Clarification please: Remortgaging & Exit Fees

Suzkin

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.

dwsjarcmcd

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

Thank you so much for explaining this to me, dwsjarcmcd.