fees on refinancing a loan????

queen_of_leon

hello again
does anyone know for sure if banks are allowed to charge u a settlement fee just for refinancing a loan? (ie the same loan at a lower rate...which they offered me,i didn't ask first...but they did give me a new loan agreement number)

my convo with the loan advisor went something like this:-

me: i was told by my bank manager last week (face to face) that they didn't charge you for refinancing

ltsb: no they don't

me: well i have been charged

ltsb: hang on i'll check....oh yes they do


so is this legit or do i complain and reclaim?
ta in advance

dannynixon

Do your t&c's state that you are charged an early settlement fee?

queen_of_leon

dunno yet...it's actually a query on an old loan but i brought the subject up in a recent meeting with my bank manager. i've requested all the info from the bank and i'm waiting for their response.
suppose i'll have to wait and see...it's just a shame you don't get the same answer from different people within the same bank, eh?

dannynixon

Aye, they will tell you anything to sell it to ya, lol. Probably trying to hit targets etc. Let me know what is what when your info turns up?

queen_of_leon

cheers dan...will do : )