NEW Mortgage Exit Fees Discussion

dacado

Thanx for reply .
The £120 fee was not put in our offer anywhere only the erc's of 6% of the outstanding balance if paid in the first 3 years then it says nil thereafter.
Then in there fees leaflet it says unless otherwise stated erc's will be ....5% 1st year, 4 % etc

Then a redemption sealing fee is listed as £120.

so is that for all customers or does it have to state in our offer.

can we claim that back or is it not classed as a MEAF???

MarkyMarkD

If you got the fees leaflet with the offer, then the £120 is a binding part of the offer and you should pay it.

LouBlue

MarkyMarkD wrote: »

@LouBlue - I have heard this same query re Halifax before. They are WRONG. Anything which is a payment relating to the redemption of a mortgage forms part of the MEAF, and is subject to the FSA's ruling on MEAFs. They can't isolate particular elements of the MEAF and pretend they are exempt. Look at www.halifax.co.uk for contact details or Google "Halifax Customer Relations".

Thank you, I thought they might be trying it on. I will send the template letter.

Sam1903

Well read this topic again last night and rang C& G this morning.I had no details at all just the address and postcode, Lady very helpful and £50 plus interest on its way to me total of £62.38 and it only took 6 minutes

I waited to do this when I had a day off as didnt want to get into an argument with them at work but they were really nice about it
So if your thinking I dontbhave the details etc just give a call

Thanks Martin its not a lot but better in my pocket or should i say offset aginst my mortgage:T :T

avaline_2

Back in 2001 I managed to pursuade my lender to waive the 6% Early Redemption Fee (£2,200!!) on a mortgage taken out in early 1996, but even though Ive still got the original mortgage papers there's no reference to a MEAF. Is it likely that they sneaked this in without me realising or does one preclude the other?

Mind I did pay a £295 Arrangement Fee and a £248 "risk fee", so they still fleeced me in other ways!

tatiana

For the second time my husband and I have changed the mortgage product with Standard Life. Both times they have charged us. The first time £499 and this time £599. Can this be claimed back? Standard Life says no.

wasa123

I'm due to pay £225 exit fee to Standard Life shortly as our 2 yr fixed has come to an end and we are remortgaging. This seems excessive? Do we pay and then claim or say it is unfair beforehand? Bit of a novice when it come to these things so any help appreciated.

Noz

wasa123 wrote: »

I'm due to pay £225 exit fee to Standard Life shortly as our 2 yr fixed has come to an end and we are remortgaging. This seems excessive? Do we pay and then claim or say it is unfair beforehand? Bit of a novice when it come to these things so any help appreciated.

http://www.moneysavingexpert.com/reclaim/mortgage-fees

As you only fixed 2 years ago, you need to check if you actually due anything back

Noz

tatiana wrote: »

For the second time my husband and I have changed the mortgage product with Standard Life. Both times they have charged us. The first time £499 and this time £599. Can this be claimed back? Standard Life says no.

You need to check what exactly these fees were - they sound like arrangement fees and they are not applicable for refund

Confused_with_Money

I am looking at leaving my current mortage deal with IF becuase the fixed interest period is ending. Also, IF say they currently have no new deals for existing mortgage holders, so I will be automatically moved on to their standard variable rate. Which I think is harsh. I requested a Statement and I notice they have said I will be charged have a "Mortgage Discharge Fee" of £140. I don't recall this fee when I took on the mortgage and do not have any paperwork indicating this fee. Is this fee reasonable? Thanks