Mortgage ending - closure fee

I think it's standard practice. My Woolwich mortgage has a 200 "tie up all the loose ends" fee as well. Seems a bit cheeky given the interest they'll have earned, but those are the terms.

Andrew McP

You should search this group for other recent threads on this topic - including the Halifax. He may well be able to get the fee waived if he discusses the matter with the Halifax in the right manner.

Anyway, hes declined and let the mortgage run its course. Now they tell him (the Halifax) that theres an additional fee of 150 to cover the admin costs of closing the account.

This is probably in the t+Cs but is this normal? Seems a bit unfair.

50 for the deeds but 150 admin fees seems a bit steep. After all, they've had a good customer for 15 years who's never missed a payment etc and they want to scalp him for a last chunk before it all ends....

Have a look at this very recent article about exit fees and thier legality:

All sorted now. Seems the person who phoned had incorrectly added £175 to his account (which is the early repayment fee waived if you're mortgage runs full course).

Anyway, all he had to pay was £50 deeds fee (which is fair enough).

If it was me I would have told them to prove it but my Dads 72, and lives on his own. He found it pretty distressing having someone tell him he owed an extra £175 and that he had to go and pay this over the counter asap. I've half a mind to complain to Halifax about this...