Sealing - Deeds Release Fee - A&L - WARNING

michaels

A word of waring over a sharp practice...

I signed up to A&L on a 2yr discount with a redemtion penalty during this period.
When I signed up the fee to end the mortgage (sealing and deeds release) was (a fairly extortionate) £160.
Whilst I was locked in this fee was raised by about 90% to £295.
The obvious explination for this was to make switching as expensive as possible. However I struggle to see how this could be considered a fair change to my T&C when I did not have the option to change lender when the fee increase was announced.
Anyone have any advice on who I could complain to?

pengers

I thought TSB were using this sharp practice too so I complained strongly that they were putting up the redemption charge by 50% to 100% year after year. They explained that I would not have to pay this charge if I simply let the policy run till maturity (which is only 3 years away). They agreed that the terms could be clearer.
So I hope you are intending to let yours run and that A&L have the same system. I agree with you completely that it is not fair to increase charges if they are unavoidable (ie all policies come to an end sometime)