Rate switch fee £695!

teamvan

Could anyone assist me in this one!, I am new to the forums & after successfully cliaming back £120 from Halifax & Barclays on the final repayment fee this morning, I was wondering if any one knew if these fee's are refundable.

We had to pay an exit fee when we moved house in April 2006, £275, with Barclays, which we are getting £100 back, and when we changed rates in October 2006 we were charged £695 rate change fee, can these be claimed back? At no point have we repaid the original mortage.

Thanks.
:beer:

toonfish

teamvan wrote: »

Could anyone assist me in this one!, I am new to the forums & after successfully cliaming back £120 from Halifax & Barclays on the final repayment fee this morning, I was wondering if any one knew if these fee's are refundable.

We had to pay an exit fee when we moved house in April 2006, £275, with Barcalys, which we are getting £100 back, and when we changed rates in October 2005 we were charged £695 rate change fee, can these be claimed back? At no point have we repaid the original mortage.

Thanks.
:beer:

you can't reclaim these as they would have been clarified at the outset, and not changed through the course of th eloan as is th ecase with redemption fees. Had you not paid this fee presumably you would have been on the standard variable rate, with much higher repayments.

teamvan

Cheers for that, always worth a try!!

Thanks.

dunstonh

we were charged £695 rate change fee

Think of mortgages as a retail product like televisions, tins of beans etc. The £695 is part of the price. It's published up front and you agree to pay it to get the product. In this case a fixed rate or discount or whatever.

The only mortgage charge that is under review is the redemption charge and that is because of the level it has increased by. That itself is not reclaimable. Only the difference between what it was at the start and what you paid.