is this a re morgage?

julieanne13

hi :-) i have just read about over charging for re mortgaging. i dont know if i have re morgaged!! haha. we have twice now paid £300 to have a fixed rate morgage for 3 years - is that one i can claim back on? thanks julie

Jonbvn

julieanne13 wrote: »

hi :-) i have just read about over charging for re mortgaging. i dont know if i have re morgaged!! haha. we have twice now paid £300 to have a fixed rate morgage for 3 years - is that one i can claim back on? thanks julie

Please read the article here. As per this article you may be able to reclaim mortgage exit administration fees (MEAF).

When you remortage, you usually have to pay various fees. You cannot reclaim these.

How on earth can you say you don't know whether you have remortgaged????

herbiesjp

Hi Julie

When you re-mortgage you change lender at the same time.

If you stay with the current lender, and go on to a new product, that is a product switch and not a re-mortgage

KentishLady

herbiesjp wrote: »

Hi Julie

When you re-mortgage you change lender at the same time.

If you stay with the current lender, and go on to a new product, that is a product switch and not a re-mortgage

generally the above is true, however they may be circumstances where you would re-mortgage with your current lender.

For example, the lender I work for, you have to re-mortgage if you are adding or removing a name from one of their flexible mortgage products (there are other circumstances in which an 'internal' remortgage would be necessary).

However, if the only fee you have paid is £300.00 I would think that you merely switched the rate - this seems like a reasonable fee to pay to book a new rate and arrange the switch.

julieanne13

thank you for your replys :-) yes i know i am thick! i took out an endowment and that isnt even going to cover a fraction of the morgage. then we bought another house and asked for it to be on repayment and didnt find out till years later that the extra we borrowed was on repayment the initial loan is still on endownment :-). we then had to borrow £25 grand in a rush and thats when we got a fixed rate morgage then that ran out and we paid again. we have been with C&G for 20 years and still owe a fortune and dont know how to begin to deal with it!! we just asked the girl behind the desk and that was it. sadly we are all not money minded. we have no credit cards though so no other debt - surley i should get a pat on the back for that guys? hah

thanks julie