reclaiming mortgage exit fee

alwaysworried_2

Hi,

By reading though the website I see that I might be able to claim back mortgage exit fees. Just wondering if someone can give me a bit more advice on this.

In 2007 my husband and I moved house and we had to move to a different mortgage lender.

For our old mortgage we were with Alliance and Leicester, however, they wouldn't give us the amount of mortgage required for our new property, so we took a mortgage out with Santander.

I'm assuming there would have been a mortgage exit fee with Alliance and Leicester as I can remember we had to pay them quite a large lump sum because we had taken out a fixed rate with them, and we were still tied in when we took or mortgage away from them.

I've read the section on how to claim these fees back. I can't find any of my paperwork. If I call them will they tell me if I had an exit fee or not.
As I'm now with Santander, and I think I remember reading somewhere that Santander owns Alliance And Leicester will this have any impact on my existing mortgage?

Many thanks

dunstonh

I'm assuming there would have been a mortgage exit fee with Alliance and Leicester as I can remember we had to pay them quite a large lump sum because we had taken out a fixed rate with them, and we were still tied in when we took or mortgage away from them.

That would be an ERC. Quite fair and legal and charged for good reason and not reclaimable.

alwaysworried_2

Oh I understand that they can make these charges after all it was me who wanted out of the deal, but I'm talking about the exit fees that Martin has mentioned and that the FSA have said people may have been over charged.

I'm not expecting the early repayment fee back I only mentioned that because I'm thinking I may have paid the exit fee in with that.

dunstonh

The FSA ruling was that if you paid more than you agreed at your last mortgage deal then the lender should refund the difference. The fee itself is fair. Only any increase. Most lenders stopped increasing them around 2004/5. A&L were £295 for many years. Did you pay more than your agreement?