Help with Fees then taken back?

flub_2

Hi Guys,
Hope you are all well.

First of all sincere apologies for not having gone through all the threads, I have just had a car accident and I am moving on Friday so not in best frame of mind!

I took out a mortgage with Northern Rock in May 2005 where they 'gave' me £1000:00 towards moving expenses. I am now moving again into a smaller property subsequently giving them £25,000:00 back whilst staying with them as a customer.

For this kind act I am being charged £750:00 as a proportion of the indemnity I would have paid if I had redeemed the whole mortgage plus the £1000:00 'gift'.

Does this sound fair? Do you think I can claim it back and if so the best way of doing it?

I will look at more threads but the painkillers are kicking in...many, many thanks for any help and advice.

dunstonh

For this kind act I am being charged £750:00 as a proportion of the indemnity I would have paid if I had redeemed the whole mortgage plus the £1000:00 'gift'.

What kind act? You are breaking the terms of the mortgage agreement and creating a potential loss for them.

For this kind act I am being charged £750:00 as a proportion of the indemnity I would have paid if I had redeemed the whole mortgage plus the £1000:00 'gift'.

It wasnt a gift. It was a cashback that you got to keep if you kept the mortgage for a certain number of years.

Does this sound fair? Do you think I can claim it back and if so the best way of doing it?

It is very fair. You cannot expect to be given money upfront without having some tie in.

Your solicitor would have informed you of this tie in and it was clearly disclosed on your offer letter that you read and signed.

The charge is fair and legal.

Dan_Collins_2

Agreed. You should read the term. It has changed over the years but help with costs has been about for a while. Your broker would or should have told you if you have used one or it would be the conditions. I now tell my clients to ignore the option unless they are fixing for 5 years.