Help! Mortgage arrangement fees

Obe_one_2

Hi everyone,

I'm after a little bit of help or advice.

I recently applied for a re-mortgage with Birmingham Midshires as our fixed rate offer runs out at the end of March.

The application was accepted but due to a number of issues caused by BM there was a huge delay in them receiving payslips I sent proving my income. Finally they received the required documents but I finished working for my old employer at the end of March when I started work with a new employer.

For this reason, even though I applied 3 months or so ago, they declined the application. The problem is they took a payment of £365 from me for what was described at the time as 'Mortgage Arrangement' fees.

Obviously I want this money back as they haven't provided the service they should have provided. The issue I have now however is that they are trying to claim this payment as 'non-refundable' and say it was to pay valuation costs.

Does anyone know where I stand on this?

Any help would be greatly appreciated!

dunstonh

Does anyone know where I stand on this?

A lot of lenders have a non refundable fee on application. It covers the administration and often the valuation (if applic). Usually you would expect it to say non refundable application fee or something similar. In fact, Just checked the "Important customer information" section and it says: "that the valuation fee will not be refunded once the valuation has been carried out."

BM are a non-advisary mortgage provider/broker provider. Your broker should make you are aware of non-refundable charges so you may wish to direct your comments to him/her. If you didn't use a broker then you take on responsibility for knowing what you are signing up to.