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Willy Weasel

Mortgage Exit Fees Scrapped

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This will also affect the sub prime market. If prime Lenders are charging high arrangement fees, it allows sub prime brokers to justify their higher fees and kind of "Normalises" the whole practice.

I never understand why people kick off about overdraft fees, mortgage exit fees etc because all it makes the banks do is put the fees elsewhere and when they move these fees around probably add a little extra profit in for themselves as an FU to the consumer.

How dare you peasants defy me the bank, dance puppets dance mwha ha ha

[Chief executive of high street bank mode off]

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This will also affect the sub prime market. If prime Lenders are charging high arrangement fees, it allows sub prime brokers to justify their higher fees and kind of "Normalises" the whole practice.

I never understand why people kick off about overdraft fees, mortgage exit fees etc because all it makes the banks do is put the fees elsewhere and when they move these fees around probably add a little extra profit in for themselves as an FU to the consumer.

How dare you peasants defy me the bank, dance puppets dance mwha ha ha

[Chief executive of high street bank mode off]

...they will need some new income to counter the challenges on their net interest stream from the bad debts building up on the mortgage and loan front..... :o:o

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Do I have a case against a banks early redemption charge of a few years ago where I was horsed for 10 times monthly cost as a penalty

..was it in the mortgage agreement?

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Do I have a case against a banks early redemption charge of a few years ago where I was horsed for 10 times monthly cost as a penalty

Errr. No. You signed the contract.

Penalty? Redemption charge you mean? Must have been worth it :unsure:

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Haven't you all realised that these increased fees are irrelevant? The banks allow the borrower to stick it on the mortgage, so the monthly impact on repayments is insignificant. They can also use this "rolling up" method to reduce the impact of IR rises.

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