Reclaiming Exit Fees on Secured Loans: Success!

Crown

Hi all,

Last week I posted about how I telephoned my old Mortgage Lender and reclaimed my Mortgage exit Fees back as discussed in Martins Article.

I just spoke to them again as I realised that I had another 3 accounts with them with smaller secured loans (this is when we were in the consolidation spiral). Well it turns out that we can recalim the fees on these as well and they will be sending me a cheque for £366.75 within the next 10 days.

If you havent looked into reclaiming Mortgage exit fees or possibly the secured loan fees then I would look into it immediatley. there was no letter writing and this is some of the easiert cash ive made/got back.


Good luck!

smudgemanc26

Crown wrote: »

Hi all,

Last week I posted about how I telephoned my old Mortgage Lender and reclaimed my Mortgage exit Fees back as discussed in Martins Article.

I just spoke to them again as I realised that I had another 3 accounts with them with smaller secured loans (this is when we were in the consolidation spiral). Well it turns out that we can recalim the fees on these as well and they will be sending me a cheque for £366.75 within the next 10 days.

If you havent looked into reclaiming Mortgage exit fees or possibly the secured loan fees then I would look into it immediatley. there was no letter writing and this is some of the easiert cash ive made/got back.


Good luck!

Great News Crown! :T

Just wondering though what are the fees you can claim back on a secured loan is it the early repayment fee? Just wondering as im going to be paying all of my loan off very soon and i know last time i asked for a settlement figure there were all kinds of extra charges added on!

rayday2

Well done Crown so pleased for you.

Crown

Cheers guys,

Smudge, Have you read Martins article on reclaiming Mortgage Exit Fees and the recent Ruling from the FSA?

http://www.moneysavingexpert.com/reclaim/mortgage-fees

The secured loans were with the same mortgage company and it seems that when we once again consolidated this debt by moving to another lender they charged us exit fees on all 4 accounts that we had held with them or thats how I understand it.

Now if Only I could reclaim the Early Redemption fees I would be laughing, I harte to think how much we wasted by consolidating debts over the years but it runs into tens of thousands on our mortgage balance!

smudgemanc26

Crown wrote: »

Cheers guys,

Smudge, Have you read Martins article on reclaiming Mortgage Exit Fees and the recent Ruling from the FSA?

http://www.moneysavingexpert.com/reclaim/mortgage-fees

The secured loans were with the same mortgage company and it seems that when we once again consolidated this debt by moving to another lender they charged us exit fees on all 4 accounts that we had held with them or thats how I understand it.

Now if Only I could reclaim the Early Redemption fees I would be laughing, I harte to think how much we wasted by consolidating debts over the years but it runs into tens of thousands on our mortgage balance!

I dont think this applies to me as my loan is with another company and i havent changed my mortgage provider just joined up with them again when the fixed rate deal ended.

Thanks for the info anyway.