bank charges for mortgages

jenmurdoch

Hi everyone,

Does anyone know if you can reclaim bank charges from mortgages? I sold a flat a few years ago and my bank charged me about £4000 because I was selling before a certain time period had elapsed. I was unware of this when I signed up for the morgage. Any advice or how to go about this would be much appreciated!

Jennifer

Edinburghlass_2

I'll shift this to the Mortgage Board for more help.

dunstonh

Does anyone know if you can reclaim bank charges from mortgages?

bank charges and mortgage charges are two different things.

I sold a flat a few years ago and my bank charged me about £4000 because I was selling before a certain time period had elapsed.

And correctly so within the terms of the contract.

I was unware of this when I signed up for the morgage.

I'm sorry. I don't believe you.

It would have been in the terms of the mortgage deal, it would have been on the mortgage illustration and most importantly, it would have been on the offer letter you signed which is normally done in front of a solicitor (on a purchase) who explains the terms to you before you sign.

(sorry. it may sound harsh but you cannot realistically have missed it)

MortgageMamma

No offence Jen but the forums been flooded with the posts lately due to a lot of press coverage on reclaiming bank charges and redemption admin fee's which as something totally different to the early repayment charges you describe.

Just to let you know next time you take a mortgage, even a fixed rate one, there are loads of contracts available now that don't tie you in, for example, leeds buildings society 5.99 fixed, free legals and free vale with an arrangement fee of about 499. Slightly higher than the best rate around but just wanted to demonostrate that if you want flexibility built into a contract you have to pay for it