original MORTGAGE TERMS CHANGED

Angelina_Soprano

I have been overpaying my mortgage off for years now - yes it was a missold endowment ... and yes the company paid a goodwill gesture of a couple of thou - never mind that I was recently £8000 shortfall -
well guys - I have now received in the post a letter IMPORTANT INFORMATION - NEW MORTGAGE TARIFF OF CHARGES Further to a review of all our mortgage fees, we have updated the information on the reverse of your statement. We have made these changes to bring them in line with the current cost of administering your Britannia Mortage account. These charges will come into effect from 1st March 2013.
Redemption amount includes ANY EARLY REPAYMENT CHARGE APPLICABLE AND A DISCHARGE FEE OF £125 PER MORTGAGE PLUS A £35 DEEDS RELEASE FEE PAYABLE FOR REDEEMING YOUR MORTGAGE PRIOR TO ITS SHEDULED TERM EXPIRY DATE. gUESS WHAT Martyn - prior to this - the original 1988 mortgage had NO EARLY PAYMENT fees - how dare they - they fleece me for years - I struggle to pay the mortgage as a single parent - I overpay so cannot afford holidays, new car, rob peter to pay paul - etc and now this is the final insult - not only did they missell the damn thing - and want people to overpay - but there is now a new penalty for doing the right thing and overpaying and paying early when there was no such charge in place before - they should wear black masks and go on the highway. Martin please take this to parliament - surely they cannot keep fleecing people who are overpaying - by changing mortgage terms to suit them. They have a lovely download on website on how to overpay - now they are doing this - please martin and team - be our champions and zap these financial thieves out of the picture. i FINISH my mortgage this year after a long long time of paying and overpaying and struggling now this is the last straw

Thrugelmir

However much you rant. The changes are legal.

Yorkie1

I thought that redemption fees / exit fees couldn't be changed from the original terms of the contract?

_Andy_

"they should wear black masks and go on the highway"

Sorry but this is comedy gold

_Andy_

God only knows why the OP is rambling on about parliament rather than just doing a simple complaint to the mortgage provider.

kingstreet

Some time ago, the FSA ruled the lender could only charge the discharge fee it quoted at the outset. Lenders which increased charges during the lifetime of the mortgage were told to refund the difference.

The OP needs to look back at the original documentation for the mortgage, the offer and its accompanying terms and conditions, which may, at that time, have been contained in a separate leaflet.

This is a "final fee" not an early repayment charge. This fee is paid when leaving the lender at any time, including final repayment at the end of the mortgage term.

Angelina_Soprano

_Andy_ wrote: »

God only knows why the OP is rambling on about parliament rather than just doing a simple complaint to the mortgage provider.

no 1 I am not an OP thanks
no. 2 because crime needs to be sorted out by law - law that is recognisable and hopefully accountable -

It will be interesting to know how many other banks and building societies have been fixing the system -
it takes the USA to get the truth out
If it is found that the Britannia BS had people fixing interest etc when my endowment was in force - can I sue ? :j

_Andy_

"no 1 I am not an OP thanks" - er, yes you are. Are you familiar with the term?

Angelina_Soprano

kingstreet wrote: »

Some time ago, the FSA ruled the lender could only charge the discharge fee it quoted at the outset. Lenders which increased charges during the lifetime of the mortgage were told to refund the difference.

The OP needs to look back at the original documentation for the mortgage, the offer and its accompanying terms and conditions, which may, at that time, have been contained in a separate leaflet.

This is a "final fee" not an early repayment charge. This fee is paid when leaving the lender at any time, including final repayment at the end of the mortgage term.

_Andy_ wrote: »

"they should wear black masks and go on the highway"

Sorry but this is comedy gold

Unfortunately it is also what they should be doing -
lets see if the USA uncover more corrupt fixing shall we ...
liars, cheats, hypocrites and suprise surprise some of them have left banking - no doubt with a lovely fat pension - lets hope the tax free evasion routes all collapse .

Angelina_Soprano

Thrugelmir wrote: »

However much you rant. The changes are legal.

spoken like a true B anker

Thrugelmir

Angelina_Soprano wrote: »

spoken like a true B anker

That's the danger for people that assume too often. Rather than investing their time wisely. More often or not they are totally wrong and wide of the mark.