Northern Rock "Help With Costs" repayment

whist

Northern rock have just informed me I have to pay back the £1000 "help with moving" costs as well as about £250 to transfer my mortgage deed to another lender . For the £1000 , this is because the date my fixed rate ends is different to that my "help with costs" fee ends. This is after telling me they cannot give me a competitive rate on a remortgage.

I have asked them to send me the paperwork for this because I cant recall the date the "help with moving" cost expires.

Regardless of whether or not the dates are different, has any one succesfully argued against this fee given they have basically told me to move my mortgage.

I am thinking of first writing to them to complain about the unfairness of this and then writing to the FSA.

THe second payment which is to transfer the deed, is this not the exit fee we are being adviced to reclaim . DO people have to pay to transfer their deed to another lender?

minimike2

You probably wont get anywhere. The help with costs usually lasted a year longer than the ERC of the product. You should dig oyu your original offer letter and refer to it to see if you have any chance of getting this back from them.

tylersbabe

minimike2 wrote: »

You probably wont get anywhere. The help with costs usually lasted a year longer than the ERC of the product. You should dig oyu your original offer letter and refer to it to see if you have any chance of getting this back from them.

I too have a NR mortgage that offered £1000 help with costs, this can be clawed back upto 6 months after my fixed rate finishes.
Have just checked and this is clearly stated on my original mortgage offer, I was aware of this when signed for mortgage but was happy to go ahead at that time.....doh. Ain't hindsight wonderful .
Sorry of no practicle help, Good luck

Dan_Collins_2

They have changed the date many times over the last few years. Some finished before the date some on it but mainly after.

Its all in the KJFI and offer so if you did not read it correctly then tough.

ILoveChristmas

Dan_Collins wrote: »

Its all in the KJFI and offer so if you did not read it correctly then tough.

Yuk - what a horrible reply.

Take no notice OP. Go on the thread for NR deals coming to an end and you will see there is someone there who successfully challenged NR's refusal to repay the help with mortgage costs.

Best of luck to you.

ILC x

xSteve_2

I've got this too, I'll check the thread out

Dan_Collins_2

ILoveChristmas wrote: »

Yuk - what a horrible reply.

Take no notice OP. Go on the thread for NR deals coming to an end and you will see there is someone there who successfully challenged NR's refusal to repay the help with mortgage costs.

Best of luck to you.

ILC x

Sorry was not being rude, that is how it is.

NR clearly state its T&C's in all documentation. Its not a new product.

People are happy to take the £1000 until they have to give it back. Sorry if I offended anybody but it is simple.

MarkyMarkD

ILoveChristmas wrote: »

Yuk - what a horrible reply.

Take no notice OP. Go on the thread for NR deals coming to an end and you will see there is someone there who successfully challenged NR's refusal to repay the help with mortgage costs.

Best of luck to you.

ILC x

The bold bit is my emphasis. It would help if you got this the right way round. You mean "who successfully challenged NR's demand for the repayment of 'help with mortgage' costs".

It's the customer who was supposed to pay the costs back, not NR.

Whatever the merits of the individual case you refer to, there is no general reason why NR customers should be exempted from the terms they signed up to.

xSteve_2

What thread is this on, this one?
http://forums.moneysavingexpert.com/showthread.html?t=752815

Any idea where abouts, its pretty huge..

MRSTITTLEMOUSE

A relative had help with costs and even though they stayed with Northern Rock,they still had to pay it back when they changed fixed rates with them.

_Andy_

whist wrote: »

Northern rock have just informed me I have to pay back the £1000 "help with moving" costs as well as about £250 to transfer my mortgage deed to another lender . For the £1000 , this is because the date my fixed rate ends is different to that my "help with costs" fee ends. This is after telling me they cannot give me a competitive rate on a remortgage.

They don't have any obligation (nor does any mortgage provider) to offer a 'competitive' rate/

I have asked them to send me the paperwork for this because I cant recall the date the "help with moving" cost expires.

Regardless of whether or not the dates are different, has any one succesfully argued against this fee given they have basically told me to move my mortgage.

I am thinking of first writing to them to complain about the unfairness of this and then writing to the FSA.

No point taking this to the FSA - NR are quite within their rights to exercise the T&Cs of the mortgage contract that you agreed to.

THe second payment which is to transfer the deed, is this not the exit fee we are being adviced to reclaim . DO people have to pay to transfer their deed to another lender?

Yes if this was noted on your original KFI/offer letter (which it would have been). Again, this was something you agreed to yourself when you took the mortgage up.