Early Mortgage Repayment Fees

Gareth_Plant · 6 June 2009 at 12:05PM

Hi,

I've been reading the forum about mortgage exit fees however was interested to know whether you can claim back mortgage exit fees charged for repaying a mortgage in a fixed rate period.

We was sold a mortgage by a broker and subsequently sold the house in the the 'fixed rate period' the mortgage company on top of the mortgage repayment charged us nearly an additonal £2,000 (three months interest). Can anyone advise me on whether i can claim this back as being an unfair charge?

Just to clarify upon reading the lengthy terms and conditions it was stated! It has taught me a lesson if nothing else.....read the bloody small print!!!!

dunstonh · 6 June 2009 at 12:36PM

these charges are in place to cover the lender for the costs they would have to pay if you choose to redeem early. They are considered fair and acceptable. If you pull out the lender still has to pay the investors or pay them a penalty for you pulling out.

It has taught me a lesson if nothing else.....read the bloody small print!!!!

How aboout just read the simple key feature illustration. Its not small print. Its not hidden. Its just about as clear as it can be. The tie in is also on the contract offer letter. So, again, it doesnt take much to read it.

Early Mortgage Repayment Fees

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