Claim back mortgage arrangement fees?

aspguru

Does anyone know if it is possible to claim back fees for applying for a mortgage?

MarkyMarkD

No. Why should it?

You chose to buy a mortgage with arrangement fees; you have to pay them or you don't get that mortgage.

You can freely choose other mortgages without arrangement fees, but the rate will normally be higher. It's your choice, and there are no grounds for reclaiming such fees.

AndrewSmith

What part of a mortgage arrangement fee is unfair or unlawful?

It is a fee payable by you for a particular product offered by a provider.

Would you apply the same thinking to every product you purchase?

It's a bit like saying you want to claim back all your car insurance premiums as you feel it's unfair that you paid for it but never claimed.

MortgageMamma

why do you want to claim the fee back?

Mr_helpful

MortgageMamma wrote: »

why do you want to claim the fee back?

It unfortunately has been mistaken as what this site is all about. ie pay for nothing, learn from those with no experience and wonder why you stay poor.

MortgageMamma

Oh dear helpful your not mincing your words today did you get out of the wrong side of bed?

Mr_helpful

No just telling the truth. If that hurts so be it.

MortgageMamma

There might be a good reason for the OP mistakenly thinking they can claim these back, such as a deal falling out of bed or something, or a !!!! up by a lender/broker, its always better to get the full facts before shouting someone down on an assumption

kenshaz

Why not just explain to the poster the situation .Mortgage lenders started charging a fee that was not proportional ,it was for those borrowers who had decided to pay off their mortgages ,do not confuse it with a redemption penalty which is written into your contract.

I for example paid off my mortgage early ,but the £275 they charged me was far to high,the government have since decided to look into the situation ,and most institutions realising ,have refunded a proportion.

Martin has written an article on the procedures ,but I feel that your description ,does not fit the circumstances .

I feel that posters must respect for questions and realise that some do not earn a living from financial affairs therefore it would be nice to be helpful.

kenshaz

Please be nice to all MoneySavers. There?s no such thing as a stupid question, and even if you disagree courtesy helps.

Martin's words not mine.

aspguru

Mr_helpful wrote: »

It unfortunately has been mistaken as what this site is all about. ie pay for nothing, learn from those with no experience and wonder why you stay poor.

Mr. (not so) Helpful, please do not assume I am poor because I am on this forum. I have very management debts and this is due to the fact that I am meticulous with my spending and simply enjoy martin's tips. Oh, and yes, there is a very valid reason for me asking my 'stupid' question.

Many thanks for everyone's advice, good and bad.