buy to let motgage

davidat19

Hello, I am a newbie!
I had a buy to let from the Mortgfage works 3 years ago. Have sold the house to clear it.
A couple of points:
Very high cost to set up (around 7 grand to get 120,000)
Life insurance was mentioned (i didn't get any) and was never checked up on.
There are fees to redeem, but not sure how much yet.
Are there any avenues to follow to reclaim any of the costs?
All advice gratefully received!

roonaldo

Why do you feel you should have them refunded? If they are all as per your mortgage offer and terms and conditions there is no wrong doing.

davidat19

I found the fees seemed to be a bit high. I am not stupid (my opinion), and I don't remember beeing warned about all the costs, I thought around £500 was the first figure, it ended up being several thousand. I'm reffering to costs that seem to build up stage by stage.....having started making plans on a our life platform (!) we were well into arrangements, and it seemed even though it was going to take a few weeks, it was months to organise.
It seemed at the time to be the easiest thing to agree to the fee going onto the loan. Obviously the whole thing was a bit worrying.

ScotlandM

If you could list what fees and what they were for it'd help anyone judge it.

I go around my supermarket putting all this cheap food but in the end it comes to 50GBP! If i want all the food I pay all the total price. Perhaps they did add some secret hidden costs but perhaps they charged for the correct amount and for all the correct items. Surveys etc

When i bought a house i had booking fee, product fee, valuation fee, legal fee just to get the mortgage. Then i was paying my soliciter for his time, some surveys, paper work. There are also insurances, house, life, payment.

It would also change things if you did or didnt know what you were doing. Man in suit asks "shall I do this you need it for this". You say yes and he bills you HIS rate for it. But if you had said no because you knew you didnt need it or knew someone else who did it for half his rate it also would matter.

Fees tend not to be reclaimable, but charges could be. Charges being punishments, fees being the price of goods/services