Exit Fee , abbey offering £4

Gforceuk

I've recieved a letter from abbey national after claiming my exit fee back and was slightly annoyed to recieve a letter saying.

'Please find enclosed a cheque for £4 being the difference between the amount that you were charged on redemption of £99 and the mortgage repayment fee stated in the mortgage contract'


now does this sound right ? should i just tear up a feeble £4 cheque and give up ? is there anything else i can do due to me not knowing what i was charged in the first place.

cheers for any help.

AndyWallace

As you don't know what you paid how can you progress it further?

The original mortgage offer may have had a £95 Mortgage Repayment Fee and a further amount for Administration Fees, totalling £225 or so - who knows?

You should find your original mortgage offer from the Abbey.

Gforceuk

ah ok



.

Tesco_points_addict

Whytear up the cheque?.....would you throw £4 out of the window? I know its not much (I got the same cheque today!!-but just had a laugh and though ah well some you win (£83 back from Woolwich) and some you only win ever so slightly ie £4 from Abbey!) I had my mortgage from 2002 to 2004 was yours a similar term?

bradthiele

Having been charged a £225 mortgage repayment fee back in 2005, I complained to Abbey recently and they sent me a cheque for £130, claiming that was the difference between the £95 fee in place when I took out the original mortgage and the £225 I was charged.

BUT, I dug out the original contract that we signed and there was no mention of any repayment fee in the schedule of fees. I therefore returned Abbey's cheque and requested a FULL refund of the fee.

Two weeks later I have a cheque for £225 in my hands. Perserverance pays!

Remember though - NEVER deposit the first cheque if you intend to protest further - send it back. By taking the money, you are agreeing to their settlement.

BRad

Tesco_points_addict

Thanks, I will do that! You never know I may get the full £99 (To be honest I have no idea what I was actually charged!)
What did you actually say in your letter?

bradthiele

I thanked them for their letter, but said I was not satisfied with their offer and was "duly enclosing their cheque". I stated that my mortgage contract made no mention of a repayment fee (I checked very carefully - it didn't!) and as such they had no right to charge it. I therefore requested a full refund of the £225 they charged me.

Note: I sent this to the Abbey Complaints department, rather than the Mortgage Customer Services, which triggered their official complaints procedure.

Good luck!

Tesco_points_addict wrote: »

Thanks, I will do that! You never know I may get the full £99 (To be honest I have no idea what I was actually charged!)
What did you actually say in your letter?

Tesco_points_addict

Will write the letter today and let you know how I get on in the next couple of weeks
Many thanks

MarkyMarkD

Many others have said they've had £4 from Abbey, being the difference between £95 due and £99 charged. It's not necessarily incorrect!

[STRIKE]Your mortgage contract wouldn't refer to a repayment fee as this is not a repayment fee but an exit administration fee/deeds dispatch fee/insert other name - almost anything but a repayment fee![/STRIKE]

bradthiele

I beg to differ - it is a fee simply payable because the mortgage was being repaid. But to be clear: My contract made no mention of any such fee, be it "repayment fee"; "exit administration fee"; "deeds dispatch fee" etc.

This is confirmed by the fact Abbey refunded it in full.

MarkyMarkD wrote: »

Many others have said they've had £4 from Abbey, being the difference between £95 due and £99 charged. It's not necessarily incorrect!

Your mortgage contract wouldn't refer to a repayment fee as this is not a repayment fee but an exit administration fee/deeds dispatch fee/insert other name - almost anything but a repayment fee!

UK007BullDog

BradThiele:

MMD was just pointing out in general that the exit fee has many names, depending on lenders and also when the mortgage was taken out as lenders tend to change things as well. But in your case you had none, so you were very lucky indeed.