I wanted to write this article as a few of our members of staff have had recent success in receiving money back from their mortgage lenders. Mortgage Exit Administration Fees- You may have heard plenty of companies talking about being able to claim money from your mortgage company but the plain truth is that either it is a vast cloud of confusion or we just don’t have the time or know-how to do anything about it. Well I took it on. I investigated it for family and staff members and I wanted to share my little snippets of success.
One staff member received £600.00, another received £500.00, and a family member received £150.00. All in time for Christmas. And actually once you sieved through all the jargon and information out there all it took was a letter, a stamp and in another case just a phone call.
Although this is not a service we offer at Solicitor Direct it is something we wanted to share with you at home so you can obtain monies back for yourselves.
So What is it and How Do I Do it?
A Mortgage Exit Administration Fee (MEAF’s) is a fee that you will have paid to the mortgage company when either you repaid or switched mortgage companies. This charge is basically an administration fee that the mortgage company quote for closing your mortgage off. In 2007 the Mortgage Companies had their legs smacked for overcharging. They would quote one charge in your mortgage offer and then when you actually came to pay off the mortgage they charged a lot more. So.. how did we do it?
We did the following:
1. Called one mortgage lender and asked ” I’d like to reclaim my mortgage exit fee please”-They looked into it and confirmed £600 was owed.
2. Wrote a letter to our old mortgage companies. The letter stated that we would like to reclaim our mortgage exit fee and the next letter back was a cheque apologising. It is always helpful if you can quote the account number, property address, date you repaid/took out the mortgage with the company. (If you are missing information then ring us/email us – we store a lot of information on our computer system sometimes including mortgage account numbers and completion dates)
And that was it! I’m not suggesting we are experts but we’ve tried and tested and we suggest that if you have repaid/switched mortgage lenders then give it a go. They can only say no!
You never know it maybe a merrier Christmas than you thought!
Jemma Lloyd
DD- 01772 426531
