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Should we be charged exit fees for switching products within the same provider?

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Hi,

Does anyone know whether the new 'best practice' guidlines for mortgage companies to cover the topic of charging exit/deeds release fees when you simply switch mortgage products within the same provider?

I recently switched my Bank of Scotland mortgage to an Intelligent Finance mortgage (which is part of the same company/group) and was charged a deeds release fee even though, strictly speaking, I was not changing my provider....

Any thoughts/input would be welcome.

Comments

  • KTF
    KTF Posts: 4,848 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    I imagine its because BoS and IF are 'technically' different companies. If you had gone BoS to BoS then there wouldnt have been an exit fee.
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