Mortgage Exit Fees successes and failures

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Comments

  • Rachel I think you should, coz as I understand it, it's exactly what youre entitled to. £95 is better in your pocket well done
  • Hi - I have just made a phone call to the Woolwich to find out about any refund due from our redemption fee paid in Dec 06. I'm glad to say that without any hassle I am due to receive £125.70 (£125.00 +.70p interest)for this PLUS - I hadn't realised this, but as we did a "top up" with them in DEC 03 we are also due £55 plus £6.70 interest for this also.

    :j
  • I am lucky enough to pay my mortgage with the Halifax some 10 years early. Shock and horror they want £175 for the honour. So my little brain got to work and for £10 I've changed the term of the mortgage from the original 25yrs to one month and as such now do not have to pay the early repayment fee.

    At least I've saved £165
  • MikeJ37
    MikeJ37 Posts: 13
    First Anniversary Combo Breaker
    Forumite
    Just phoned Cheltenham & Gloucester and they offered refund of additional amount plus interest straight away.:rotfl:
  • floogy99 wrote:
    Just called the Halifax and asked them about my repayment fee.
    Thanks for your post, floogy. I've also just redeemed a Halifax mortgage and so following your experience I decided to call them today. They are obviously on the ball with this issue as there is a dedicated option on the telephone system menu when you call.
    floogy99 wrote:
    I settled my mortgage last week and was charged £175.00 repayment & £50.00 despach fee.
    I was only charged the £175 as I think the deeds were passed to my new lender electronically.

    Like you I wasn't sure what the fee was when I took out the mortgage in mid-2004 but the CSA reckoned it was £100 which sounded about right to me. She said an investigation had been logged and all being well I should receive the difference of £75 by cheque within 28 days.
  • Just about to remortgage (having used excelellent L&C as recommended by this site)from Coventry BS to Bank of Ireland.
    They have put up their exit fees by £100 since 2003. I sent a letter on Saturday asking to pay the original fee quoted, of £95,in light of the FSA ruling.
    Heard today they have agreed- just like that.Wow.
  • chivers1977
    chivers1977 Posts: 1,499 Forumite
    C&G just agreed!

    I work for the Woolwich and know that everyone who calls in will have the difference refunded plus interest and payment will be made by CHAPS.
    There are times when parenthood seems nothing but feeding the mouth that bites you Peter De Vries
    Debt free by 40 (27/11/2016)
  • I searched and searched for my old documentation for my old mortgage which I finished in 2000 and couldn't find anything other than the roll number.

    So I rang the Halifax to ask for a copy of the closing statement expecting to have to fight for it.

    As mentioned earlier, they are already on the ball - there is an option on the phone dedicated to the process.

    I spoke to a helpful young man there who looked everything up for me and 10 minutes later I put the phone down with a promise of £75 cheque in the post.

    Thanks Martin.
  • JBEILBY
    JBEILBY Posts: 42
    Mortgage-free Glee!
    Forumite
    Have just had my annual mortgage statement from Britannia which shows they have increased the discharge fee from £75 to £125 (and it's per account) but there does not seem to be any explanation in the paperwork I have received that justifies the increase. Sorry to be a bit confused here but is the discharge fee the same as the exit fee? I have to search out past paperwork to see if they can do this and am interested as to whether I should challenge this now - I only have 5 years and 8 months left to go.
  • We remortgaged in July 2006 having been with Halifax plc since Nov 2001.(Thanks Martin, thanks L&C – you’ve been saving us £50 a month in mortgage payments since then!)

    Our contract with Halifax plc when we took out the mortgage stated a “Mortgage Discharge Fee” of £75 I]Ref. Mortgage Fees Leaflet [U][COLOR="Red"]1/321715-0 (9/01)[/COLOR][/U] published by Halifax[/I. The exact wording on this leaflet (I presume published Sept 2001) is: “Mortgage Discharge Fee (waived if the mortgage account has been open for ten years or more or if the mortgage has run its full term if less than ten years): £75”.

    (For info the deed transfer fee then was given as £50, just as it is now…).

    We too were charged a repayment administration fee of £175 when we ditched our expensive Halifax mortgage last July so I’ve just written to request my £100 back PLUS INTEREST. Hopefully the above reference to the Halifax leaflet may be of assistance to others in their claims – Good Luck! (It already makes me feel better after they've been ripping us off for so many years with high standard variable rates)...
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