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£2.500 exit fee?
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montillababe
Posts: 4 Newbie
Hi
We decided that we would like to change to an Ing flexible mortgage, but two years ago we changed from one abby product to another for three years, not fixed , I rang them the other day to find out how much I would have to pay as an exit fee, can you believe they wanted £2.500 and said that what what was in our contract, i must admit having always been with the same company,I did not look closely when signing, but surely this amount cannot be legal
montillababe
We decided that we would like to change to an Ing flexible mortgage, but two years ago we changed from one abby product to another for three years, not fixed , I rang them the other day to find out how much I would have to pay as an exit fee, can you believe they wanted £2.500 and said that what what was in our contract, i must admit having always been with the same company,I did not look closely when signing, but surely this amount cannot be legal
montillababe
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thats alot better than what i would have to pay to leave early.
Im with Northern Rock, and they charge £4500Turn £100 into 10k in 2010 - Member No. 242
£130 of £100000 -
Is that the lock in fee? Standard practice if it is.0
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I'll move your post to the mortgages board where you may get more replies
Hi, Martin’s asked me to post this in these circumstances: I’ve asked Board Guides to move threads if they’ll receive a better response elsewhere(please see this rule) so this post/thread has been moved to another board, where it should get more replies. If you have any questions about this policy please email [EMAIL="abuse@moneysavingexpert.com"]abuse@moneysavingexpert.com[/EMAIL].The early bird gets the worm but the second mouse gets the cheese :cool:0 -
Sounds like an ERC to me. Nothing wrong with it.0
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Just because you don't want to pay something doesn't make it illegal.i must admit having always been with the same company,I did not look closely when signing, but surely this amount cannot be legal
Almost all fixed or discounted rate products have a tie in for the fixed/discounted period.
The documentation you signed when you switched product would have made this very clear.
Your decision to switch to ING is obviously flawed - wait until your ERC expires and THEN think about whether to switch lenders.
It's virtually NEVER worth paying an ERC to switch mortgages, and I'd say even more unlikely with any sort of discounted loan.0 -
Try going into Comet and walking off with a TV without paying complaining that you should pay as its illegal and see how far that gets you.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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god arnt you lot mean:DYou're not drunk if you can lie on the floor without holding on0
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god arnt you lot mean:D
No. Just a bit fed up with these one post wonders trying to claim back every fee they have ever paid for which was totally valid.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
nahh..your just mean:D
You're not drunk if you can lie on the floor without holding on0 -
Yep. That penguin on the left should have listened to his solictor before he signed the contract.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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