NEW Mortgage Exit Fees Discussion

jaxs

My mortage with the C&G started in 2000 and in 2005 we changed it, still staying with C&G and then moved to the Chelsea in Aprill this year. I rang C&G up last week and they told me I wasn't due anything because when we changed product in '05, we would have been quoted the higher fee. I wasn't convinced and dug out the paperwork from 2005 and it clearly says Closing Fee of £180 and I was charged £225 in April.

I've just spoken to them again and because it still says on their computers that I'm not entitled to anything but I've got written proof, a very helpful lady has put a complaint through for me. Seems like it might take a while to get a repsonse - 5 days before they confirm receipt of the complaint, then could take up to 4 weeks to be resolved, but its worth the wait!

If its possible, dig out old paperwork if you've still got it and check yourself instead of relying on what the banks/bs tell you - they MAY be wrong! ;-)

numbercruncher

Was just wondering if anyone has had any success with reclaiming exit fees from Preferred Mortgages - I imagine they are pretty hard to deal with! But I would be interested in hearing from anyone who has had success with them and what they had to go through to get their money back.

kelly14_2

i was with preferred morgages, i paid £175 for meafs in february.
i sent them the template letter & received a letter back to say i was not getting any money back!!!
does anyone know what i can to next to reclaim my money?

Noz

kelly14 wrote: »

i was with preferred morgages, i paid £175 for meafs in february.
i sent them the template letter & received a letter back to say i was not getting any money back!!!
does anyone know what i can to next to reclaim my money?

How much are you due back?

kelly14_2

numbercruncher wrote: »

Was just wondering if anyone has had any success with reclaiming exit fees from Preferred Mortgages - I imagine they are pretty hard to deal with! But I would be interested in hearing from anyone who has had success with them and what they had to go through to get their money back.

i hav tried to reclaim my money & was told no!! they said the fee they charged was correct,please let me know if you have better luck.

kelly14_2

Noz wrote: »

How much are you due back?

well i was hoping for about £120 back! but they said no the fee they charged was correct!!!!!
have you had any luck?

Noz

kelly14 wrote: »

well i was hoping for about £120 back! but they said no the fee they charged was correct!!!!!
have you had any luck?

Well if they have charged you the correct MEAF then they are quite correct. Have you double checked your mortgage documentation to make sure.

Pandora123_2

We have a mortgage with Mortgage Trust (formerly Britannic Money) and the original contract (2001) states an Early Redemption Penalty of £75 for a Sealing Fee, with no mention of any other fees. When I wrote to enquire about their current charges for exiting the mortgage, they quoted a £150 Sealing Fee and an additional £88.13 Deads Release Fee. :eek:

We want to switch out of the mortgage, and are wondering if anyone has asked for the quotation of mortgage fees to be reduced BEFORE they exit, rather than paying the fee then asking for reimbursement. I have modified Martin's letter to reflect this, but am wondering if anyone has had success doing it this way.

Seems daft to pay the fee, then immediately turn around and ask for reimbursement of the excess.

:A

EDIT: Just realised that the "Early Redemption Fee" is not the one I should be looking for, but I can't find any mention of any other fees in any of the documents I have. Anyone know what the fees were for Britannic Money in 2001?

Noz

Pandora123 wrote: »

We have a mortgage with Mortgage Trust (formerly Britannic Money) and the original contract (2001) states an Early Redemption Penalty of £75 for a Sealing Fee, with no mention of any other fees. When I wrote to enquire about their current charges for exiting the mortgage, they quoted a £150 Sealing Fee and an additional £88.13 Deads Release Fee. :eek:

We want to switch out of the mortgage, and are wondering if anyone has asked for the quotation of mortgage fees to be reduced BEFORE they exit, rather than paying the fee then asking for reimbursement. I have modified Martin's letter to reflect this, but am wondering if anyone has had success doing it this way.

Seems daft to pay the fee, then immediately turn around and ask for reimbursement of the excess.

:A

It'll just come down to what way Mortgage Trust are approaching the situation, some lenders have corrected the MEAFs already. If you are moving lenders then I wouldn't allow the situation to cause any delay. I would ring them and query the MEAF.
Worst case scenairo is that you reclaim the money afterwards instead...

skintgirl_4

hi...sorry if this question has aleady been asked...just came across website today, fab it is too! and running out to work..so havent had chance to read all pages but i dont want to miss out.....we have had 4 mortages since 1991 and just about to switch again.......is there a time limit to claiming....ie can we check our first mortage from 1991 and is there any cut off date for claiming

thanks