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NEW Mortgage Exit Fees Discussion

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  • Noz
    Noz Posts: 3,869 Forumite
    Part of the Furniture Combo Breaker
    Dibdob wrote: »
    Hello!
    We changed our mortgage a few days ago....re-mortgaged to a better fixed rate, after being tied in for 3 years with the dreaded interest only Kensington Mortgages. Our tie in expired, but we were charged £130 odd quid as a redemption fee? Is this the fee we can attempt to claim back as not sure? Any advice would be great thanks!
    Yes this is the fee applicable, though please be fully informed, its not the entire fee you should expect to reclaim
  • dunstonh
    dunstonh Posts: 119,781 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Hi martin phoned the DERBYSHIRE BANK today to see if i was eligable for any money back. after giving them my old account number and them verifying who i was they then said that i wasnt eligable because i left them 7 years ago and they only repay back as far as 6 years after hearing this i proceeded to ask them how much i paid in fees in 2000 and they said they couldnt tell me for there records only went back 6 years but they still had my old account records. Does it mean im not entitteled to anything or are they just palming me off.:confused:

    Fees only started increasing beyond reasonable from 2003. So, anything prior to that date is likely to be considered reasonable.
    Our tie in expired, but we were charged £130 odd quid as a redemption fee? Is this the fee we can attempt to claim back as not sure? Any advice would be great thanks!

    £130 is a reasonable fee and if it is the same as what is said on the contract letter at the start, then there is no difference to claim.

    YOU CANNOT CLAIM THE WHOLE FEE BACK. It is the difference which you can attempt to claim back if the increase is considered unreasonable.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • i have had 3 different mortgage accounts and can only find 1 account number for 1,they are northern bank, and alliance and leicester the mortgages were within a 6 year period but i dont have any of the paperwork and looked at table of different mortgage providers but northern bank wasnt there probably because its a northern ireland bank was going to use template letter but dont have enough information can i get this by ringing them and what do i ask them
  • could i ask the question,we have just sold our house on the 6th of july it was completed and we bought the house 4 years ago for 130,000 remortgaged couple of years down the line taking it up to 170,000.and to pay back kensinghton it has cost us 183,413.80.Altogether it has cost us nearly 1400.00 thoasand pounds in redemption fees,could we claim any of that money back. regards pammichelle
  • Noz
    Noz Posts: 3,869 Forumite
    Part of the Furniture Combo Breaker
    could i ask the question,we have just sold our house on the 6th of july it was completed and we bought the house 4 years ago for 130,000 remortgaged couple of years down the line taking it up to 170,000.and to pay back kensinghton it has cost us 183,413.80.Altogether it has cost us nearly 1400.00 thoasand pounds in redemption fees,could we claim any of that money back. regards pammichelle
    Only the MEAF.
  • With regards to the above does anyone know if Arrangment Fees and Higher Lending charges are included in the Exit Fees??
  • Noz
    Noz Posts: 3,869 Forumite
    Part of the Furniture Combo Breaker
    With regards to the above does anyone know if Arrangment Fees and Higher Lending charges are included in the Exit Fees??
    Neither, read Martin's article http://www.moneysavingexpert.com/reclaim/mortgage-fees
  • elsbels_3
    elsbels_3 Posts: 26 Forumite
    I have just rung C&G to ask for a refund of £225. They have told me that although I have had a mortgage with them since 1991, I have switched to different products, the last in 2005 and so I have signed contracts along the way and have therefore agreed to pay £225 instead of the £50 on my original terms and conditions. Is there anything I can do to get a refund?
  • dunstonh
    dunstonh Posts: 119,781 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    elsbels wrote: »
    I have just rung C&G to ask for a refund of £225. They have told me that although I have had a mortgage with them since 1991, I have switched to different products, the last in 2005 and so I have signed contracts along the way and have therefore agreed to pay £225 instead of the £50 on my original terms and conditions. Is there anything I can do to get a refund?

    They are correct. Its the value that is different from the contract amount and in your case there is no difference.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • I have been with c+g since1997 on endowment mortgage then in 2002 swapped to a repayment mortgage,also borrowed another £6000 2 years later will i be able to claim anything back?

    Thanks
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