Am I entitled to reclaim this fee??

munnyhoney

I wrote to my previous mortgage lender and asked them for a breakdown of the fees I paid. They recently replied stating that I paid a redemption fee of £75.00 a funding fee of £600.41 a redemption penalty of £600.41 settlement interest of £72.38 and deeds supply fee of £50.00.
They stated that the funding fee and redemption fees were applicable as the account was still in a fixed rate period therefore all fees applied have been done so fairly and lawfully therefore they will not be refunded.
This is all japanese to me! is this right? or should I be challenging them?? don't know what to do next, please help!!
Thanks in advance.

KTF

Almost every fixed rate mortgage has a penalty that gets applied if you remortgage within the fixed period so if you did remortgage whilst still within the fixed rate period then they are entitled to charge you the fees.

This would have been explained when you signed up to the mortgage and you almost certainly wont get them back.

munnyhoney

Thank you, it was worth a try!