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MEAF fee reclaim
Brokeandhappy48
Posts: 2 Newbie
Hi,
I am thinking about reclaiming my mortgage repayment fee from the Abbey. My question is, according to my original contract Abbey said they would charge a repayment fee of £225, this they did, so do I still have a hope of getting any money from them if I claim?
Regards
Brokeandhappy48
I am thinking about reclaiming my mortgage repayment fee from the Abbey. My question is, according to my original contract Abbey said they would charge a repayment fee of £225, this they did, so do I still have a hope of getting any money from them if I claim?
Regards
Brokeandhappy48
0
Comments
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Simple answer - no
If they'd have charged you more than £225 then yes, but as it stands they have done nothing wrongI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
If the charge matches the contract then its a fair charge. So, no you are unlikely to succeed in getting that back.
its where the charge has gone up from what it said on the contract where the FSA made it's ruling.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Why would you feel it's fair that you should be able to "claim" anything? Abbey charged you the amount you agreed to pay when you took out the mortgage. Paying any less than that would be unfair.0
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MarkyMarkD wrote: »Why would you feel it's fair that you should be able to "claim" anything? Abbey charged you the amount you agreed to pay when you took out the mortgage. Paying any less than that would be unfair.
I had thought, mistakenly, that the FSA were challenging the charge as well as the increase.
regards
0 -
Common misunderstanding, but no.
The FSA have explicitly said that lenders can charge anything they like, as long as it's agreed to up front by the customer.
There is no concept of an excessive fee here.0
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