Mortgage Product Fees

alliepallie

I need some help from you mortgage experts!
2 years ago I switched products from an Alliance and Leicester fixed rate to another fixed rate deal with them. I was charged #749 product/arrangement fee- is this fair/normal practice?
Many thanks in advance for your advice
Allie
x

UK007BullDog

It's legal and you cannot claim.

dwsjarcmcd

Nothing you can do. Totally fair and totally normal. Sorry

dunstonh

2 years ago I bought a car. I have sold it and bought another one. Can I claim back the price I paid on the first one?

Or perhaps another way of putting it. I bought a tv from Currys three years ago. I want to buy another TV now so can I claim back the price I paid on the other one 3 three years ago?

_Andy_

alliepallie wrote: »

I need some help from you mortgage experts!
2 years ago I switched products from an Alliance and Leicester fixed rate to another fixed rate deal with them. I was charged #749 product/arrangement fee- is this fair/normal practice?
Many thanks in advance for your advice
Allie
x

Hi

If you'd have done a quick search of this forum you'd find this subject comes up every week.
In answer to your question, yes it is - why would you think otherwise? Clearly you were happy with it at the time or you wouldn't have gone ahead.

TwelfthMan

The claims culture of the UK never ceases to amaze me.

MarkyMarkD

To summarise the reasons for this, you had a deal with A&L which went on to a rate which you had agreed with them up-front.

You asked them if they would vary that rate, to another fixed rate, which would save you £000s over the fixed rate term.

They agreed, and said it would cost £749 to switch.

You agreed to the switch, and the fee, and you've saved £000s - £749 as a result of switching.

I can't imagine why anyone thinks that such a fee is unfair, or should be reclaimable. It is a fee you asked to pay, when you asked to switch products. End of story.

dmg24

Have we not got a sticky on this yet?!

We could do it Monopoly style - do not pass go until you have read the following?!! x

alliepallie

Pls be nice to all MoneySavers. There's no such thing as a stupid question, and even if you disagree courtesy helps.

_Andy_

alliepallie wrote: »

Pls be nice to all MoneySavers. There's no such thing as a stupid question, and even if you disagree courtesy helps.

Could you clarify exactly how anyone has not been courteous?

You asked a question (without bothering to use the search facility) and had it answered.

MarkyMarkD

It's a bit disappointing that when newbies come to the board, and ask questions which earn them answers which they don't like, they start quoting things like Martin's rules. As if we don't know those rules and, indeed, as if we haven't been following them.

Answering a question with "No, you can't claim" or "No, you can't claim, and here are the reasons why" is not being discourteous.

Saying "Yes, you're right, the world's crap and you can claim" when it's untrue would be stupid, and discourteous by virtue of being completely wrong.