Reclaiming bank mortgage exit fees

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pepperpop
pepperpop Posts: 37 Forumite
in Reclaim mortgage fees, council tax, etc
I have had a number of mortgages over the years and was wanting advice on reclaiming mortgage exit fees;

The first one I looked at is my previous mortgage because I had the account number for that, I queried with The Woolwich and they said that they couldn't tell me what is was without me phoning but said there chart recommended a fee of £80 for when I had my mortgage. I eventually got hold of them on the phone and they said I was charged £275. and that was the figure that was on my mortgage application that I signed. Anyway as I understand these charges are way to high. Am I in a position to reclaim some of this fee?

Thanks for any advice:)

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  • John-K_3
    John-K_3 Posts: 681 Forumite
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    What are your grounds for saying that you should have them back? They were exactly what you agreed when you entered the deal, so why, after the event, are you now saying that they were too high?

    For comparison my exit fees today would be £10,000.
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
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    pepperpop wrote: »
    I have had a number of mortgages over the years and was wanting advice on reclaiming mortgage exit fees;

    The first one I looked at is my previous mortgage because I had the account number for that, I queried with The Woolwich and they said that they couldn't tell me what is was without me phoning but said there chart recommended a fee of £80 for when I had my mortgage. I eventually got hold of them on the phone and they said I was charged £275. and that was the figure that was on my mortgage application that I signed. Anyway as I understand these charges are way to high. Am I in a position to reclaim some of this fee?

    Thanks for any advice:)

    You are not in any position whatsoever to get the fees back - sorry.
  • dunstonh
    dunstonh Posts: 116,371 Forumite
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    Anyway as I understand these charges are way to high.

    There has never been any ruling on the size of the fee. The whole thing is based on whether it changed between exit and when you signed your last contract. (last contract being key as if you bought a new deal but stayed with the same lender, the contract for the new deal took over).
    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.
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