Mortgage fees 20 August 2018 at 12:00PM in Reclaiming mortgage fees, council tax, etc 4 replies 1.4K views

willkilner23

I bought a house back in 2007 with my now ex partner. we had some financial difficulties and got into some arrears.
We are looking into selling the house but there is a £5500 fees balance on the mortgage. This is mostly made up of £54 arrears monitoring charges, £31 direct debit fees and various "insurance policy fees" There is then interest charged on all of these items.
The mortgage has changed hands several times and the fees statement from the current provider starts with an opening balance of £1500 no evidence of what it is for.

Does anyone have any advice on how to get these fees struck off?
Many thanks in advance
Will

[Deleted User]

willkilner23 wrote: »

Does anyone have any advice on how to get these fees struck off?

Other than you declaring insolvency, I can't see any reason why these fees might be "struck off".

Why do you think they should be?

willkilner23

Moneyineptitude wrote: »

Other than you declaring insolvency, I can't see any reason why these fees might be "struck off".

Why do you think they should be?

Was there not some ruling by FSA about unfair arrears monitoring charges?

Also they dont appear to have any evidence of why i owe them the initial £1500 from the arrears statement.

t_in_atrance

Yes. The FCA took certain mortgage providers to task for unfair & excessive fees. Some providers made agreements with some of these providers to pay out for charges applied over certain periods. You'll need to look on there website.



I've only just discovered this myself - my provider should have contacted me but didn't. Some firms hid the truth and made small adjustments to borrowers accounts with excuses such as 'calculation error' However they didn't credit for the interest they over charged or other refund charges incurred that would otherwise have not been applied.



Some firms don;t want to have to explain their charges to a judge so may get charges refunded ouwith any period specifically agreed between themselves and FCA.

dunstonh

Yes, the FCA did a review of fees and found a small number of lenders, mainly sub-prime ones, did not act fairly and forced them to refund money. The mainstream lenders had no action taken against them.