NEW Mortgage Exit Fees Discussion

sueevans8

Re: Mortgage exit fees. Having seen on this site that I should telephone Halifax for a form, I did so. They tried to insist that I go into the local branch to pick up a form. I persisted with them over the phone and they took the details of my claim. I paid a fee of £75 in August 1991 and paid my mortgage off in 2003. They are going to refund me £35, as I should have paid only £45.

Johnkg

Halifax fee in 1996 was £40, was charged £115 in Nov 2005 to xfer to RBS. They've just agreed to send me £75!

One quick phone call and all sorted. Very helpful chap too...

Thanks Martin

Alysie

Hi there

I have just called Abbet and they are sending me a form to reclaim, so sounds easy - I'll update you!

I have another question. I missed a mortgage payment and was charged £35 and then a further £10 for a 'consultant' to call me and discuss the arrears. I made the payment up the following month and wonder if I can reclaim the charge as I have with my bank charges.
Has anyone else been charged for missing a mortgage payment? and is £35 the average cost?
Thanks
Allie

MarkyMarkD

itsnotfair wrote:

As I understand it son in law and dad on mortgage, dad as guarantor. The dad died 1 year prior to wedding, son in law just carried on paying as always not knowing he had a problem with mortgage (only 20, knew nothing about finance). After wedding they had to have the original mortgage stopped and start as if applying for new mortgage and everything. My daughter queried it at the time but they said they payments were compulsory.

OK, thanks for the extra info. So, assuming that they held the property as joint tenants, the property will be 100% owned by the son in law now. The mortgage will also be in single names (effectively) because one of the parties has died.

Accordingly, I can't see what C&G are up to. All that's happening is that someone who is getting married is adding their new wife to their mortgage. That's completely normal, and shouldn't need very much hassle (or cost) at all. Certainly no penalties for redemption UNLESS they chose to change product. Certainly no MEAF because they are not redeeming.

MarkyMarkD

musicman100 wrote:

HI,

Success just phone up Standard Life and said they would send the full amount over to me.

just one quick question

Can you claim the deeds handling fee back- or is that different.

Also any one had experience with Legal and General Bank or IF??

It would be useful if someone could compile a list of the different banks.

thank-you.

Nigel

Also I keep checking the FSA site but there is no update there. What is their view on whether we should get interest or not??

Thanks-you

There's a list in Martin's original article. There's also a list here: http://www.thisismoney.co.uk/mortgages/article.html?in_article_id=417037&in_page_id=8

The FSA have NOT required interest to be paid, and that's why most lenders are not doing so. They aren't likely to suddenly change their mind on this.

MarkyMarkD

rach2403 wrote:

Hi,

I have read through all the stuff about this and am wondering if the following situation counts.

We have a mortgage with Northern Rock which we have had since July 2003. In November 2006 we decided to take out some more money on our mortgage but when I asked about secured loans was instead told to have a 'Mortgage Review' which basically gave us a completely new mortgage with the extra amount included. For the privilege of this I was charged £250. When reading through the documents I have sent they say this was the charge for closing down the old mortgage.

My question basically is does this count as something I could ask to be reduced or refunded? Surely it didn't cost them £250!
Sorry it's so long winded and thank you so much for your help!!!

Rachel x

MSE_Martin_(slightly_amended) wrote:

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 (or switching product)aren't included.

In other words, NO. I think NR have a tendency to mis-describe their "product review fee" as a fee for "closing down the old mortgage". It's not. It's an additional charge for switching to a new product.

dun

i recently renewed my mortgage with the same lender and was charged £700 for an arrangement fee. Is this legal and justifiable and would i have grounds for a claim.

thanks

bobnginge

I just phoned Halifax (08451 203033 for the dedicated line), gave them my mortgage roll number, a very nice lady looked it up, checked a few security details and she's going to send me £100. Couldn't have been easier. Go for it!

jgriffin88

Hi.
Thanks to your help I have now sent a letter to claim back charges.
However I find it hard to believe that people don't keep old documents!
Surely any previous mortgage docs should be saved for as long as possible.

jan_t_3

Hi
I was charged £225 by Abbey when we paid off our mortgage - it was listed as a repayment fee under the early repayment charges column. We were not locked into any special deals/rates so can I claim this back?? I have had a trawl thro the paper work on this mortgage (set up in 2001) and cannot find anything that mentions this kind of fee (I have a sheet listing all their costs except this one) any ideas? letter or phone call do you think.

cheers Jan