Sold a house or remortgaged in the last six years?

If you have, you may have been charged an administration fee for ending your mortgage.

An administration fee has to reflect the actual costs incurred. We all know it doesn’t cost £150 – £300 to send a letter.

Pay off a mortgage and you’ll be charged a fee, technically known as mortgage exit administration fee (MEAF). It’s supposedly to cover staff, legal and admin costs e.g. changing the registration of the property at the Land Registry. MEAF’s are known by a variety of other names including 'deed release fees', 'sealing fees', 'final administration fees', 'discharge fees' and 'final redemption fees'.

A MEAF is just one type of mortgage fee, don’t get it confused.

A MEAF is a very specific charge, and this ruling only applies to it; arrangement fees and other fees that are paid when you take a mortgage out are not part of this.

MEAF’s are commonly confused with 'early repayment fees', also known as 'redemption penalties'. They’re not the same thing, and this ruling doesn’t apply to redemption penalties. To clarify:

• Early Redemption Penalties can’t be reclaimed.
• MEAF’s can be reclaimed.

We operate on a NO Win – NO FEE basis and there are no upfront fees payable whatsoever.