Mortgage Product Fees

Noz

A mortgage FAQs would be good. Even if there are new threads made about items contained in the FAQ then a simple c&p of the URL would suffice as an answer.

neverdespairgirl

worcester1 wrote: »

Millions of pounds have been claimed back in unfair bank charges – this coupled with the recent credit crunch still has not stopped banks declaring billions of pounds in profit.

worcester1 wrote: »

The bottom line is that a lot of people have managed to claim back these charges – what does that tell you? Eeeemmmmmmmm the charges are not righteous and are illegal.

The High Court test case hasn't yet been concluded - it may well be that the charges are not deemed to be unlawful.

worcester1

I agree with Noz and Trying to be good. Although Noz branded my previous reply as "rubbish" LOL

I personally think that it's getting bit OTT with more and more people claiming against these charges. Having said that I cannot stand people who argue in favour of the banks and have go at the minority of consumers who try to claim.

Blame the stupid system! This is a consumer board! Not the Banking industry board!

worcester1

neverdespairgirl wrote: »

The High Court test case hasn't yet been concluded - it may well be that the charges are not deemed to be unlawful.

It may not be unlawful - but it's certainly excessive. The crystal ball tells me that the charges will be reduced from >£28 to about a fiver.

dunstonh

I personally think that it's getting bit OTT with more and more people claiming against these charges. Having said that I cannot stand people who argue in favour of the banks and have go at the minority of consumers who try to claim.

You will find many of us on this thread highly critical of some of the things the banks do. However, there is no point in criticising them for criticism sake.

In this area they are not wrong.

It may not be unlawful - but it's certainly excessive. The crystal ball tells me that the charges will be reduced from >£28 to about a fiver.

I dont think there will be much difference. Banks have already started to repackage their charging structure and rephrasing the charges to be service charges rather than penalty fees.

worcester1

dunstonh wrote: »

You will find many of us on this thread highly critical of some of the things the banks do. However, there is no point in criticising them for criticism sake.

In this area they are not wrong.




It's a matter of opinion - I think both Banks and consumers are wrong! Or at least the system is.

Yet still it’s a free world and people can agree or disagree.

It does not matter how they rephrase it – the consumer will simply challenge this if even the minority feel it’s still unfair.

Why can't Banks lobby the OFT/FSA/Parliament for all parties concern on what they can and not legally charge us? This way we can all know where we stand and move on.

Regardless any ruling on the bank account charges case, consumers will find another charge to contest- so yet another court case.

All current charges need to re-examine and a decision made on them once and for all.

jem16

worcester1 wrote: »

At the end of the day – you can’t measure everyone with your righteous yardstick. Lucky you – you are so organized and careful to read everything before signing on the dotted line. You never go above your current account limit because a) you’re financially more secured and manage your budget better than the average Joe. A blue Peter badge it’s on its way to you.

I don't have a righteous yardstick.

What I do have is the old-fashioned value of not spending what you don't have and expecting everyone to clear up your mess for you. For a long time I managed to run a household and bring up two children on one wage. I had to carefully waitch every penny. If I couldn't afford it, I did without.

I did manage to incur a charge years ago by simply forgetting to transfer funds from one account to the other. However I accepted it as my mistake and did not bleat about it afterwards.

Yes I am financially secure at the moment but only because I managed my budget properly in the first place.

dunstonh

It's a matter of opinion - I think both Banks and consumers are wrong! Or at least the system is.

Ok, if you think it is wrong, how would you finance a fixed rate mortgage if you were a lender?

worcester1

jem16 wrote: »

I don't have a righteous yardstick.

What I do have is the old-fashioned value of not spending what you don't have and expecting everyone to clear up your mess for you. For a long time I managed to run a household and bring up two children on one wage. I had to carefully waitch every penny. If I couldn't afford it, I did without.

I did manage to incur a charge years ago by simply forgetting to transfer funds from one account to the other. However I accepted it as my mistake and did not bleat about it afterwards.

Yes I am financially secure at the moment but only because I managed my budget properly in the first place.

Not everyone jem16

people do fall ill, relationship break-up, lose their jobs and many other unforseeable events all of which can result in;

a) not able to meet their payments
b) accounts resulting in default

Now what these people need is not having extra charges added to their accounts and their debts excalating.

For such reasons these charges are unfair - Whilst you may be able to ignore a single charge years ago - these unfortunate people cannot.

So what do you suggest they do when the system allows them to reclaim these charges to offset against their total debt owed.

Get off your high horse lady, that rosy smell in your world does not extended to every other person's world

dmg24

worcester1 wrote: »

Not everyone jem16

people do fall ill, relationship break-up, lose their jobs and many other unforseeable events all of which can result in;

a) not able to meet their payments
b) accounts resulting in default

Now what these people need is not having extra charges added to their accounts and their debts excalating.

For such reasons these charges are unfair - Whilst you may be able to ignore a single charge years ago - these unfortunate people cannot.

So what do you suggest they do when the system allows them to reclaim these charges to offset against their total debt owed.

Get off your high horse lady, that rosy smell in your world does not extended to every other person's world

I don't think jem16 lives in a rosy world, I think she lives in the real world.

Did the bank make people fall ill, or break up a relationship? Life circumstances do not make the charges unfair!