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Meaf Help Please!!!!!!
hheadcase
Posts: 44 Forumite
This is about the MEAF's - I had a mortgage with Amber Homeloans but they were taken over by Redstone (I then remortgaged with someone else), didn't know what the charges were (packed away due to builders being in), but I wrote to both on the off chance incase I could get some money back - no harm in asking!!!!!:rolleyes:
They wrote saying "Under the original tariff of charges, Amber was entitled to charge you a £75 mortgage discharge fee together with a fee of £50 to produce the title deeds to your solicitor. The total of the 2 charges amounts to £125.00. When you repaid your loan in February 2006, Redstone Mortgages charged you a redemption fee of £125.00. In the circumstances, Redstone Mortgages has complied fully with the terms of your mortgage contract and the Statement of Practice of the Financial Services Authority (January 2007) in respect of Mortgage Exit Administration Fees (MEAFs).
I don't really understand this, do I leave it or does anyone think I should persue - if persuing is the answer what do I write
They wrote saying "Under the original tariff of charges, Amber was entitled to charge you a £75 mortgage discharge fee together with a fee of £50 to produce the title deeds to your solicitor. The total of the 2 charges amounts to £125.00. When you repaid your loan in February 2006, Redstone Mortgages charged you a redemption fee of £125.00. In the circumstances, Redstone Mortgages has complied fully with the terms of your mortgage contract and the Statement of Practice of the Financial Services Authority (January 2007) in respect of Mortgage Exit Administration Fees (MEAFs).
I don't really understand this, do I leave it or does anyone think I should persue - if persuing is the answer what do I write
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Comments
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redstone are saying that their charge is the same as was originally notified to you be Amber. There is no claim for increased MEAF and no refund due to you.
The only way to disagree with this would be to find the original loan documentation from Amber and see what it says.
It does seem like Redstone have investigated this and found no error. TBH £125 is not excessive so I wouldn't expect you to have much of a claim.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
Many thanks for replying :beer:0
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redstone are saying that their charge is the same as was originally notified to you be Amber. There is no claim for increased MEAF and no refund due to you.
The only way to disagree with this would be to find the original loan documentation from Amber and see what it says.
It does seem like Redstone have investigated this and found no error. TBH £125 is not excessive so I wouldn't expect you to have much of a claim.
Others take note!!!!!!!
How to reply to a post without being remotely sarcastic, patronising or judgmental.
I salute you sir/madem. :T0 -
I think silvercar is a woman.I am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
MortgageMamma wrote: »I think silvercar is a woman.
No need to be sexist. We live in an equal opportunity world these days.
A world where even WOMEN can be IFA's.
Isn't it crazy?????
I love this country :j0 -
No need to be sexist. We live in an equal opportunity world these days.
A world where even WOMEN can be IFA's.
Isn't it crazy?????
I love this country :j
Are you going to bring anything of value to the forum today or are you here just to cause trouble?I am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
MortgageMamma wrote: »Are you going to bring anything of value to the forum today or are you here just to cause trouble?
I;ve got some milk tokens, 2 cans of carlsberg and 2 knocked off hd-tv (which flew out of the factory window if you catch my drift) which you can have at a special once in a life time price.
If that's not enough value I could always pawn my missus engagement ring?0 -
what all 0.10 cts of itI am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
At least she doesn't know that.0 -
Id keep the ring and pawn the missus if I were you. Rings go up in value, even Gerald ratner onesWho I am is not important. What I do is.0
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