NEW Mortgage Exit Fees Discussion

POSSETTE

Just a query..i have had mortgages with the virgin one account and scottish widows in last 6 years.i dont have any paperwork so no account numbers,,BUT i have been on Experian website and found the dates when i started and paid up each account,so i have written to them using the template letter giving this.Do you think it will work??

MarkyMarkD

@Confused - it doesn't have to be "reasonable" if you agreed it up front. If you took out your mortgage in 2005, the discharge fee will DEFINITELY have been included in your key facts illustration issued at the time the mortgage was incepted.

@Possette - yes. Why not? The only reason it wouldn't "work" is if you've been charged the right amount in the first place.

Noz

POSSETTE wrote: »

Just a query..i have had mortgages with the virgin one account and scottish widows in last 6 years.i dont have any paperwork so no account numbers,,BUT i have been on Experian website and found the dates when i started and paid up each account,so i have written to them using the template letter giving this.Do you think it will work??

no reason why it wouldn't

CeeJayBear

I had a 40k mortgage with Halifax about ten or so years ago, it only ran for about 18 months or so then I paid it off in full and they charged me £1100 to pay it off, I thought at the time it was a bit expensive but let it go. Do I have any chance of reclaiming it?

MarkyMarkD

No, because that £1,100 was almost definitely an Early Repayment Charge (ERC) not an MEAF, i.e. incurred because you redeemed the mortgage during a tie-in period. ERCs are legitimate and can't generally be challenged; they are not relevant to the FSA's ruling on MEAFs.

donal_f

Earlier on thisyear, I successfully got £130'ish from Abbey.

When reading Martin's newletter this week, it occurred to me that I should look into a 2003 redemption with The Woolwich on a buy-to-let mortgage I had. I couldn't find any mention of the fee paid in my records - so called the number listed on this website.

They were very efficient on the phone and agreed to pay me the difference £55 plus £9 interest by telegraphic transfer. All done within about 5 minutes!

Thanks to Martin & co!

Regards,
Donal

simmmy_2

Northern Rock

Hi, can anyone with experiance of reclaiming the exit fee from NR tell me if it is worth me trying, i have found that i paid a "discharge fee" of £85 and a "deeds despatch" fee of £75 when i changed my morgage in 2002.

I guess i will get nothing back on the deeds despatch fee but am i likely to receive anything back on the discharge fee?As i don't believe this to be very high/overcharged.

Thanks

kellyles

Two things :

1. How far back can you go?

2. We are currently remortgaging - due to complete in next week or two,and exit fee is £295.

We originally took out the mortgage in April 2006, at which time we were advised of the above fee.

Can we reclaim some of this fee too? If we can, how do we do it - pay the fee with the completion monies and reclaim, or contact them beforehand to get it reduced to the acceptable amount?

Any help would be gratefully received.

Noz

kellyles wrote: »

Two things :

1. How far back can you go?

2. We are currently remortgaging - due to complete in next week or two,and exit fee is £295.

We originally took out the mortgage in April 2006, at which time we were advised of the above fee.

Can we reclaim some of this fee too? If we can, how do we do it - pay the fee with the completion monies and reclaim, or contact them beforehand to get it reduced to the acceptable amount?

Any help would be gratefully received.

1. Strictly (and legally) speaking 6 years, however lenders have been making refunds where applicable before that period
2. No, you are being charged what was quoted so nothing is owing to you

tedcatuk

just to let you all know the fun im having with abbey.
having had two previous morgages with them i wrote askinbg them to check these only to be told that they needed all details ie account no post code dates of loan-luck had it i had all of these and got back £15.00 for one morgage but was told there was no record of the other ! i have taken the complaint further tele no 084506006014 abbey customer complaints and will let you know how i get on.
(i think abbey are trying to make things difficult for customers to reclaim mvfs)