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Clarification please: Remortgaging & Exit Fees

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Am I right in thinking that each time you remortgage, the lender adds on a mortgage exit fee to the overall loan? Does this mean that if I remortgaged say, 3 times, if I write to the lenders requesting a refund, I should be entitled to something back?

Also: I am no longer the Halifax, but over the 10 years I was with them, I changed (i.e. remortgaged) to about 4 different products (fixed, capped, then fixed etc.) with the same lender. Does this mean that for each time I remorgaged, I should be entitled to a refund of sorts?

I would be so grateful for clarification. Many thanks.

Comments

  • dwsjarcmcd
    dwsjarcmcd Posts: 1,857 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Suzkin
    You are only entitled to a refund if the amount charged when you remortgage is different to the amount that was actually quoted in your mortgage's original T & C's. This is where the claims are coming from, if the charge hasn't changed, then there is no claim, if it has you can usually claim the difference.

    When you changed products with the Halifax, you weren't remortgaging as you stayed with the same lender. Exit fees are not applied when you swop products with the same lender so you have nothing to claim.

    David
  • Suzkin
    Suzkin Posts: 517 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    Thank you so much for explaining this to me, dwsjarcmcd.
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