NEW Mortgage Exit Fees Discussion

Scott · 9 August 2007 at 6:52PM

Fees to take a new rate are not MEAFs, so they aren't included in the scope of this thread, and aren't refundable.

MarkyMarkD · 9 August 2007 at 9:40PM

davew84 wrote: »

All

Just spoke to Barclays on number provided on this site 10 minutes later I am £114 better off

Original fee £95
Fee at close £195
Interest accrued £14

Is it worth pursuing for whole £195 or am I being greedy. Is this standard practice for refunds with all the lenders.

Thanks

You originally agreed to pay £95, and that's what you've now paid. Asking for any more is being greedy.

akery · 9 August 2007 at 11:29PM

Halifax

I redeemed my mortgage with HFX in 2003 and was charged a Mortgage Discharge Fee of £75 and Deeds Despatch Fee of £50.

I'm trying to reclaim both these fees (£125) as a MEAF, but am having difficulty. Their first letter said they'd like to refund the fee in full as a gesture of goodwill, but have offered me only £35!

I don't know where this fee came from - perhaps it's the difference between the £75 MDF I was charged and what they now perceive is a reasonable amount for MDF?

Their second letter does not increase their offer and actually says that they’re unable to refund my DDF (although they haven’t said this is because it's outside the scope of the FSA ruling).

I'm reluctant to accept their £35 offer and would like to know:

a) is the Deeds Despatch Fee definitely refundable as it's part of my MEAF
and
b) am I entitled to a full refund of my Mortgage Discharge Fee

Many Thanks.

Pete

akery · 9 August 2007 at 11:36PM

I redeemed my mortgage with HFX in 2003 and was charged a Mortgage Discharge Fee of £75 and Deeds Despatch Fee of £50.

I'm trying to reclaim both fees (£125) as a MEAF, but am having difficulty. In their first letter, they said that they'd 'like to refund the fee in full as a gesture of goodwill', but they offered me only £35!

I don't know where the figure (£35) came from - perhaps it's the difference between £75 (the MDF I was charged) and what they now perceive is a reasonable amount for this?

I wrote back specifically asking for £125, but their reply doesn't increase their offer and actually says that they're 'unable to refund my DDF' (although they haven't said this is because it's outside the scope of the FSA ruling).

I'm reluctant to accept their £35 offer and would like to know:

a) is the Deeds Despatch Fee definitely refundable as it's part of my MEAF
and
b) am I entitled to a full refund of my Mortgage Discharge Fee

Many Thanks.

Pete

far · 10 August 2007 at 4:13PM

My parents are attempting to reclaim the MEAF charged by Britannia in March 2003 but have no idea what the charges were. A helpful call to a lady on the Britannia number given in the main article on Tuesday resulted in her saying to them that they will check if they were charged an exit fee and, if so, this will be refunded and we should hear from them inside 5 working days. Today however they have sent them a letter saying their complaint has been sent to the complaint department and will be dealt with in 4 weeks so it looks like there might be a bit of a fight on their hands proving what was charged. Unfortunately they can't find any documentation relating to the final charges of their mortgage so does anyone have any ideas what they charged in March 2003 and has anyone had partial or full success reclaiming it back?

MarkyMarkD · 10 August 2007 at 11:24PM

akery wrote: »

I redeemed my mortgage with HFX in 2003 and was charged a Mortgage Discharge Fee of £75 and Deeds Despatch Fee of £50.

I'm trying to reclaim both fees (£125) as a MEAF, but am having difficulty. In their first letter, they said that they'd 'like to refund the fee in full as a gesture of goodwill', but they offered me only £35!

I don't know where the figure (£35) came from - perhaps it's the difference between £75 (the MDF I was charged) and what they now perceive is a reasonable amount for this?

I wrote back specifically asking for £125, but their reply doesn't increase their offer and actually says that they're 'unable to refund my DDF' (although they haven't said this is because it's outside the scope of the FSA ruling).

I'm reluctant to accept their £35 offer and would like to know:

a) is the Deeds Despatch Fee definitely refundable as it's part of my MEAF
and
b) am I entitled to a full refund of my Mortgage Discharge Fee

Many Thanks.

Pete

You're not entitled to a full refund of anything.

If the DDF hasn't changed over time, no refund is due.

But if it has, it's part of the MEAF and the same applies to it as any other part of the MEAF - you should pay what you originally agreed.

DeeLee_3 · 11 August 2007 at 9:51AM

This morning we received two letters in the post. To give a brief history, my partner was with Northern Rock for eight years when she lived in her own property and, moving in together, we stuck with Northern Rock for three further years before moving mortgage lenders.

Seeing Martins information on Mortgage Exit Fees, we followed Northern Rocks instructions and sent letters, with the different account numbers on (one for the joint and one for hers on her own). The letters we received back say that they will refund £75 for the difference of the £175 first quoted and the £250 final payment on the joint account, but my partner's lettter for her own, says she will get nothing due to "clearly and unambiguously notified of the fees involved when changing products". They also quote that the Discharge of Mortgage Fee is only charged if you move lenders or move property. In that instance, she DID move properties and had a joint account after that, so in theory her mortgage was 'exited' before the new one was created under a new account number. That surely means she should be entitled to something? Not only that, Northern Rock are only giving a 10 day window to respond or we get nothing!

Should we dispute this? Should we go 'militant' and try and claim it all back in both instances, being that £175 is rather an extortionate cost?

Any help would be appreciated.

DeeLee

dunstonh · 11 August 2007 at 10:29AM

Should we dispute this? Should we go 'militant' and try and claim it all back in both instances, being that £175 is rather an extortionate cost?

Why should you dispute a charge that was disclosed before you took the mortgage out?

You have no grounds for claiming it back.

MarkyMarkD · 11 August 2007 at 9:32PM

I think that what they are saying is that your partner actually changed products once or twice during her 8 years with NR, and that the fee she paid was therefore equal to the amount due at the time of her most recent product switch.

In which case nothing is due to be refunded.

kymrob · 12 August 2007 at 2:00PM

don't know if i can claim
moved 3 years ago repayed old mortgage got a new one.
old mortgage was fixed rate had to pay few hundred to get out of the fixed rate. is this the same thing?

NEW Mortgage Exit Fees Discussion

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