We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Money grabbing barstewards!

Cinders1973
Cinders1973 Posts: 1 Newbie
in Mortgages & endowments
I can't believe the cheek, I want to pay a small sum of an additonal loan on my mortgage, so I phone up today to do this and I'm told that I have to pay £10.00 for the privilege - admin charge apparently! I'm totally incensed - C&G robbing swine!

Comments

  • maninthestreet
    maninthestreet Posts: 16,127 Forumite
    Part of the Furniture
    Check the terms and conidtions of your mortgage to see if this charge is mentioned or not.
    "You were only supposed to blow the bl**dy doors off!!"
  • allan673
    allan673 Posts: 1,213 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    your right, its a total rip off, but they can charge this if its in your illustration.
    im with first direct now, no charges at all and i can make unlimited overpayments.im impressed with them.
  • Kez100
    Kez100 Posts: 2,236 Forumite
    My offset is set up to be free for all overpayments options - lump sums, higher payments each month but with only three free reductions, capital withdrawels, or holidays each year - then there is a £15 charge per change.
  • dunstonh
    dunstonh Posts: 121,109 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    The charge is in the T&C and to be honest does seem fair. Mortgages are not designed for people to run them like current accounts unless you take out a flexible mortgage.
    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.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 353.9K Banking & Borrowing
  • 254.3K Reduce Debt & Boost Income
  • 455.2K Spending & Discounts
  • 246.9K Work, Benefits & Business
  • 603.5K Mortgages, Homes & Bills
  • 178.3K Life & Family
  • 261.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture