NEW Mortgage Exit Fees Discussion

MarkyMarkD

@Clareski: March 2005 Abbey charge - probably the right amount but depends when you started your Abbey mortgage. Might have been overcharged a few £ - phone them and ask.

March 2005 A&L charges - all legit and non-refundable.

March 2007 A&L charges - all legit and non-refundable. And because you've switched products with A&L you are now definitely liable for a £295 A&L MEAF when you eventually redeem. (Although, in fact, you would have been anyway because the increase to £295 occurred before March 2005).

@Kashie: No, kashie, that was an Early Repayment Charge (ERC). They don't owe you anything on that one.

Adel

I do not recommend Kensington Mortgage company to anyone. When I first took out my mortgage with them they delayed my purchase by sending out about 5 wrong mortgage offers. This meant I was paying more rent where I lived at the time. On that occasion Kensington Mortgage Company completely ignored my letter of complaint and when they did they offered me nothing.

Finanlly Kensington Mortgage Company have increased my MEAF Mortgage redemption exit figure from £100 to £145 in the space of 4 years. They believe a £45 increase is fair in 4 years to cover staffing, annual salary increases, recruitment selection, third party administrators, increased monitoring and recovery of overheads.

I fail to see how Kensington Mortgage company can justify charging me an increase of nearly 50% for the above items when none of this actually relates to my mortgage being redeemed.

Can anyone tell me whether they have had any poor dealings with Kensington Mortgage company or a Mortgage company who they are having similar problems with?

My advice from personal experience is not to get a Mortgage with Kensington Mortgage company!

Adel

Kensington Mortgage company have refused to refund me the £45 extra MEAF they have charged me. Should I refer straight to the Financial Ombudsman now?

stan77

I ported my mortgage with Northern Rock in July this year and was charged an exit fee of £250.

When I checked my mortgage offer it does state that they would charge £250 but given that they now seem to have slashed the charge completely (according to table of past and current MEAF charges on this site), it doesn't seem right that I should have been charged this extortionate amount just because it's in the contract.

Does anyone know if I can claim any of it back under these circumstances.

Thanks

dunstonh

it doesn't seem right that I should have been charged this extortionate amount just because it's in the contract.

You are joking here arent you?

How can it be unfair if it was in the contract and you knew about it before you signed the contract?

Does anyone know if I can claim any of it back under these circumstances.

You are not entitled to anything.

mrackliff

hi,
Can i claim back the second chage fees we paid when we went from abbey to halifax?
Can we claim back the charges we paid with the halifax when we changed product but stayed with them?
Thanks
Marianne

dunstonh

Can we claim back the charges we paid with the halifax when we changed product but stayed with them?

No.

These are retail product charges. You chose to buy a new product from Halifax and they were the costs of that product.

If you buy a TV, you dont expect Currys to give you a replacement free of charge every 2-5 years. Same applies with mortgages. You either keep what you have with no new charges or you buy a new one.

mrackliff

thanks, that makes sense to me now!
Marianne

JJJude

Hi all, can anyone please tell me if I can claim a refund from my Halifax charges? I checked out my original mortgage contract and it didn't mention any fees to be paid upon redemption. Now I'm remortgaging to HSBC the Halifax are charging an exit admin fee and a deeds release fee. Can they do this or do I have a right for a claim? I'd be really grateful for your response.

Battered_Sausage

Read one article on getting £225 back from Abbey. It sounds u had similar dates to me. I took out a 2 year variable tracker in Sept 2003 and then switched it in Sept 2005 when I was obviously charged £225. I have not bothered pursuing yet as the 'charges brochure' which came with the mortgage states this fee (although this could have come by post during the mortgage?). Did you get the money because it was not actually stated on the mortgage contract itself?