| Mortgage Discharge Fees [message #380238] |
So, 16 April 2006 23:40 |
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Has anyone successfully appealed against them.
When I took my mortgage out 3 years ago it was £50, now its £199. This is
blatant profiteering.
Whats to stop them charging £1m then we are all stuffed.
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| Re: Mortgage Discharge Fees [message #380246 ] |
Mo, 17 April 2006 11:41 |
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when i took mine out - there wasn't a charge at all (got charged £299) - i
called them about this and said exactly that "whats to stop you charging a
million?" - i think it's illegal on the basis that they cant change the
contract without both parties agreeing - and i never did
"Janet Stone" <jstone [at] nospam.com> wrote in message
news:UQy0g.107714$zI1.50441 [at] fe2.news.blueyonder.co.uk...
> Has anyone successfully appealed against them.
>
> When I took my mortgage out 3 years ago it was £50, now its £199. This is
> blatant profiteering.
>
> Whats to stop them charging £1m then we are all stuffed.
>
>
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| Re: Mortgage Discharge Fees [message #380249 ] |
Mo, 17 April 2006 12:11 |
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JethroUK© wrote:
> when i took mine out - there wasn't a charge at all (got charged £299) - i
> called them about this and said exactly that "whats to stop you charging a
> million?" - i think it's illegal on the basis that they cant change the
> contract without both parties agreeing - and i never did
I think you'll find they can. Otherwise they couldn't increase the
interest rate either. The trick is that if they put up the interest
rate (or change any of the other terms to your disadvantage) they
basically give you the option of either tacitly agreeing, or redeeming
your loan more or less straight away under the old terms.
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| Re: Mortgage Discharge Fees [message #380250 ] |
Mo, 17 April 2006 12:17 |
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JethroUK© wrote:
> when i took mine out - there wasn't a charge at all (got charged £299) - i
> called them about this and said exactly that "whats to stop you charging a
> million?" - i think it's illegal on the basis that they cant change the
> contract without both parties agreeing - and i never did
Typically they can vary the terms by notifying you. However they would
need to prove that you were notified. When my mortgage with the Halifax
ended they pointed me to their "simplified" charge structure which
outlined the fee. I told them I didn't mind paying if they had notified
me in advance. They claim they did - I claimed they didn't. I keep good
records and couldn't find the price list.
I asked them to tell me what date or mailing they notified me - they
couldn't and I told them once again to prove they had even sent the
price list. They couldn't even tell me the month let alone date and
they waived the increased charge.
I am just waiting for companies to start charging you to raise a
complaint with their compliance teams.
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| Re: Mortgage Discharge Fees [message #380251 ] |
Mo, 17 April 2006 12:24 |
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"Ronald Raygun" <no.spam [at] localhost.localdomain> wrote in message
news:7RJ0g.54668$wl.29228 [at] text.news.blueyonder.co.uk...
> JethroUK© wrote:
>
> > when i took mine out - there wasn't a charge at all (got charged £299) -
i
> > called them about this and said exactly that "whats to stop you charging
a
> > million?" - i think it's illegal on the basis that they cant change the
> > contract without both parties agreeing - and i never did
>
> I think you'll find they can. Otherwise they couldn't increase the
> interest rate either.
they can't - and in fact you go on to describe how a change of conditions is
agreed
> The trick is that if they put up the interest
> rate (or change any of the other terms to your disadvantage) they
> basically give you the option of either tacitly agreeing, or redeeming
> your loan more or less straight away under the old terms.
>
that what should happen - but it hasn't happened in the case of redemption
fees
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| Re: Mortgage Discharge Fees [message #380252 ] |
Mo, 17 April 2006 12:26 |
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"Colin Forrester" <colin [at] thefrogslepthere.com> wrote in message
news:4ah8abFt1gk9U1 [at] individual.net...
> JethroUK© wrote:
> > when i took mine out - there wasn't a charge at all (got charged £299) -
i
> > called them about this and said exactly that "whats to stop you charging
a
> > million?" - i think it's illegal on the basis that they cant change the
> > contract without both parties agreeing - and i never did
>
> Typically they can vary the terms by notifying you. However they would
> need to prove that you were notified. When my mortgage with the Halifax
> ended they pointed me to their "simplified" charge structure which
> outlined the fee. I told them I didn't mind paying if they had notified
> me in advance. They claim they did - I claimed they didn't. I keep good
> records and couldn't find the price list.
>
> I asked them to tell me what date or mailing they notified me - they
> couldn't and I told them once again to prove they had even sent the
> price list. They couldn't even tell me the month let alone date and
> they waived the increased charge.
good for you - i think i will certainly persue my case
>
> I am just waiting for companies to start charging you to raise a
> complaint with their compliance teams.
>
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| Re: Mortgage Discharge Fees [message #380253 ] |
Mo, 17 April 2006 12:35 |
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Colin Forrester wrote:
> JethroUK© wrote:
[SNIP]
> I am just waiting for companies to start charging you to raise a
> complaint with their compliance teams.
That's what premium rate numbers are for.
--
------------------------------------------------------------ -----------
To reply to me directly:
Replace privacy.net with: totalise DOT co DOT uk and replace me with
gareth.harris
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| Re: Mortgage Discharge Fees [message #380257 ] |
Mo, 17 April 2006 13:13 |
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> Colin Forrester wrote:
> > I am just waiting for companies to start charging you
> > to raise a complaint with their compliance teams.
>
"Gareth" wrote
> That's what premium rate numbers are for.
You could complain by post. Or do
they have "premium rate stamps"? :-(
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| Re: Mortgage Discharge Fees [message #380269 ] |
Mo, 17 April 2006 17:54 |
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JethroUK© wrote:
> "Ronald Raygun" <no.spam [at] localhost.localdomain> wrote
>> The trick is that if they put up the interest
>> rate (or change any of the other terms to your disadvantage) they
>> basically give you the option of either tacitly agreeing, or redeeming
>> your loan more or less straight away under the old terms.
>
> that what should happen - but it hasn't happened in the case of redemption
> fees
Hasn't it? Don't they send you a little leaflet every now and then with
an updtae of their terms?
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| Re: Mortgage Discharge Fees [message #380276 ] |
Mo, 17 April 2006 18:38 |
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"Ronald Raygun" <no.spam [at] localhost.localdomain> wrote in message
news:SSO0g.54804$wl.19819 [at] text.news.blueyonder.co.uk...
> JethroUK© wrote:
>
> > "Ronald Raygun" <no.spam [at] localhost.localdomain> wrote
> >> The trick is that if they put up the interest
> >> rate (or change any of the other terms to your disadvantage) they
> >> basically give you the option of either tacitly agreeing, or redeeming
> >> your loan more or less straight away under the old terms.
> >
> > that what should happen - but it hasn't happened in the case of
redemption
> > fees
>
> Hasn't it? Don't they send you a little leaflet every now and then with
> an updtae of their terms?
>
it has to be more than a little leaflet - a change in conditions (just like
a work contract) need be agreed in writing (i have to sign to acknowledge
it) - i did ask them for this notice and got some story - in view of Gareths
success i am going to persue it - it's most certainly illegal if not
unethical
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| Re: Mortgage Discharge Fees [message #380278 ] |
Mo, 17 April 2006 18:50 |
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"JethroUK©" <reply [at] the.board> wrote in message
news:ZvP0g.57752$g76.13806 [at] newsfe2-gui.ntli.net...
>
> "Ronald Raygun" <no.spam [at] localhost.localdomain> wrote in message
> news:SSO0g.54804$wl.19819 [at] text.news.blueyonder.co.uk...
>> JethroUK© wrote:
>>
>> > "Ronald Raygun" <no.spam [at] localhost.localdomain> wrote
>> >> The trick is that if they put up the interest
>> >> rate (or change any of the other terms to your disadvantage) they
>> >> basically give you the option of either tacitly agreeing, or redeeming
>> >> your loan more or less straight away under the old terms.
>> >
>> > that what should happen - but it hasn't happened in the case of
> redemption
>> > fees
>>
>> Hasn't it? Don't they send you a little leaflet every now and then with
>> an updtae of their terms?
>>
>
> it has to be more than a little leaflet - a change in conditions (just
> like
> a work contract) need be agreed in writing (i have to sign to acknowledge
> it)
That is certainly not the case for an employment contract where simply
working under the new conditions without objection can be taken to mean
implicit agreement.
- i did ask them for this notice and got some story - in view of Gareths
> success i am going to persue it - it's most certainly illegal if not
> unethical
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| Re: Mortgage Discharge Fees [message #380289 ] |
Mo, 17 April 2006 19:53 |
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In message <ZvP0g.57752$g76.13806 [at] newsfe2-gui.ntli.net>, JethroUK©
<reply [at] the.board> writes
>- it's most certainly illegal
Unlikely. Somewhere in the original agreement there will be a bit which
say 'we may change things from time to time'.
> if not
>unethical
Its definitely unethical.
--
John Boyle
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| Re: Mortgage Discharge Fees [message #380296 ] |
Mo, 17 April 2006 20:28 |
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Blackthorn wrote:
> That is certainly not the case for an employment contract where simply
> working under the new conditions without objection can be taken to mean
> implicit agreement.
But in this case you would be aware of the new conditions.
You generally don't notice a change in redemption fees until you decide to
redeem your mortgage.
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| Re: Mortgage Discharge Fees [message #380300 ] |
Mo, 17 April 2006 20:51 |
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"Jonathan Bryce" <jonathan [at] localhost.localdomain> wrote in message
news:db3dh3-bfb.ln1 [at] michelle.jbryce...
> Blackthorn wrote:
>
>> That is certainly not the case for an employment contract where simply
>> working under the new conditions without objection can be taken to mean
>> implicit agreement.
>
> But in this case you would be aware of the new conditions.
>
> You generally don't notice a change in redemption fees until you decide to
> redeem your mortgage.
I agree that if you haven't been informed there is an issue, but if you
have, even if it is buried away in some literature which you are unlikely to
read then It seems to me that any legal responsibility the lender has has
probably been met.
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| Re: Mortgage Discharge Fees [message #382745 ] |
Di, 18 April 2006 20:55 |
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"Blackthorn" <nenagh_uk [at] yahoo.co.uk> wrote in message
news:zsR0g.57886$g76.7520 [at] newsfe2-gui.ntli.net...
>
> "Jonathan Bryce" <jonathan [at] localhost.localdomain> wrote in message
> news:db3dh3-bfb.ln1 [at] michelle.jbryce...
>> Blackthorn wrote:
>>
>>> That is certainly not the case for an employment contract where simply
>>> working under the new conditions without objection can be taken to mean
>>> implicit agreement.
>>
>> But in this case you would be aware of the new conditions.
>>
>> You generally don't notice a change in redemption fees until you decide
>> to
>> redeem your mortgage.
>
> I agree that if you haven't been informed there is an issue, but if you
> have, even if it is buried away in some literature which you are unlikely
> to read then It seems to me that any legal responsibility the lender has
> has probably been met.
isnt the difference here that if they say 'the interest rate is going to
rise' you have the option of going elsewhere, whereas if they say 'the
redemption rate is now going to be £1Million" you dont because you'd still
have to pay £1million?
So they not only have to tell you but give you adequate notice so you arent
subject to the new rate if you dont like it? Otherwise its meaningless.
So maybe if they said 'in x months the redemption rate will increase to
£1Million' ?
--
Tumbleweed
email replies not necessary but to contact use;
tumbleweednews at hotmail dot com
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| Re: Mortgage Discharge Fees [message #382746 ] |
Di, 18 April 2006 21:04 |
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"Tumbleweed" <thisaccountneverread [at] yahoo.com> wrote in message
news:4akqr9Ftac76U1 [at] individual.net...
>
> "Blackthorn" <nenagh_uk [at] yahoo.co.uk> wrote in message
> news:zsR0g.57886$g76.7520 [at] newsfe2-gui.ntli.net...
>>
>> "Jonathan Bryce" <jonathan [at] localhost.localdomain> wrote in message
>> news:db3dh3-bfb.ln1 [at] michelle.jbryce...
>>> Blackthorn wrote:
>>>
>>>> That is certainly not the case for an employment contract where simply
>>>> working under the new conditions without objection can be taken to mean
>>>> implicit agreement.
>>>
>>> But in this case you would be aware of the new conditions.
>>>
>>> You generally don't notice a change in redemption fees until you decide
>>> to
>>> redeem your mortgage.
>>
>> I agree that if you haven't been informed there is an issue, but if you
>> have, even if it is buried away in some literature which you are unlikely
>> to read then It seems to me that any legal responsibility the lender has
>> has probably been met.
>
> isnt the difference here that if they say 'the interest rate is going to
> rise' you have the option of going elsewhere, whereas if they say 'the
> redemption rate is now going to be £1Million" you dont because you'd still
> have to pay £1million?
> So they not only have to tell you but give you adequate notice so you
> arent subject to the new rate if you dont like it? Otherwise its
> meaningless.
>
> So maybe if they said 'in x months the redemption rate will increase to
> £1Million' ?
I don't know about other people, but any time my mortgage terms (or indeed
any banking terms or terms for almost any service e.g. electricity) change I
am always informed some time in advance.
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| Re: Mortgage Discharge Fees [message #382750 ] |
Di, 18 April 2006 21:20 |
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> Typically they can vary the terms by notifying you. However they would
> need to prove that you were notified. When my mortgage with the Halifax
> ended they pointed me to their "simplified" charge structure which
> outlined the fee. I told them I didn't mind paying if they had notified
> me in advance. They claim they did - I claimed they didn't. I keep good
> records and couldn't find the price list.
>
> I asked them to tell me what date or mailing they notified me - they
> couldn't and I told them once again to prove they had even sent the price
> list. They couldn't even tell me the month let alone date and they waived
> the increased charge.
I'm also with the Halifax, every year they have sent me a list of charges
along with the mortgage statement.
Interesting to know whether they can still get away with these charges since
the ruling about unfair penalty charges on credit and current accounts. The
charges are supposedly illegal if the penalty exceeds the actual cost.
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