Mortgage Exit Fees ** WON**

[halime]

Is there anyone out there who can give me step by step instructions on how to claim my mortgage exit fee from Abbey National?

 

1. I had my mortgage with Abbey over 10 years and never seen any exit fees in my original mortgage deal.

2. During these 10 years, I've moved my mortgage to a "Flexible Mortgage" where I had a reserve account and coul dpay more/less with no fees but didn't think that an exit fee existed.

3. I've moved from Abbey to RBS where Abbey charged me about £250.00 exit fee and thi swas a shock to me as after 10+ years you would expect that there would be no such fees, may be I am too naive.

 

Your help is much appreciated.

Kind regards

Halime

[di0430]

Hi,

I would like some information regarding 'mortgage exit fees' too please if this is possible.

I am thinking about switching to another mortgage provider as our deal ended Nov 2006, haven't got round to doing this yet, but i have a secured loan to include with this switch too so basically we would be remortgaging.

I am aware that we should not get confused with 'early redemption fees' etc, but some companies have different ways of their wording too-which can be confusing.

I obviously wouldn't be leaving my mortgage deal earlier, so as far as i know we will not be paying 'early redemption penalties', but the loan we would be.

If I could possibly have as much info as possible about 'mortgage exit fees' that will be a great help in order for me to start arranging a new deal.

(just to state we are with Chelsea BS at present-in which we had taken out a discount rate mortgage over 3 yrs from Nov 2003).

Many thanks.

[happyolddog]

Hi di0430 and halime,

 

To my knowledge there has been no ruling on the legalities of exit fees only buy in fees. If you have been charged an exit fee by all means ask for it back or for a reduction.

 

Good Luck,

Happyolddog.

[di0430]

Hi, many thanks for your reply-much appreciated.

Cheers xxx;)

[halime]

Thanks happyolddog... Like your ID

[mtdn197jx]

If claiming mortgage exit fees back from Abbey should be relatively quick and straight forward. Just had £126 refunded, diff between what original mortgage contract quoted and fee charged when moved. (£99 and £225).

 

Used template from Mail on Sunday, timetable of letters:

 

05 Feb 07 - prelim, request for refund

 

13 Feb 07 - Abbey's response - looking into it and form to complete (old mortgage details, account name, date redeemed etc). Nothing contentious, however if claim includes other items be careful of paragraph "no other claims have (or will) be made in relation to the repayment fee on the above mortgage account". In my case mortgage was an old closed one and so paragraph not relevant.

 

15 Feb 07 - Abbey refusal as £99 fee was correct. Would appear they where confusing themselves as letters had different references on them.

 

16 Feb 07 - second letter from self, asking them which letter of theirs I should be concerned with, along with completed form. Also enclosed a copy of my redemption statement which stated £225 and copy of original mortgage contract which stated £99.

 

03 Mar 07 - cheque for £126 arrived.

 

Address letters sent to and which replies came from:

 

Abbey

PO Box 286

Stockton on Tess

Cleveland

TS17 6QG

 

Letters signed by:

Keith Bowran

Head of Customer Service - Lending

[zootscoot]

You can also find a template for MEAFs here:

 

http://www.consumeractiongroup.co.uk/forum/mortgage-companies/71299-mortgage-exit-admin-fees.html

[curleybap]

I changed my mortgage in 2003 from Woolwich to BoS but of course can't now find details of the original mortgage. I have the redemption statement but it doesn't make any reference to an exit fee. Can i make any claim if i don't know what the original exit fee was or what i was actually charged?

[paula20]

Hi Curleybap,

 

I'm in the same position, but I just wrote a letter to my old lender asking if I was entitled to any refund and they advised that they are currently reviewing all meafs and that they would come back to me within 4 weeks.

 

I'll wait for the four weeks then ask again, but their response was polite and more importantly, it wasn't a 'go away'.

 

There is hope...

 

Paula

[livelylad]

Thread moved to the Mortgage forum.

[halime]

Hi all,

Just to let you know that I've received a cheque from Abbey and happily donated to this site a %age of the refund. If it wasn't for this site, I wouldn't even dream about claiming any Mortgage Exite Fee back. Thank you all for your input and help.

Kind regards

Halime

[zootscoot]

Congratulations!!!!!!!

[chelsea]

Are these 'exit fees' the same as redemption fees? As I have been charged redemption fees for two previouse mortgages by two different companies and would like to know if possible to claim back.

Can someone advise?

 

Thanks

 

Chelsea

[zootscoot]

No the exit fee is the admin fee generally around 100-250.00. The redemption fee is quite different and generally runs into thousands. Whilst some poeple have had their redemption fees returned, three people lost in court on redemption fees and ended up paying considerable costs.