All forum users be aware of the unfair exit fees charged by some providers - you do not need to take this lying down! Look at bank charges and how the banks are now having to repay £1000s back to those customers who have been overcharged. This is the same with millions of homeowners who, on exiting their mortgage, find they are being charged an inflated fee than the one that was quoted at the outset of the mortgage contract. This applies to both present and past homeowners that have paid an inflated exit fee on their mortgage.

I am doing something about it and writing to my provider questioning the rational behind these increases. You can do the same by using this draft letter below:

Dear Sir/Madam,
Further to the announcement by the FSA and Council of Mortgage Lenders (CML) to announce a "Statement of Good Practice" around exit fees on mortgages, I am writing to question the inflated exit fee that I paid on exiting my mortgage with yourselves last year. I was quoted £X at the start of my mortgage and when I came to exit my mortgage this had increased by x% to £x! with no justifiable rationalle as to the reason why.

Under the new standards agreed by the FSA and CML they have stated they will investigate cases such as this due to the unacceptable inflated exit fee I have paid.

I look forward to receiving the difference between the original fee and the fee I was charged back in the form of a refund otherwise I will have to pass my details on to FSA who will investigate this matter further.

I await your response

Regards

Dear Be-Bold

I was very interested to read your opening thread. Are you saying that your agreement states a flat fixed 'exit fee' of £x in black and white and your provider has just decided to increase it? if so has the media been alerted to this 'interesting' situation? If it has already been publicised I would very much appreciate any references you may have such as say The Times, x Date. All the best, Fedora.

The FSA made their announcement last Friday - I guess you could look on their website, but I read the post above and apart from the language style which is perhaps more confrontational than I tend to use, it tallies with I've heard so far.

http://www.moneymadeclear.fsa.gov.uk/news/unfair_exit_admin_fees.html

Sorrry, don't know how to do links

I've already got my money back. This can be done. Actually there's no need for the letter above - I just called up. You'll find the full info on this on www.moneysavingexpert.com by far the best site for this type of stuff (and bank charge reclaming and most money things really) its run by the tv money guy martin lewis

Hope this helps

Pauline

I've managed to find a link that goes direct to the right bit now

Mortgage Fee Reclaiming:
http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1170081918,22653,

Also these two are good, I've done the first, but while I know others who got money back on council tax, my band was correct

Bank Charge Reclaiming:
http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1141050760,24632,

Council tax reclaiming:
http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1141050760,24632,

Can I do this if I re-mortgaged with the same lender?

I am terrible with paperwork, so am unlikely to find the documentation showing the difference between my quoted exit fee and the fee paid. Is it possible to simply ask for the difference without stating the fees involved, or would I have to request a note of the fees and possibly pay £10 search fee as was the case when claiming bank charges?
Also, how far back can you claim as I have moved mortgage every two years.
Thanks,
gumpbie

Could you advise how far back you can make a claim for exit fee charges. I change my mortgage in October 2001and charged quite an extensive exit fee. Does the claims go that far back.

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