Mortgage Exit Fees successes and failures
Comments
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Hi,
I recently wrote to Abbey to reclaim MEAF, they informed me they do not hold records longer than 5 years so could not find my mortgage. I sent them all the details of the mortgage names address' I even sent them a copy of the mortgage application. They wrote again and said they could not find me! It was almost 10 years ago, is this right? I know banks only hold customer information for 6 years BUT they can still find customers on their systems from the day they first opened their accounts, should I persue it? I do not have the mortgage account number and closed my Abbey account when mortgage redeemed.
Please advise me futher
Essexgirl10 -
I phoned NatWest and they are going to refund £140 within 10 working days.0
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There's no obligation on lenders to keep records for more than 6 years and there's no legal way to enforce any repayment in respect of a mortgage redeemed over 6 years ago.Essexgirl1 wrote: »Hi,
I recently wrote to Abbey to reclaim MEAF, they informed me they do not hold records longer than 5 years so could not find my mortgage. I sent them all the details of the mortgage names address' I even sent them a copy of the mortgage application. They wrote again and said they could not find me! It was almost 10 years ago, is this right? I know banks only hold customer information for 6 years BUT they can still find customers on their systems from the day they first opened their accounts, should I persue it? I do not have the mortgage account number and closed my Abbey account when mortgage redeemed.
Please advise me futher
Essexgirl1
Furthermore, all lenders' MEAFs were tiny amounts 10 years ago so any amount you could reclaim must be trivial.
I think you should move on.0 -
We moved house 4 years ago, looked at what we paid out to change our mortgage. Paid £75 should of been £40, £35 difference no quibbles just sent us the cheque, better in my pocket than theirs.:beer:0
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Well a massive thank you to Martin and this forum.
I called the Woolwich/Barclays dedicated line today after they ignored my letter. I moved from them nearly three years ago and called with my ref number and address.
A very helpful chap told me that I'd been originally quoted a fee of £50 and actually charged £195.
He took my bank account details and is sending £161.49 within five working days (includes interest at 4%) :money:0 -
Having read your article last night and then all the success stories on the forum I decided to give it a try as I have re-mortgaged several times over the last ten years. I called the Halifax first but didn't have the roll number for my mortgage and was told as it was an old policy (I took it out in 1997) they couldn't find the details using my name alone and that I would have to go into a branch with some proof of ID to get my roll number. Bit of a hassle I thought so I decided to call the Insurance Company I had an endowment with on this policy and they were able to give me the number in seconds. I called back the Halifax and am now getting a £35 refund - result 1!
I then called the Woolwich and within 2 minutes was informed I will be getting a £51 refund paid into my bank - result 2!
Not bad for 5 minutes worth of phone calls!
I have also written a letter to Nothern Rock today to see if I qualify for a refund with them - hopefully - result 3!
On another thread I have also written to GE Capital Bank re the PPI I had with them on a Debenhams Store Card - maybe result 4!
Thank you Martin for your help and this website, it's fantastic!!! :T0 -
I redeemed my mortagage with the C&G in January this year, I was charged £225 exit fee, thanks to your advice I have just received a refund of £47, every little counts!0
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I got my first mortgage in January this year for 95K on a interest only 2 year fixed rate 5.49, over 35 years.
A few months later I was diagnosed with testicular cancer and as I had got a critical illness policy I was paid the balance of my mortgage.
Problem is I dunno what the best option is!
My mortgage company charges 5% for paying it off ....unless i pay off only 10% a year so I could pay off 10% now 10% in march and then wait 12 months to be at the end of my 2 year fixed rate but after working out the interest this would be roughly the same as if I just paid it off now and paid the 5%
Also cannot put it in savings as it doesnt work out that much better.
Ideally I want to pay off about 80K and have some money to spend on getting myself back on track but this would cost me approx 3500 to pay off then of course Im not sure how the remaining money would work? would they let me pay the rest on a shorter term? and would they let me change it to repayments?
Or do I pay off the balance in full pay the 5% then just set up a new mortgage (that would take time) for the 15K ish ?
so confused! if anyone knows any good way out of this or recoommmend anything?
Thanks
M0 -
Just moved house at the end of September and phoned the Halifax for the £150 they have charged me for the exit fee and they said no we do not refund this now, there has been a change? can anyone help?:eek:
[EMAIL="philipcrolfe@hotmail.com"]philipcrolfe@hotmail.com[/EMAIL]0 -
Just made a less than 3 minute call to the Woolwich (ok Barclays then!) and the nice young man is going to pay £98.81 into my bank account within the next 3-5days ..... and .... it was a free phone call!!!!!!!!!! :j :T
:money: ...... Martin I love you!!!!!!!!!!!!!!!! Mwaaah!! :beer:
PS: Isn't it funny how when we are getting something it's always .... "a nice young man" ..... but when we don't it's .... "some little snotty nose youngster just out of nappies" ...... or words to that effect!!!!!0
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