NEW Mortgage Exit Fees Discussion

Noz

Julieann wrote: »

Firstly I had a tie in period for ?? years at a fixed rate. After this there was a further time of one year +/- at the standard rate, I paid my mortgage off one month early in this last 12 months and was charged £2500. Can I now challenge this.

No, that was an early repayment fee: http://forums.moneysavingexpert.com/showpost.html?p=5813977&postcount=9

Noz

Feline-Fan wrote: »

Sorry to be thick - but is a mortgage exit fee the same as a Repayment Fee?
Only we changed our mortgage last Sept and Abbey (been with them since Dec '92), charged us this, (£225), so am not sure if I am going to try and claim back the right thng?

MEAFs comes under many different names, but that does sound like the right fee.

Noz

Kay118 wrote: »

Hi there, I've changed my mortgage 3 times in the past 7 years. I was origionaly with GMAC, then Mortgages Plc and now with the Abbey. I don't know how far I can go back to claim and I don't have any paperwork from my origional mortgage with GMAC. Can I do anything about this. If I ring them are they obliged to tell me the truth. Many thanks

Ringing them would be the quickest and most straightforward method

Noz

Feline-Fan wrote: »

Have taken bull by horns and phoned the Abbey - they said they would be sending me out a form in the next 3-5 days, which I then had to send back, they will then look into my old account and see if I'm due any refund! Which could take up to 4 weeks! He couldn't tell me there and then, what we had agreed on our original contract, coz it was an old account, for which he didn't have access - We left the Abbey in Sept '06, having been with them since Dec '92! He said there are 4 teams looking into this type of query!!
Is this the same as others experience? Or have I just been fobbed off?

Can't say there is anything wrong with that, they need time to investigate your claim. If you've heard nothing in 4 weeks, then chase them.

heeelllppp

Can someone help me please, I saw Martin on Tv saying about mortgage exit fees . I had mortgage and changed from an endowment to repayment then few years later sold house (With Nationwide) don't have details of what I was charged anymore so can't fill in online letter. Do any of these count as mort exit fee?

heeelllppp

I am new to this, how do I read any replies please/

Noz

heeelllppp wrote: »

Can someone help me please, I saw Martin on Tv saying about mortgage exit fees . I had mortgage and changed from an endowment to repayment then few years later sold house (With Nationwide) don't have details of what I was charged anymore so can't fill in online letter. Do any of these count as mort exit fee?

Only when the house was sold - although you still might not have been charged a fee.

When checking thisismoney (http://www.thisismoney.co.uk/mortgagefees#n), there wasn't actually a fee charged until May 2005 so it depends when the house was sold.

dunstonh

heeelllppp wrote: »

I am new to this, how do I read any replies please/

You wait to see if someone quotes your post as above.

Its easier to start your own thread but many people tag their questions on to these threads and it gets very messy.

I had mortgage and changed from an endowment to repayment

The fee charged then was valid so you cannot claim that.

then few years later sold house (With Nationwide) don't have details of what I was charged anymore so can't fill in online letter. Do any of these count as mort exit fee?

Redmeption fees didnt start increasing until around 2003. So, if you did it before then, you may as well not bother looking into it.

The only way to know is ask them what it was when you took it out and what it was when you paid the mortgage.

Ilovemoney7

:Tomg that was so easy. I looked up the Woolwich mortgages telephone number on the internet (didnt have any paperwork as changed from the Woolwich in 2003!) I spoke to a polite lady after holding for 10 mins! She asked for my name, property address that was mortgaged, my dob and mortgage account number (luckily I found this on an old bank statement!)

She said yes you were quoted £95 exit fee and we charged you £195! We will refund you £100 plus £9.62 interest. She took my bank details and told me it would be in my account in 5 days. I was so pleased.

I tried phoning Bank of Ireland before this and in fairness I had the paperwork which said they would charge me £195 admin fee (I presume this is the same thing.) When I asked them what was on my contract they said £195. I asked how much I was charged and was told £195 so no joy there! But really pleased with the Woolwich result.

Thanks a lot Martin and team.
:j

Feline-Fan

Noz wrote: »

Can't say there is anything wrong with that, they need time to investigate your claim. If you've heard nothing in 4 weeks, then chase them.

Thanks Noz - just reading thru some of the other posts about different Mortgage Lenders, they got their claim thru alot more easily - just the cost of a phone call!!