Reclaim mortgage bank charges

antbarson

Hello

Wonder if anyone can advise;

1 - I've just left my mortgage with Halifax who levied a £100 'admin fee' on to my final settlement figure. :mad: Can they do this or is it a charge and should I be looking to reclaim it as an unfair charge?

2 - My new mortgage lenders, Bank of Ireland have levied me with a one off £25 charge for using my buildings insurers and not them. This was specified in their paperwork, but same question as above.

Thanks

Antony

borgbaiter

hi

the mortgage end fee should be as in you original offer. if not you can reclaim the difference.

the bank of ireland insurance thing i think youll find is annual, just got one of these mortgages myself. irksome but i think the low fixed rate is worth it. its clearly stated so i recon were stuck with that one unless someone can say its an unfair contract term.

Borgbaiter

antbarson

borgbaiter wrote: »

hi

the mortgage end fee should be as in you original offer. if not you can reclaim the difference.

the bank of ireland insurance thing i think youll find is annual, just got one of these mortgages myself. irksome but i think the low fixed rate is worth it. its clearly stated so i recon were stuck with that one unless someone can say its an unfair contract term.

Borgbaiter

Thanks. Will dig the p/work out and look through. Was thinking about chucking all the Halifax papers anyway so as not to get confused.

Who can say that the £25 annual charge is unfair? I certainly didn't notice it when signing. :mad:

Ant

dunstonh

Who can say that the £25 annual charge is unfair? I certainly didn't notice it when signing. :mad:

The £25 fee is published and is in their list of charges. As a published admin fee it is fair. It doesnt matter if you can get cheaper, then same or more expensive elsewhere. You know the charges before you buy the product (if you choose to read the charges booklet you were issued with).

Admin charges dont have to be fair. The rules on admin charges are not the same as penalty charges. Although the FSA does have a TCF guideline that which they have used already on redemption charges to keep the charge fair. A £100 charge is well below most of the others (typically £250) and sounds like the sort of amount you would have had on the original contract.

dwsjarcmcd

I think you will find the £25 fee is a one off fee, not an annual one

helliecopter_2

antbarson wrote: »

Hello
I've just left my mortgage with Halifax who levied a £100 'admin fee' on to my final settlement figure. :mad: Can they do this or is it a charge and should I be looking to reclaim it as an unfair charge?

I'd double check with the Halifax what their 'admin' charge covers - is it for the releasing the deeds?
If so it's worth reminding them that the OFT said £50 was a fair amount. I finished a mortgage with the Halifax in 2004 and after reading this site re the overcharging on mortgage fees I gave them a call. I explained the OFT findings etc and they sent me a cheque for £25 two days later. Happy Days!

antbarson

helliecopter wrote: »

I'd double check with the Halifax what their 'admin' charge covers - is it for the releasing the deeds?
If so it's worth reminding them that the OFT said £50 was a fair amount.

Thanks. :beer: I'll drop them a line right away.

antbarson

Had a reply from the Halifax. Actually a real, human reply letter, but there is no back down in the charge.

I will now hit them with my trump card (above). :j

Thanks again all.

Ant

Noz

helliecopter wrote: »

If so it's worth reminding them that the OFT said £50 was a fair amount. I finished a mortgage with the Halifax in 2004 and after reading this site re the overcharging on mortgage fees I gave them a call. I explained the OFT findings etc and they sent me a cheque for £25 two days later. Happy Days!

When was that said?

cattie

Halifax currently charge £50 for releasing the deeds, so the charge is not down to that.