We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Mortgage amendment charges....!
Options

sheryllamb
Posts: 2 Newbie
Could anyone advise me of something please regarding bank charges and mortgage amendments.
Our mortgage is with the Woolwich (now Barclays) and we have just written to them to amend the mortgage re-payment structure. We have a re-payment and an endownment mortgage.
We have asked them to change the “interest only” account from £10,000 to £40,000 and the rest of the outstanding amount to a re-payment scheme.
For them to do this, they have charged us £50.00 which seems a tad harsh, seeing as we've stayed with them and just literally given them an admin job to do.......!
Does this seem a bit unfair to anyone
? And if so, is there any way of claiming this back?
Thanks,
Our mortgage is with the Woolwich (now Barclays) and we have just written to them to amend the mortgage re-payment structure. We have a re-payment and an endownment mortgage.
We have asked them to change the “interest only” account from £10,000 to £40,000 and the rest of the outstanding amount to a re-payment scheme.
For them to do this, they have charged us £50.00 which seems a tad harsh, seeing as we've stayed with them and just literally given them an admin job to do.......!
Does this seem a bit unfair to anyone

Thanks,
0
Comments
-
Bog standard lender admin fee. You will more than likely have been given a document with your mortgage offer with a full list of all fees that could be payable during the mortgage term.0
-
Seems fair enough for the work, which may have included reassessing your ability to pay the increased interest only portion at the end of the mortgage. Someone has to pay and it's fairer for it to be those who make changes than those who don't. Definitely beats having to remortgage to do it!0
-
Due to remortgage soon and after getting good advice from L&C, who advised me to stay with my present lender A&L, I went to the A&L website to do transaction online and save fees/charges as described in Martin's guide. The most suitable remortgage offer for me was advertised at a fee of £499 with a tel.no. to call A&L. When I did I was told charges were £250 in addition to £499, total £749. I questioned why this £250 was not shown on their website and why the £499 charge when I knew what product I wanted and had tried to do it online but no joy! I was told thoses were the charges. Can anyone advise how to get round this or part of it, maybe the £250 part since I don't expect not to pay anything for what I suppose is an arrangement fee.
Thks, cajunbabe
0 -
It would be better to start a new thread with this as people will not be able to find it.
JoeKI am an Independent Financial Adviser.Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.0 -
Thanks for that, I just wanted to be sure, as our FA advised us that they probably wouldn't because we were staying with them, but it seems not!
I suppose that a charge of £50.00 is better than having to re-mortgage and pay over £500.00.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.7K Banking & Borrowing
- 253K Reduce Debt & Boost Income
- 453.4K Spending & Discounts
- 243.7K Work, Benefits & Business
- 598.5K Mortgages, Homes & Bills
- 176.8K Life & Family
- 256.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards