Halifax fees for releasing house deeds.

[streetos]

The Halifax have told me that it will cost me in the region of £250 in administration fees to return my house deeds to me when I pay off the morgage. Thats not early redemption penalty or anything, just administration costs to return MY deeds for MY house. Surely this is an unfair fee totaly out of proportion to the actual cost of finding and returning them.

[Rob S]

I just had the same issue with Northern Rock. When I sold my flat, they charged me £250 for the "mortgage discharge". I have asked them for a full breakdown of costs. They ignored that and offered me a partial refund of £90 in full and final settlement. I am considering my next move as I think £160 for a bit of admin is still too steep.

[TonyWei]

I am in the process of getting my deeds back. At a cost of £225 - made up of £175 Repayment Administration fee + £50 Deeds Dispatch Fee.

I agree with your sentiments that this is an unfair fee totally out of proportion to the actual cost of finding and returning them.

 

I am definately no expert but:

If you have had the mortgage for some time it may pay you to look at the original cost of paying off the mortgage early and see how much it has increased (my original docs stated £50!). From what I have read so far it seems that there may be a case for a refund if cost has increased sharply from the original quote. I guess that if it is a recently arranged mortgage that you may be stuck with what you signed for and if that amount was £250 that may be it.

 

For me I am hanging around here to gain info from the experience of others before my fight to recover the exceess fees

[Sian]

Not sure if this is any use, but my mum recently paid off her Mortgage with the Halifax and encountered the same problem. She took it to head office and had the charges waivered. The branch would not accept this and she had to keep pushing for it, but got it in the end.

 

I would say, keep complaining.

[beat the banks]

It seems to me , that they make it up as they go along. I am very close to paying my mortgage off, so I asked for a final bill. I have no early repayment fees on my mortgage, but there is a £500 charge for my DEEDS. Ridiculous.

It turns out that you dont actually need them anyway, as THE LAND REGISTRY now look after this. It appears that anything bought or sold since 2000, will allready be registered with them, and I beleive you can register your property with them for a realitic fee. Therefore we can all tell the Halifax and whoever else to stick the deeds 'where the sun dont shine'

 

www.landregisteronline.gov.uk