NEW Mortgage Exit Fees Discussion

Hootie19

Are the MEAFs only charged by the "big" mortgage lenders?

We had a mortgage with The Mortgage Business but can't find any paperwork from them. They are not listed in the link I followed from Martin's article about reclaiming, nor in a link I followed on page 1 of this thread (sorry OP, I can't remember who you are).

TMB are under the Halifax umbrella - would they charge the same as Halifax, or are they unreachable in terms of reclaiming?




ETA:
I can answer my own question! Yes, TMB do charge MEAFs! I found a single piece of paper with the details on it in a random file (filing system not great, but in this instance, a blessing!). £75 on its way back to us.

See post #1847 in the success stories thread

Ben1982

Hi,

Just thought I'd ask, I recently switched mortgages from Kent Reliance, where they charged... £150 for the "Redemption Administration Fee", looking at the original fees booklet it was £225.

Is it worth still trying to reclaim that £150 back? or will they just tell me to take a long walk off a short pier? (they might do anyway)

Cheers

Ben

dunstonh

Is it worth still trying to reclaim that £150 back? or will they just tell me to take a long walk off a short pier? (they might do anyway)

On what grounds can you claim the £150 back?

If you read the article you would see that its the difference if it has increased that you can claim back. In your case, it didnt increase so the lender doesnt owe you a penny. Go find that pier

MarkyMarkD

Or send them a cheque for £75 as you've underpaid compared to what you originally agreed.

nicola07

Dear Martin,
I was so grateful for your article on how to reclaim unfair MEAF charges. I took out a mortgage with Bank of Ireland in March 2001 and changed lenders, so switched my mortgage in 2006. After reading your article I checked how much I had paid to exit my mortgage with BOI - £195! So, I got writing....thanks to your template letter and also asked for the interest back.

I've just received a response offering me £50 and no interest back. There reason for this offer is because we 'remortgaged' with them in April'04...and at that time the sealing fee/mortgage release fee was £145. We continued with our 2001 & 2004 mortgages under one account. They've basically offered me the difference in what I paid (£195) and what the fee was in 2004...but I would love to know what the fee was in 2001!!!

I have been asked to sign a contract to agree no further action and then they will send a cheque for £50.

Do you think I should accept this? OR should I write back to say that I feel it should be taken from 2001 when I first took out the mortgage?!

Please help!! I have 8 weeks to reply and then they will regard the complaint as closed!

MarkyMarkD

At the point you switched products in 2004 (or took a further advance) you agreed to the £145. BoI are complying with the FSA ruling. You have no further case to argue.

cinderellarockafeller

even though i've given them (on the standard form they send you to complete) the full mortgaged property address with postcode and the approximate dates of the mortgage being taken out/redeemed. Then they say without my a/c no they can't look into any difference between the fee on the contract and the fee charges, as the a/c no is the only thing that they can search their database on!!! I don't believe them...

I have no paperwork as the mortgage was redeemed in 1999 (after being in existence for 12 years). My conveyancing solicitor's firm (who redeemed the mortgage) no longer exists and I believe the individual solicitor who dealt with it is retired.

Also, is it too late to get a claim in as the redemption occured over 6 years ago?

anyone any ideas?
love cinderella (and I really am that poor!) xxx
PS good luck to all of you!

[Deleted User]

cinderellarockafeller wrote: »

I have no paperwork as the mortgage was redeemed in 1999 (after being in existence for 12 years).
Also, is it too late to get a claim in as the redemption occured over 6 years ago?
anyone any ideas?
love cinderella (and I really am that poor!) xxx
PS good luck to all of you!

Do you have any bank statements from this period? They may show your mortgage account number against the mortgage payment.

As for whether it's too late to claim, I managed to get Alliance & Leicester to pay out on a mortgage redeemed in 1999 after running for 9 years. I understand that some other lenders won't pay out this far back.
Regards,
C.R.

MarkyMarkD

Abbey aren't obliged to keep any records for a mortgage redeemed over 6 years ago - as applies to any other lender - so if they aren't playing ball, you can't make them.

mainbro

debbie100 wrote: »

Hi there,i had a mortgage with a company called i-group,who have now been taken over by ge money,i switched my mortgage over 2 years ago but arnt sure if i paid an exit fee,tried calling but office closed,has anyone else been with igroup and would know if they did charge fees. Many thanks.

Hi Debie, I phoned igroup/G E Money today (3/9/07) and quoted old mortgage Loan Number and asked for refund of Exit Fee, Within 5 minutes I was advised that they would refund £25 to me, within 10 working days.

Like you, I had no details of Exit Fee etc. Apart from the Mortgage Loan number.

Hope you are successful.

Regards

Colin S (mainbro)