mortgages

[achingale]

Just moved house and took out a mortgage with Halifax. I was told we would benefit from taking our fixed rate deal across to the new one and have no early repayment charges. Well we did that, and were hit with early repayment charges! I am not happy. This means if we pay off this new mortgage we could be hit again with early repayment charges. It is so unfair. If we had been told we would pay the penalty then we would have taken out a different product with them as they have better deals than the one we are on.

[Bobinovich]

My immediate reaction would be didn't you get any of their verbal assurances in writing :confused

[achingale]

Yes, Bobinovich. It is in black and white. I am just so annoyed.

[Leanne]

Have a word with the Citizens Advice. If they have said there are no early repayment charges to pay then you shouldn't have to pay them. If it turns out you have been misadvised then the person who misadvised you should pay IMO. Check it out with CA though - they can be brilliant sorting things.

Edit -grrrrr I'm annoyed too now!

[charlie]

Achingale.
Had a similar experience. Our mortgage was “portable” hence could avoid the early settlement fees by just moving it with us.
On receiving the solicitor’s settlement account, I noticed the early settlement fee had indeed been automatically added ,just as you experienced.
A quick call to the building society resulted in a refund cheque in the post a few days later. Therefore I suggest you do similar if you have not already done so.
This seems to be common practice as they do effectively “close” one mortgage and create a new one. Undoubtedly the computer will get the blame.
Call me an old cynic, but how many people don’t notice this transaction with all the other paperwork floating around a house sale /purchase? It may be common practice but it's hardly common courtesy not to advise you of this.

[achingale]

Achingale.
Had a similar experience. Our mortgage was “portable” hence could avoid the early settlement fees by just moving it with us.
On receiving the solicitor’s settlement account, I noticed the early settlement fee had indeed been automatically added ,just as you experienced.
A quick call to the building society resulted in a refund cheque in the post a few days later. Therefore I suggest you do similar if you have not already done so.
This seems to be common practice as they do effectively “close” one mortgage and create a new one. Undoubtedly the computer will get the blame.
Call me an old cynic, but how many people don’t notice this transaction with all the other paperwork floating around a house sale /purchase? It may be common practice but it's hardly common courtesy not to advise you of this.

I took your advice and called them. I had sent off a letter but having read your post I phoned. No apology, tried to blame the solicitor and said it would be passed onto admin. He mumbled something about a cheque being sent out. I will see what happens. Thank you, for getting me to phone, and letting me know I am not the only one this has happened to. I hope many orgers read this so they are not caught out.

[ciderally]

see good things happen if you share your woe's.....well done

[bullielove]

well done - what a result. Its good to talk (type)

[Leanne]

Well done you. I like results like this :) Too many of us grumble but don't stand up for ourselves. It takes a forum like this and a bit of advice and then the companies don't get away with it :) :)

[Bazeye]

Dishonest solicitors? Surely not.

[achingale]

I am pleased to let you know I got the refund today so once again thank you for the sound advice. It did take a bit longer than I had hoped but perseverance pays off in the end. Just keep an eye on your mortgage deals fellow Orgers so you do not pay over the odds.:D

[BINBOB]

Great news...u must stick up for urself at ALL times.;)

[northener]

Add up all the 'forgotten' refunds that a bank can amass over the period of a year and think about how much these 'administrative errors' are making the bank in pure profit.......

Cynical...me?

[Phill]

Ooops, I forgot about this thread.

http://www.moneysavingexpert.com/reclaim/mortgage-fees

The above link is worth looking at for anyone who's had a mortgage in the last few years.

I think we got a few quid back from a mortgage taken out about 10 years ago.

[oldmarine]

It's all about money. Money for the lender and not for the the lendee. Try to remember that.