Reclaiming mortgage early redemption fee

mrdavidcwalker

I lost my job some time ago and recently sold my flat as I could no longer afford to pay the mortgage instalments. The bank were aware of my financial situation but would not allow a payment holiday. Upon the sale, the bank charged £4K early redemption fee to repay the mortgage. I was not made aware of this beforehand and, in fact, it was only after the sale I was aware the early redemption charge on the redemption statement (this was sent to my solicitor and not to me).

Does anyone happen to know if I can reclaim the mortgage early redemption fee charged, please? Any pointers gratefully received.

Thank you. 

dunstonh

Does anyone happen to know if I can reclaim the mortgage early redemption fee charged, please?

Almost certainly not.

And you were aware of it.  It would have been documented in the mortgage offer letter you signed.  All mortgages since 2004 have it required to be detailed in the key features illustration.    You probably forgot about it but it almost certainly is present.

it was only after the sale I was aware the early redemption charge on the redemption statement (this was sent to my solicitor and not to me).

The solicitor requests it and notifies you of the figure.  However, annual mortgage statements usually include it as well (although that is more recent thing that started a few years back).