High Loan to Value Fee refunds

LizzyFinn2020

Interested to know whether we can claim back the "High Loan to Value" fee we were told we had to pay to secure our Abbey mortgage back in 2004? Any advice? Thanks x

HummingBird76

LizzyFinn2020 said:

Interested to know whether we can claim back the "High Loan to Value" fee we were told we had to pay to secure our Abbey mortgage back in 2004? Any advice? Thanks x

On what basis?

Old_Lifer

High loan to value means you were a higher risk.

dunstonh

LizzyFinn2020 said:

Interested to know whether we can claim back the "High Loan to Value" fee we were told we had to pay to secure our Abbey mortgage back in 2004? Any advice? Thanks x

No you cannot.   Why do you think you could?

ACG

Some lenders (usually smaller building societies) still charge these - or did until quite recently.

It was usually to pay for an insurance policy in case you defaulted. I suppose the alternative would have been a higher rate or an arrangement fee/higher arrangement fee instead. But as others have said, you can not reclaim this as it was disclosed and charged for a specific reason, I just wanted to add a little more meat to the bones.