as was letting my house out for a while. I remortgaged in November 2006 after the two year deal, gave 1 months written notice so as not to incur a high early repayment charge. I queried the following charges with the lenders solicitor as I felt then that this was wrong:-
deeds release charge (£50) and early redemption fee(£135) ( when I took out the contract the charges were stated as £25 and £100). I spoke to someone at Platform and was curtly told that the figures have increased and they were the figures I would be charged.
On the final settlement statement the early redemption fee is called the mortgage discharge fee.
Can I claim for £25 from deeds release and £35 from Mortgage discharge fee (there is no figure under this title on original fees schedule)?

Would be greatful of advice.

Just spoke to lady at Platform. Agreed to pay £35 Mortgage discharge fee. The deeds release fee is not included in MEAFS. Are they correct on this one?

petal612

MSE_Martin wrote: »

This discussion relates to Martin's updated

Mortgage Fees Article
(see old discussion thread here)

To discuss or ask a question about the article: click reply

To report your experiences go to the Mortgage Exit Fees successes and failures thread


Extra Note - We have had lots of comments about what is and isn't included as a MEAF. The article has been updated to include the following text:

What a MEAF isn't.... don't get it confused

This is a strict ruling and only applies to exit fees. Application fees and others that are paid when originally getting the mortgage aren't included.

Also while MEAFs sound similar to ‘early repayment fees', commonly known as 'redemption penalties' again they're not the same thing. Early repayment fees are charged if you repay or switch mortgage during a special deal, such as a fixed or discount rate (see the Mortgage Guide / Remortgage Guide for details) whereas exit fees apply at all times.

For full details, see the Mortgage Fees Reclaiming article.

I am about to remortgage with Nationwide. Got mortgage with Abbey in 2004they want £225 to leave can I claim from them now or do I have to wait till I leave.