Mortgage exit fees - reclaim them for free
Welcome to Mortgage Exit Fee, your free resource for reclaiming your Exit Fee refund.
This site contains all of the information you need to reclaim your Mortgage Exit Fees, including proforma letters, and is totally FREE to use. The process is not complicated and within a matter of minutes you could be reclaiming hundreds of pounds from your previous mortgage provider.
Why can I reclaim a refund of my Mortgage Exit Fees?
The reason for this is simple, over the years lenders have significantly increased the charge they levy for their Mortgage Exit Fee in a bid to increase their profits. However they have done this in contravention of your mortgage contract, which for most lenders stated that a lower amount was due to be paid.
Thankfully, in January 2007, following an investigation, the Financial Services Authority (’FSA’) announced that past customers could reclaim a mortgage exit fee refund. This refund will typically be the difference between the actual charge from the lender and the amount stated in the original mortgage contract.
Dependant on the lender, this refund can run to several hundred pounds
Who can reclaim Mortgage Exit Fees?
Anyone who has switched mortgage provider or paid off their mortgages in the last few years and has paid a Mortgage Exit Fee.
What can I reclaim?
The majority of lenders are offering compensation for mortgage exit fees that have been overcharged. Depending on the particular lender, the refund will be all or a portion of the difference between the charge per the contract and the amount actually charged.
And even if you don’t know what it said in your contract the lenders should tell you. Use the links below to see how to get your money back for each lender. Also included are the past Mortgage Exit Fees, so you can work out roughly how much you’ll get back.
Previously a letter was required to be sent to the lender. Now however, the vast majority of lenders will accept a phone call to reclaim a refund. If a letter is required a proforma template can be found here.
Alliance & Leicester | Abbey | Barclays Bank | Bradford & Bingley | Bristol & West | Britannia | Cheltenham & Gloucester | Clydesdale Bank | Dunfermline BS | Halifax | HSBC | Kent Reliance | Lloyds TSB | Nationwide BS | Natwest | Northern Rock | Portman | Royal Bank of Scotland | Skipton BS | West Bromwich BS | Woolwich | Yorkshire Bank | Yorkshire Building Society |
Claiming interest on the refunded amounts
The majority of lenders will not pay interest on the amounts refunded. Generally, the amount of interest will not be significant and each person needs to decide if it is worth the time and effort involved
For those who wish to take this route a proforma letter template can be found here.
If you have found the information on this site helpful please feel free to leave a comment, the comment section can be found at the bottom of this page.
Alliance & Leicester
Charge prior to FSA enquiry ?295
Charge 5 years ago £150
Charge 10 years ago £90
What to do: To find out about your specific case call 0870 901 1001 or write to Alliance & Leicester plc, Carlton Park, Narborough, Leicester, LE19 0AL
Pays interest - No
Note: A&L might not repay the entire difference as their fee structure was changed in Jan 2004.
Abbey
Charge prior to FSA enquiry ?225
Charge 5 years ago £85
Charge 10 years ago £50
What to do: Call 0845 600 0346 or write to Abbey, Cr Team, PO Box 287, Stockton on Tees, TS17 6QQ
Pays interest - No
Barclays Bank
Charge prior to FSA enquiry ?275
Charge 5 years ago £95
Charge 10 years ago £50
Current position: Call Barclays on their dedicated line 0800 0234 180
Pays interest - Yes at 4%
Bradford & Bingley
Charge prior to FSA enquiry ?235
Charge 5 years ago tbc
Charge 10 years ago tbc
What to do: Write to Customer Relations, PO Box 2, Main Street, Bingley, West Yorkshire, BD16 2LW
Pays interest - No
Bristol & West
Charge prior to FSA enquiry £195
Charge 5 years ago £150
Charge 10 years ago £50, plus a deed release fee of £37.50
What to do: Call the standard customer services number or write to Customer Relations Mortgages, Bristol & West plc, One Temple Quay, Bristol, BS99 7AX
Pays interest - No
Britannia
Charge prior to FSA enquiry £75 for each sub account
Charge 5 years ago £50
Charge 10 years ago £50
What to do: Call 01538 392700 or write to Customer Feedback Centre, Britannia Building Society, Newton House, Leek, Staffordshire, ST13 5RG
Pays interest - No
Cheltenham & Gloucester
Charge prior to FSA enquiry ?225
Charge 5 years ago £50
Charge 10 years ago £35
What to do: Call 0845 603 1637 or write to Cheltenham & Gloucester, Chief office, Barnet Way, Gloucester, Gl4 3RL
Pays interest - Yes at 6.25%
Clydesdale Bank
Charge prior to FSA enquiry £195
Charge 5 years ago £0
Charge 10 years ago £0
What to do: Write to the branch where you held your account or to Customer Relations at Wealth & Mortgages, Level 4, PO Box 25, 40 St Vincent Place, Glasgow, G1 2HL
Pays interest - No
Dunfermline
Charge prior to FSA enquiry £199
Charge 5 years ago £75
Charge 10 years ago £50
What to do: Call 0845 601 2218 or write to Dunfermline BS Caledonia House Carnegie Avenue Dunfermline KY11 8PJ
Pays interest - No
Note: Dunfermline BS has stated that is believes its fees to be justified so refunds may be difficult to obtain.
Halifax
Charge prior to FSA enquiry £225
Charge 5 years ago £125
Charge 10 years ago £55
Current position: Call Halifax on their dedicated line 08451 203033
Pays interest - No
HSBC
HSBC doesn’t charge an exit fee.
Kent Reliance
Charge prior to FSA enquiry £225
Charge 5 years ago tbc
Charge 10 years ago tbc
Current position: Call on 0845 122 0033
Pays interest - No
Lloyds TSB
Charge prior to FSA enquiry £225
Charge 5 years ago £50
Charge 10 years ago £35
What to do: Call 0845 603 1637
Pays interest - Yes at 6.25%
Nationwide BS
Charge prior to FSA enquiry £90
Charge 5 years ago £0
Charge 10 years ago £67
What to do: Requires people to write to Mortgage Operations Nationwide, Kings Park Road, Moulton Park, Northampton, NN3 6NW
Pays interest - No
Natwest
Charge prior to FSA enquiry £225
Charge 5 years ago £85
Charge 10 years ago £65
What to do: Call 0845 302 0190 or write to Mortgage Operations, PO Box 19505, Greenock, PA15 1EF
Pays interest - No
Northern Rock
Charge prior to FSA enquiry £250
Charge 5 years ago £150
Charge 10 years ago £75
What to do: Write to Customer Support, Northern Rock PLC, Northern House, Regent Centre, Gosforth, Newcastle, NE3 4PL
Include a contact number in your letter
Pays interest - No
Note: Northern Rock has set aside ?15 million to pay claims. If a refund is due you will be asked to sign a declaration form.
Portman
Charge prior to FSA enquiry £195
Charge 5 years ago tbc
Charge 10 years ago £55
What to do: Portman BS, Portman House, Richmond Hill, Bournemouth, BH2 6EP
Pays interest - No
Royal Bank of Scotland
Charge prior to FSA enquiry £225
Charge 5 years ago £85
Charge 10 years ago £65
What to do: Call 0845 721 2600 or write to Mortgage Operations, PO Box 19505, Greenock, PA15 1EF
Pays interest - No
Skipton BS
Charge prior to FSA enquiry £175
Charge 5 years ago tbc
Charge 10 years ago tbc
What to do: Call 0845 717 1777 or write to Customer Relations, Skipton BS, The Bailey, Skipton, BD23 1DN
Pays interest - No
West Bromwich BS
Charge prior to FSA enquiry £300
Charge 5 years ago tbc
Charge 10 years ago tbc
What to do: Requires people to write to West Bromwich BS, Customer Care Team, 374 High Street, West Bromwich, B70 8LR
Pays interest - No
Woolwich
Charge prior to FSA enquiry £275
Charge 5 years ago £95
Charge 10 years ago £50
Current position: Call on their dedicated line 0800 0234 180
Pays interest - Yes at 4%
Yorkshire Bank
Charge prior to FSA enquiry £195
Charge 5 years ago £0
Charge 10 years ago £0
What to do: Write to the branch where you held your account or to Customer Relations at Wealth & Mortgages, Level 4, PO Box 25, 40 St Vincent Place, Glasgow, G1 2HL
Pays interest - No
Yorkshire BS
Charge prior to FSA enquiry £199
Charge 5 years ago £100
Charge 10 years ago tbc
What to do: Call 0845 120 0100 or write to Service Quality, Yorkshire House, Yorkshire Drive, Bradford, BD5 8LJ
Pays interest - No