Here is a list of charges you can reclaim. Remember different companies will give them different names.

late payment charges

Returned Direct Debit charges

Admin Charges for closing a mortgage.

Deeds dispatch fee

Penalty interest

You can not claim:-

Interest normally due on the mortgage.

Arrangement fees.

Solicitors fees.

Fees for arranging your own insurance.

Higher lending Charge.

Early redemption Charge.

Edited December 2010

Thanks for the many replies-as you can see,there has been some interesting challenges,so the above list should not be taken as set-in-stone.

Thanks for clarifying that - really helpful.

 

You can not claim:-

 

Early redemption Charge.

I have claimed an Early Redemption Charge (ERC) and had it fully refunded... shouldn't this be in the list of charges you can claim...?

That's interesting Undercover. Which mortgage provider was this?

Frustrated

Hi,

Question for Martin if you're available. You mention that Admin Charges for closing a mortgage are reclaimable. Because we redeemed a mortgage with Mortgages 2 Ltd early, we were forced to pay an "administration fee" of £14,000. I know this is an early redemption charge, but the bank itself does not call it this. Therefore isn't their admin fee reclaimable? I mean, I think I could argue this.

Frustrated

I am reclaiming, I have found that most of these companies try to settle out of court, I for one am willing to take it this far.

Thanx Martin..

Nice one. I'd be interested to learn of any other that have had joy with ERCs in particular with RBS?

Cheers

Does anyone know anything about actuarial interest? I was charged £15,421 by Blemain Finance over a period of 2 years on a £52000 loan and £3792 (6 month early repayment interest)

Hi,

Letting you know that, having taken Mortgages 2 Limited to court for penalties, broker commission and ERC, totalling £18,000, we have settled. Accepted £4,000 just before allocation questionnaires were due. I know this is not a lot, but I want to focus on my other case, against G E Money.

This does show, however, that Mortgages 2 don't really want to go to court. Our case, by the way, was based on a Mortgage in 1999.

Frustrated.

Hi,

 

Letting you know that, having taken Mortgages 2 Limited to court for penalties, broker commission and ERC, totalling £18,000, we have settled. Accepted £4,000 just before allocation questionnaires were due. I know this is not a lot, but I want to focus on my other case, against G E Money.

 

This does show, however, that Mortgages 2 don't really want to go to court. Our case, by the way, was based on a Mortgage in 1999.

 

Frustrated.

Sorry to post this here but I don't know how else to ask Frustrated, but I think Mortgage 2 LTd are connected to Mortgages PLC and I am interested in your case as that is who I plan to go after for arrears charges. I don't think they were my best option at the time I was put on to them, so would the broker have earny a fortune out of it? I suspect so, how did you find out the cost of the comission?

Any advice appreciated!

I took out a fixed combination mortgage with Abbey National in 1999. Fixed for 6 years with a £2200 cashback.

This was at a fixed rate of 6% + an additional 1.45% to cover the cashback. Total rate was 7.45%.

In March 2003 , i had to redeem the mortage as Abbey wouldnt offer me a remortgage.

I had to pay back the cashback in full , £2200.

I also had to pay another penalty at the fixed rate of 7.45% for a penalty period of 300 on a balance of £35570.59 = £2178.08.

There is a section saying penalty period above the 300.

What I am claiming is why have i got to pay the 7.45% over the period of 300 [doesnt specify as to days or months] .

I would have thought it sghould be at 6% for 72 months.

Just wandering if anybody can help me out here please.

Can interest be reclaimed if it was added to arrangement fees and maintenance vouchers? Someone has been charged a whack of interest by buy as you view (see here (last few posts on thread http://www.consumeractiongroup.co.uk/forum/brighthouse/178450-buy-you-view-but.html) If it can be done, what letter can be suggested do she can start to re-claim?

subbing with interest on this.

I've just recieved a refund for the MEAF but also have approx £2k of charges on a previous mortgage as well.

Are these mortgage fees subject to the stay on the bank charges???

Whats the best way to reclaim the mortgage fees???

Cheers

Hi,

Anyone know if I can reclaim any of these:

1) ERC - whereby new mortgage was taken with same provider? ERC wavied on previous mortgage with same lender as well?

2) Legal fee

3) Debt Counselling fee

4) Debt Counselling services

5) Personal secured loan charge for acting in this matter

6) Completion fee

7) Application fee

8) Sundries

9) payment option fee

10) discharge fee

11) Portable product additional borrowing fee

12) administration fee

13) arrangement fee

14) returned direct debit fee

15) arrears charge

16) solictors instruction fee

17) duplicate interim statement fee

18) insurance fee

19) discharge of mortgage fee

Please can anyone help!!!!

many thanks,

Bump!!

Hi,

 

Anyone know if I can reclaim any of these:

 

1) ERC - whereby new mortgage was taken with same provider? ERC wavied on previous mortgage with same lender as well?

2) Legal fee

3) Debt Counselling fee

4) Debt Counselling services

5) Personal secured loan charge for acting in this matter

6) Completion fee

7) Application fee

8) Sundries

9) payment option fee

10) discharge fee

11) Portable product additional borrowing fee

12) administration fee

13) arrangement fee

14) returned direct debit fee

15) arrears charge

16) solictors instruction fee

17) duplicate interim statement fee

18) insurance fee

19) discharge of mortgage fee

 

Please can anyone help!!!!

 

many thanks,

I'm surprised this thread has not developed further. Isn't this what CAG is all about?

That list by Emanevs is pretty exhaustive. Part of the problem is understanding the context in which a particular lender charges a certain fee. To generalise however, perhaps it should be re-organised into three categories of claim - YES, POSSIBLY and NO-WAY HOSE!

At a stab, I'd probably go with

YES:

12) administration fee

14) returned direct debit fee

15) arrears charge

POSSIBLY:

1) ERC

2) Legal fee

3) Debt Counselling fee

4) Debt Counselling services

5) Personal secured loan charge for acting in this matter

9) payment option fee

10) discharge fee

11) Portable product additional borrowing fee

17) duplicate interim statement fee

18) insurance fee

19) discharge of mortgage fee

NO-WAY HOSE!:

6) Completion fee

7) Application fee

13) arrangement fee

16) solictors instruction fee

I'm going to start a new thread about the decision I just received from the FOS, but thought I would stop by to say they have decided that I am NOT entitled to returned DD fees, arrears fees - except where my account was in credit, or brought up to date - a refund of solicitors fees where they cost less than GMAC had charged me, or any interest incurred by them adding this lot onto my balance.

Not a happy puppy! If anyone has any advice as to whether I should accept, please pop onto my thread re this, I'm going to title it Disappointing Mortgage Reclaim Outcome, and give your opinion as to what to do next.

Good luck to everyone still going through this!

W

Many on these Forums have warned about the conduct of the FOS in these matters so it's not surprising to hear them siding with "you know who" - disappointing as that may be.

The point is, the rulings by the FSA specifically relate to Mortgage accounts in Arrears and how lenders handle those charges and apply interest. The ruling by the SC re Bank Charges however is very narrow and is focused on current accounts of commercial banks NOT the general charges of other lenders e.g. mortgage charges.

The jury is still out somewhat as to what people should/n't be claiming regarding mortgages but the law is there for you to use if you want to pursue this. Many (including me) have had success with reclaiming some mortgage charges and others seem to have failed.

At the end of the day, thankfully YOU are not bound to accept the FOS decision and legal recourse remains available IF you are not happy with the way they conducted the matter. It may be that a court will take a much different view on your mortgage account charges if you go that route. It may also be that the lender in question will pay up after just the threat of court action or on receipt of initial court claim documents!

However, be warned that should you choose to go to court at this stage and the lender opts to defend, they may well cite the FOS ruling against your earlier claim so be prepared to argue against that possibility.

Can you post a link to your new thread?

Thanks, Bustthematrix. At the moment, I'm really ticked off, so I'm thinking I'm going to take further action - just have to do even more research now! Bleh! Lol!

Just noticed after I'd posted that earlier, they have added interest to the tiny amount they offered, but still been charged God knows how much interest on all of those arrears charges that were added to my balance.

My new thread is at : http://www.consumeractiongroup.co.uk/forum/mortgage-companies/255222-disappointing-mortgage-reclaim-outcome.html

Not too sure about links, to be honest, so I'm not sure if it'll work!

I'm surprised this thread has not developed further. Isn't this what CAG is all about?

 

That list by Emanevs is pretty exhaustive. Part of the problem is understanding the context in which a particular lender charges a certain fee. To generalise however, perhaps it should be re-organised into three categories of claim - YES, POSSIBLY and NO-WAY HOSE!

 

At a stab, I'd probably go with

 

YES:

 

12) administration fee

14) returned direct debit fee

15) arrears charge

 

POSSIBLY:

 

1) ERC

2) Legal fee

3) Debt Counselling fee

4) Debt Counselling services

5) Personal secured loan charge for acting in this matter

9) payment option fee

10) discharge fee

11) Portable product additional borrowing fee

17) duplicate interim statement fee

18) insurance fee

19) discharge of mortgage fee

 

NO-WAY HOSE!:

6) Completion fee

7) Application fee

13) arrangement fee

16) solictors instruction fee

A number of caggers tried claiming ERC in the early days of CAG and they lost, leaving them with massive costs.

http://www.consumeractiongroup.co.uk/forum/showthread.php?62003-~~~**IMPORTANT**-Mortgage-Claimants-~-PLEASE-READ-~~&p=523486&viewfull=1#post523486

We have no reason to believe things have changed.

post 19 - where can i find this ruling???

many thanks,

post 19 - where can i find this ruling???

many thanks,

Hi Emanevs

Here are a few links on the FSA stuff on arrears charges and refunds etc.

http://www.fsa.gov.uk/pages/Library/Other_publications/Miscellaneous/2009/mortgage_arrears_1/charges.shtml

http://www.fsa.gov.uk/pages/library/communication/pr/2010/013.shtml

http://capstonemortgageservices.wordpress.com/get-your-stolen-money-back/

http://www.myintroducer.com/view.asp?ID=3250&utm_source=Sign-Up.to&utm_medium=email&utm_campaign=191888-Breaking+12-04+4

http://www.mortgageintroducer.com/mortgages/237978/5/Industry_in_depth/FSA_fines_Redstone_Mortgages_Limited.htm

http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/7077994/FSA-cracks-down-on-mortgage-arrears-charges.html

http://www.mortgageintroducer.com/ccstory/236507/5/FSA_to_protect_those_in_arrears.htm

A number of caggers tried claiming ERC in the early days of CAG and they lost, leaving them with massive costs.

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?62003-~~~**IMPORTANT**-Mortgage-Claimants-~-PLEASE-READ-~~&p=523486&viewfull=1#post523486

 

We have no reason to believe things have changed.

Alrightie, so, ERC off the list then...it's long enough without ERC charges on it any way...

Here is a list of charges you can reclaim. Remember different companies will give them different names.

 

You can not claim:-

 

Higher lending Charge.

Hi Martin, I'd appreciate if you could clarify why you believe this cannot be claimed. I know a few people who are working on it at the mo. Thanks.