Mortage fees

tjwhittaker

I have got my statement from our previous lender with charges on but i am not sure waht i can claim back.
Can i claim the following
Interest that has been charged.
A second charge questionnaire fee(what ever that is)
Redemtion statement fee
And an early repayment charge.
Completon fee
Telegraphic transfer fee
And finally a higher lending charge

I would be grateful if someone can help me on this.

dunstonh

You cannot claim any of those back.

However, if the redemption penalty (not the early one but the closing penalty - typically £50-£250) has been increased over what it was on the offer letter at the start, then you can complain and request the difference back.

All the other fees are quite valid.

tjwhittaker

Ok thanks for your help.

silvercar

I've tried to explain the charges in blue

tjwhittaker wrote: »

I have got my statement from our previous lender with charges on but i am not sure waht i can claim back.
Can i claim the following
Interest that has been charged.
No, this is the interest you pay for borrowing the money
A second charge questionnaire fee(what ever that is)
At some point did you request the lender's agreement to take out a secured loan?
Redemtion statement fee
The charge for preparing this statement
And an early repayment charge.
If you redeem your mortgage early (usually during a deal)there is a charge which would have been in the terms when you took out the deal.
Completon fee
Ending the mortgage charge
Telegraphic transfer fee
The cost of the lender transfering the money when you took your mortgage
And finally a higher lending charge
When you take a mortgage with a high loan to value ratio,, lenders charge this - it would have been in the original terms.

I would be grateful if someone can help me on this.

If the completion fee is higher than it was when you took out the mortgage you could claim the difference.

The redemption statement fee and the second charge fee could be queried, only if they weren't in the list of charges when you took out the mortgage. I find the redemption statement fee a bit out of order as they would have to prepare one when the 25 years were up.

tjwhittaker

Ok thanks alot for your help,i now understand what all these things mean.

moofo

I want to question the validity of a redemption statement fee.
I am selling my home and ready to ccomplete.
I have been charged £75 per statement totalling £300 on both loans.

Is £75 a justifiable amount for preparing a redemption statement ?
For 4 pieces of paper containing your own information I think not when it only costs £10 for a DPA request.
Has anyone ever contended redemption statement figures?

AndrewSmith

If it was listed in the original terms and conditions booklet / information that you signed in agreement to then you have no choice but to pay it.

moofo

That is shocking.
So can they charge me £30 per letter they have sent me as well?
I thought that these were disproportionate penalties no ?
It doesn't cost £30 pounds to send a letter confirming the fact you are already late with a payment surely ?
It is blatantly a profit making scheme.

So shouldn't the same rules apply to a redemption statment ?

AndrewSmith

But then likewise does it cost a plumber £60 to get in his van and drive for 5 miles to walk through your door before he does anything? No, but we are happy to pay these call out fees plus whatever else they charge without question.

moofo

AndrewSmith wrote: »

But then likewise does it cost a plumber £60 to get in his van and drive for 5 miles to walk through your door before he does anything? No, but we are happy to pay these call out fees plus whatever else they charge without question.

You may pay that but I wouldn't.

moofo

AndrewSmith wrote: »

But then likewise does it cost a plumber £60 to get in his van and drive for 5 miles to walk through your door before he does anything? No, but we are happy to pay these call out fees plus whatever else they charge without question.

As far as I am aware , unless they can provide a full breakdown of the cost of sending a letter then they have to refund you the money.
You cannot be charged for a "service" for anymore than the true cost.
Anything higher than the cost becomes a profit making scheme.
Which £30 for an automated letter blatantly is.
I will try find more information on this for you.