Anyone got their 6+ year old MEAF back?

angelavdavis

I bought my original house from Cheltenham and Gloucester in 1996 and switched mortgage in 1999 when my pay structure changed and I could go for a flexible mortgage.

I am guessing I got charged by C&G in 1999 (haven't yet checked tbh), has anyone got any of their MEAF back if it was over 6 years ago?

Just curious.

Thanks

Retired_I.F.A.

What's a MEAF ?

m_c_s

Retired_I.F.A. wrote: »

What's a MEAF ?

LOL and you used to be and IFA...says a lot.:rotfl: :rotfl: :rotfl:

silvercar

I got one back from 2000.

dunstonh

He hasnt been an IFA for a while though and the MEAF phrasing is quite new.

Most of the redemtion charges didnt start increasing by much until around 2001. Its possible that there was increases but if there was they are likely to be small.

angelavdavis

Thanks everyone for providing this info. I will give them a ring on the basis "nothing ventured, nothing gained"!!

Merlot

What's a MEAF ?

m_c_s wrote: »

LOL and you used to be and IFA...says a lot.:rotfl: :rotfl: :rotfl:

:rotfl: :rotfl: :rotfl: Retired I.F.A , may I suggest you read Martins Articles.:D

Retired_I.F.A.

Yeah I read it about an hour ago but forgot to post.

I'm wondering now though is it technically a Martin Lewis phrase as I've never heard of it called or seen it in writing as anything other than a mortgage redemption fee or a mortgage discharge fee. Which as far as I know in English is the correct decription as you exit a room not a contract.

I think £20 - £25 was the norm about 6-7 years ago the last time I did a motgage. Ten years ago I used to point out that once a mortgage was finished it was advisable to leave a small balance rather than have the deeds as it'd cost more to keep them securely but that was before folks switched from deal to deal so pointing out the charge became that bit more important.
S'pose it's a fatal mistake nowadays to not point it out to a client as mortgages are now regulated.

Merlot

Retired I.F.A, I've just googled MEAF, it did come up with a number of websites regarding mortgages exit fees, as mentioned earlier in this thread, it may have come about since you retired. It just goes to show not everyone knows everything!:D

Retired_I.F.A.

I know one thing... The amount of abbreviations used by folks on this site is amazing, I need lessons I think from a 10 year old who texts messages on a phone.

The first lesson l learned in this game was to talk plain english to joe public sod the pp/ra/epp/furb/ssas it's your retirement plan.

Members here are confusing me with OP OH DH etc etc I 've got a sticky note on my screen now to translate the gobblygook.:D

Retired_I.F.A.

Just found this....

13 July 2007
Breaking News
C&G scraps MEAF


Cheltenham and Gloucester (C&G) is scrapping its £225 mortgage exit administration fee (MEAF) for any new lending.

The move follows a review of the firm’s fee structure and C&G said it may be followed by further changes in the near future.
The lender also said that all applications on current rates must arrive at C&G by the end of 16 July.


£225 !!!!! kin ell,
That's what you got for killing off mutuals with your carpetbagging mr Joe Public.