NEW Mortgage Exit Fees Discussion

Noz

katsb1971 wrote: »

I have a question, perhaps? Regarding mortgage exit fees. I don't know if the same applies to a secured loan on your property as that is a second mortgage? I look forward to your feedback. Oh, also I was very successful and reclaimed all £5,000 of my bank charges from a very helpful person at HBOS. Many thanks.:rotfl: :rotfl: :rotfl: :rotfl:

As far as I'm aware secured loans are not covered by the FSA findings.

Noz

smreynard wrote: »

No, on his mortgage offer it said £85 but they charged him £250. They are saying that because it says on the offer that the amound can vary that he can't have a refund. I haven't been able to find anyone else on here that has got one from BOS and they don't appear in Martin's tables.

Quite right, I didn't read correctly.

All I can suggest is to exhaust BOS' complaint procedure and if still required, allow the complaint to be referred to the ombudsman.

caz2701

Hi
I changed my mortgage with Skipton from an endowment to a repayment last year. My question is I was charged a £50 conversion fee and a £25 change of term fee, also I noticed on my statements I was also charged £399 for a completion fee! Does anyone know what I can claim here?
Many thanks in advance.
Caz

PS Martin is the God of Finance!!

MothballsWallet

Noz wrote: »

Hi MothballsWallet, there could be something due - it depends when you started the Halifax mortgage. Do you remember when that was?

Check here for details: http://www.thisismoney.co.uk/mortgagefees

Edit: Reading my link, you might have a slightly early mortgage for a refund to be due.

Hi Noz,
I won't easily forget when I took the Halifax mortgage out: it was 2001 - I bought the 'ouse and got married in the same year. I take it there's nothing to lose by asking them as you never know with the Halifax?

Edit: Actually, I remembered that I switched mortgage in late 2004, around Xmas time...

Noz

MothballsWallet wrote: »

Hi Noz,
I won't easily forget when I took the Halifax mortgage out: it was 2001 - I bought the 'ouse and got married in the same year. I take it there's nothing to lose by asking them as you never know with the Halifax?

Edit: Actually, I remembered that I switched mortgage in late 2004, around Xmas time...

In fairness to Halifax, they seem to be setup well to deal with queries. Most comments I've seen talk about a 3-5 minute converstion so 'nothing to lose' sums it up nicely I think.

dbk85

Can anyone help. It might sound like a stupid question but I am unsure whether I can claim back my charges.

I have a letter from northern rock saying my discharge of mortgage fee was £250 and that is the amount I have been charged when I closed my mortgage account.

Can I claim back anything, I mean, is the £250 fee discharge of mortgage fee unfair (like bank charges at £30 or £35 which probably cost a couple of quid at most to process) or are you just entitled to claim if they have charged you incorrectly.

Please can someone confirm the situation at the moment.

Cheers

Dave

dunstonh

The fee itself is not unfair. What is under review is the amount the fee has increased over the years. If the increase is classed as unreasonable then you can attemtp to claim back the difference. If the fee was £250 when the mortgage started and the fee is £250 when you redeemed it then you have no grounds to claim anything. If it was £100 when it started, you can claim the difference. If it was £225 5 years ago and £250 now, then that could be considered a reasonable increase and would likely to result in rejection.

bronzewing

Hi
Got stuck in between some heavy discussion with my previous post and ignored! So, if no-one minds I'm re-posting...
Hi, bit of clarification required please:
Left the Halifax in June 1998, took up with A&L in July 1998. Signed into a 40k fixed rate (2 years) + further 3 year tie-in deal for 15 years. Paid off mortgage in Nov 2004.
Original "Redemption and sealing of deeds" rate stated by A&L (1998) £60.
Charged "Early closure admin charge" £295 in Nov 2004.
What is the definition of Early closure or Early redemption, as some earlier posts have repaid in less time yet still been successful in claiming a refund?

gwdhld

Hi,

Can i ask everyone if you need copies of original statements and account numbers to claim these back. I have moved home twice in the last 5 years and i am sure that i was charged a fee both times.

Thanks for your help

MarkyMarkD

Assuming you stayed on your original (2 years fixed and 3 years extended tie) product, then you will get refunded back to £60.