NEW Mortgage Exit Fees Discussion

Nicky321

Just been looking through paperwork and I originally took out a mortgage with C & G in September 2002, in June 2004 we stayed with C&G but rejiggled the mortgage around and think we paid an MEAF, In September 2006 we again rejiggled the mortgage around again staying with C&G and it shows up on the December 06 statement that we paid an MEAF of £225.
I know I have paid on MEAF of £225 (december 06) and maybe another MEAF (june 04) can someone tell me the best way to word this in the hope of reclaiming any overpayment of MEAFs?

Cheers

Nicky321

Mr & Mrs ***
Our Address

10th March 2007


Cheltenham & Gloucester
Chief Office
Barnett Way
Gloucester


Dear Sir or Madam,

Re. Account /current mortgage number: 5000**********

After the recent FSA statement on Mortgage Exit Administration Fees (MEAFs), I am writing to complain about the charge on the above account when I exited my mortgage contract with Cheltenham & Gloucester.

In particular I note that the FSA stated “if a past customer who has paid a higher MEAF to exit complains, he or she can expect a refund of the difference between the actual MEAF paid on exit and the original MEAF.”

At the time I entered into my contract in 2002 I believe the fee was in the region of £50.00 however, in June 2004 and in September 2006 we remortgaged with yourselves and believe we paid a higher MEAF, the fee had increased to around £225.00 by the time I closed the account in September 2006, as is shown on the mortgage statement I received dated 31st December 2006.

I therefore ask you to refund any overpayments made by ourselves including any interest where necessary.

I look forward for a full response to this letter within 14 days.

Yours faithfully,





Mr & Mrs ********

hcmix

Hi!
Apologies if this has been asked already. Have just checked our Mortgage Redemption statement from Birmingham Midshires last year and it has a 'Vacating Fee' of £150.00 on it. Does anyone know if this is this the same as an exit fee?! I'm confused?!!!!!:eek:
Thanks!

packer_fan

Hi!

Does anybody know what the exit fees are for the CBS ? and has anybody tried to reclaim from them ?

TIA

MarkyMarkD

Nicky321

Not much point posting your long letter in two separate threads.

You won't have paid an MEAF for "rejiggling" your mortgage - I presume that you actually switched product and paid a fee for that product switch which is NOT reclaimable.

You cannot remortgage with the same lender - you can switch product. So the terminology in your letter is wrong and in any case, the product switch is irrelevant to the claim.

Nicky321

MarkyMarkD wrote: »

Nicky321

Not much point posting your long letter in two separate threads.

You won't have paid an MEAF for "rejiggling" your mortgage - I presume that you actually switched product and paid a fee for that product switch which is NOT reclaimable.

You cannot remortgage with the same lender - you can switch product. So the terminology in your letter is wrong and in any case, the product switch is irrelevant to the claim.

thanks MarkMarkD, but on my statement it appeared as Closing administration charge of £225.00 (which i thought was the equivalent of MEAF). I also incured early redemption charges with I know I cannot claim back

Nicky321

Ok my mistake guess I wont be claiming anything back

Cookiepops

you don't know your account number and are not sure if you are entitled to an exit fee repayment? I had a mortgage with Barclays from 1998 - 2002 on my current address but I havent got any of the paperwork. Can I just send them this info and ask them to look into it?

Thanks

MarkyMarkD

Yes, Lisa.

Nicky321 - I don't understand what "rejiggling" you did which would have led to a closure administration charge. Can you explain exactly what you did to your mortgage, as it does sound rather odd that you were charged this amount?

kat1234_2

Hi am new and wanted to know how to reclaim back my money

I switch to abbey 14 th june 04 when i was time to swap i change to the halifaxs how do you know if you havee been charged to much some one please help me i am in a mess thank you