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Need a little advice here.

Redeemed motgage (2nd charge) with Swift last year. upon opening the account the Admin fee was £165. When we redeemed the account, the admin fee was £250.

 

We wrote to Swift who replied inaccurate data, waffle and bluster, (quoted us being in arrears - which has since been rescinded) and more importantly stated that they had reduced exit fees to include sealing fees etc, and that a charge of over £300 would have been payable if we had the original costs handed down, so £250 was fair.

 

when we redeemed, the quote was specific in adding "Admin fees £250" to the amount owed, it didn't quote zero for other sundries, nor have we been notified of any changes....their tariff sheet also says that they can waive or reduce their fees as they wish.....

 

any opinions - is it worth pursuing, or are these catch-pennies not wrth the effort?

Halifax - paid out without getting to court - £250 WON - no intention of going, stated too costly!!

Halifax no 2 account - paid out without a fight - (by mistake, £1650 - should have been £1200 - had to pay some back)

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Is it the product admin fee they increased or the exit fee/mortgage discharge fee?

If its an application/product fee you can't do anything about this but if they increased the exit fee from when you took out the mortgage until you redeemed it you are entitled to the difference back. The FSA have recently advised lenders to reimburse borrowers if this fee was increased during the term.

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It was the exit fee - but they claim it is amalgamated with other fees to be a fair single price - i've put a complaint into the OFT, and will see what happens

Halifax - paid out without getting to court - £250 WON - no intention of going, stated too costly!!

Halifax no 2 account - paid out without a fight - (by mistake, £1650 - should have been £1200 - had to pay some back)

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I have had a few exit fees refunded without much problem so I am sure you will get it sorted. I haven't heard of swift before are they part of any other bank?

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This company is called Swift Advances plc - they are a prime lender as well as a sub priume lender. Made an operating profit of £38mn to end of march 06, and claim to be a small company. I've never had cause to run in with them but they are trying really hard to wriggle out of paying us. Their first letter to me was defamous, and when I challenged it by email, it was corrected and apologies were made due to an oversight.

 

translated, and after I had read both letters again, it really means nothing. They wanted 28 days to investigate, then got it completely wrong!! - I've put a complaint into the OFT and am considering FISA and the FLA. There is no room for manouver at all with them, their making me believe that they might be right after all:D !!

Halifax - paid out without getting to court - £250 WON - no intention of going, stated too costly!!

Halifax no 2 account - paid out without a fight - (by mistake, £1650 - should have been £1200 - had to pay some back)

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reply from OFT - "take it up with the financial ombudsman" -and their tlephone number:rolleyes:

went to the website - they can't enforce, but can slap wrists if the complaint is justified

Halifax - paid out without getting to court - £250 WON - no intention of going, stated too costly!!

Halifax no 2 account - paid out without a fight - (by mistake, £1650 - should have been £1200 - had to pay some back)

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not sure how it all stands really - i will complain to the relevant bodies, but reluctant to sue.:confused:

Halifax - paid out without getting to court - £250 WON - no intention of going, stated too costly!!

Halifax no 2 account - paid out without a fight - (by mistake, £1650 - should have been £1200 - had to pay some back)

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Ive got my anger up -

 

Can someone please view this letter, and give an opinion..please??

 

Swift Advances plc

Arcadia House

Warley Hill Business Park

The Drive Great Warley

Brentwood

Essex CM13 3BE

 

 

Dear Sirs,

 

Former Agreement:XXXXX/XXXXX

 

Thank you for your amended reply of XXXX, in response to my email of the same date.

 

Regardless of your reply, we still maintain that your increase in the Administration Fee was increased from the original quote, and that it does not satisfy the test of fairness under the Unfair Terms in Consumer contracts Regulations 1999 (“UTCCRs”).

 

You claimed to have fully investigated our complaint, and made a final response on the afternoon of XXXXXXThis letter contained a number of irregularities and untrue facts. We pointed them out and you claimed to have had an oversight, apologised and amended the letter sending it via email on the XXXXXXXXXXX

 

This proves that the complaint was not investigated thoroughly, and from our point of view is irregular.

 

You also claim that Swift Advances plc is a small company, so small in fact it made an operating profit of £38 million to 31/3/06. A profitable success for such a “small” company.

 

Your list of duties supplied in your original and amended replies to redeem this loan were irrelevant in this case, although they weren’t exhaustive, they weren’t in any way conclusive to this matter. I’m sorry if you think otherwise.

 

Our argument is simple:

 

You quoted £165 in your “Tariff of Charges – November 2002”, and listed the item as a “Redemption Administration Fee”.

 

Then you quote in addition to Balance outstanding quotations -

15th November 2004 – “Redemption administration Fee £250.00”, and

25th April 2005 – “Redemption administration Fee £250” – these were written quotations sent to us on our request.

 

We could reasonably assume that you chose to waive sealing or discharge fee and the checking and releasing deeds fee, because all of the charges didn’t apply in our case.

 

 

Regardless of the fact your company changed it’s tack in charging, it neglected to tell us, the customer, concealing your charges. This is an unfair term.

 

We formally now request you send us the difference being £85.

 

If we do not hear from you within 14 days of the date above, we will pursue this matter without further correspondence or delay.

 

Yours faithfully,

 

 

Mr and Mrs Stevesj

Halifax - paid out without getting to court - £250 WON - no intention of going, stated too costly!!

Halifax no 2 account - paid out without a fight - (by mistake, £1650 - should have been £1200 - had to pay some back)

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