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claiming charges on mortages
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jenmurdoch
Posts: 2 Newbie
A few years ago my bank charged me for selling my flat early. Can I reclaim these charges?
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Comments
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No you can't.When you took out your mortgage on the flat it was a contract that entitled you to a preferrential rate via discount or fix. You agreed & signed the terms of the mortgage, which detailed any early repayment charges. These charges are set for early repayment otherwise the bank/building society would actually be out of pocket in a lot of cases when people exit early.The bigger the bargain, the better I feel.
I should mention that there's only one of me, don't confuse me with others of the same name.0 -
You agreed to those charges before the mortgage was even advanced to you. There is nothing illegal about those charges whatsoever.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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