Deeds Release Fees - Can you beat £225 by NR?

Wee_Big_Man

In the process of calculating remortgage costs, Northern Rock inform me that they will want 'their final snack on my money' to the extent of £225. :-X

Is this the highest anyone knows of?

For what is essentially finding my deeds in the file and posting them to my solicitor I think this is plain wrong.

I understand that a lot of lenders don't charge anything or a 'nominal fee'.

So beware. If you take a lower up-front rate from our northern friends then add on the final sting of £225.

This is the thanks I get for 7 years of loyalty (insert stupidity here?) and avoiding a crippling 5% redemption tie-in...

payless

Believe A&L now at £295 !
Nationwide still don't charge, and there's a few around £50, but average seems to be £175

Wee_Big_Man

The fact that the lenders have never declared to me what the release fee is on the mortgage leaves the borrower exposed to all kinds of charges.

I asked NR why they don't publish or declare the charge and they said that it would be difficult to know what to charge in a few years time.

So without committing to a level of charge up front they can charge as a high rate as they like to make moving away more difficult. :-/

If only there was a way to lobby for a standard charge across lenders.

It really is a stealth charge isn't it?

payless

I assume when W B M used the term "deeds release"
he meant "account closing / deeds release/ sealing fee" when closing an account fully


The costs relating to temp release on "deedstore" may be on on totally different tariff

angela2095

Halifax charged me £50.