From: "gaz" 
Newsgroups: uk.finance
Subject: Re: Mortgage repayment fee - increased?
Date: 18 Jan 2007 02:30:34 -0800
   posting-account=4sgbuQsAAABtNiEsJwuQmT7JEQZrbQUY

Hi

Thanks for the advice. After a bit of research it's getting to be a
common issue with remortgaging...

http://business.timesonline.co.uk/article/0,,9553-2113910,00.html
http://timesbusiness.typepad.com/money_weblog/2006/03/fight_the_hike_.html

Thanks again.
Gary.


Ronald Raygun wrote:

> gaz wrote:
>
> > Please help... I took out a 2 year fixed mortgage with Halifax, and
> > it's coming to the end of it's term next month. I asked for a
> > statement, and they've included a repayment administration charge of
> > =A3175. Never had to pay one of these fees with my previous mortgage
> > deals, so I questioned it. Halifax told me I agreed to it on the terms
> > and conditions, and that I should check the t&c again.
> >
> > When I did check them, it had a repayment fee of =A3100, not =A3175 what
> > they're currently charging. As we we're tied into a fixed mortgage for
> > two years, should Halifax have the right at changing the fees
> > associated with the mortgage within the 2 year period?
>
> It's not a "fixed mortgage" in the sense that the T&Cs are frozen for
> 2 years, it's a deal in which only the interest rate is frozen for that
> time.
>
> But no, they can't change the terms to your disadvantage without giving
> you prior written notice including the opportunity to pull out before
> they take effect.  They may well have done so, by enclosing with your
> regular statement a glossy flyer full of fine print, which you promptly
> filed in the bin.