early redemption penalties

sarz28

Can someone help me, im really confused on these early redemption penalties and claiming them back, when i read some articles on this subject it said people were charged 100's, but i was charged thousands. i have switched mortgage three times, each time being charge 6 months mortgage payments which was an equilivalent to £3000 each time, so can i claim this back?

dwsjarcmcd

Sorry but no, these charges are explicit in the T & C's of the mortgage and will not have changed during the life of your mortgages. These are not illegal. I suggest you do a search and you will find dozens of similar questions and the answer is always the same as mine.

You must have been really unlucky to need to switch lender 3 times during the fixed rate period!!!

Mr_helpful

dwsjarcmcd wrote: »

You must have been really unlucky to need to switch lender 3 times during the fixed rate period!!!

Could have had a bent broker (wasnt my former boss was it)

Innys

In a word - no.

People have been claiming back exit fees, for redemption of their mortgage once any tie in period for their mortgage has expired.

I think you were charged an early redemption fee three times. That was because you took, say a fixed deal for 2 years and then remortgaged 18 months into it. So you get stung for the unexpired portion of the deal you signed up for. It would have all been made clear in the documentation you were sent and you chose to proceed with the redemptions in each case.

You could try and claim the exit fees back on each of your mortgages you have redeemed but you won't receive back anything like the thousands you have had to pay in respect of redemption fees.

dunstonh

i have switched mortgage three times, each time being charge 6 months mortgage payments which was an equilivalent to £3000 each time, so can i claim this back?

Why on earth have you chosen to change the mortgage during the tie in period?

KTF

O goodie. Another thread about claiming back mortgage fees. :rolleyes:

Innys wrote: »

You could try and claim the exit fees back on each of your mortgages you have redeemed but you won't receive back anything like the thousands you have had to pay in respect of redemption fees.

For what its worth its the difference between the fee that was in the original paperwork compared and the one you paid when you changed mortgages that you can claim back. Its not the whole fee.