Hope that someone has been through this and has a way to get this fee overturn/reduced!!!
We are selling our property and to cancel our mortgage just 2 months prior to the end of the 2 year fixed term- our mortgage runs out on 2nd July 2013- with the consequence that we owe Santander a 3% fee of £3665.76p.
Our property has been for sale for a long time because of the current situation within housing market. Because of this we have had to sell the property for less than we thought and would have liked to. We have asked the buyers if they will wait on the completion date for the sale but they have not agreed
We have been very loyal customers to Santander for many years. Me and my wife both have our Current Accounts and Saving Accounts with them and have had our mortgage with A & L and then Santander since we have owned both this house and our previous property.
To try and get the fee waived we have contacted the local branch by phone who advised us to call the mortgage team. We contacted the mortgage advisor who confirmed that they are not able to do anything for us; only to defer our mortgage to next house which is not possible as we are moving abroad.
Next, we contacted our local branch mortgage advisor at Swindon Santander mortgage team, but there was also nothing he could do and we were told to email Santander Customer Services.
We contacted them in writing via email, and were told they can't reply to us via email as itís is not secure and we were asked to phone the mortgage team instead.
We called the mortgage team who spoke to a supervisor, but there was still no-one willing to help, so we put in an official complaint which was opened there an then on the phone as well as closed directly on this call as they said itís just for their records to help their future customer service, so pointless! They stated there was nothing more Santander could do.
Then we went into the local Santander Branch in Swindon town and spoke to the Manager who took all the details, advising us that there was a new rule in place regarding mortgage clients moving abroad- she was hopeful something could be done. However, she phoned back the next day and explained that she had spoken to the Regional Manager who confirmed there was nothing they could do and we would have to pay the fee.
Lastly, we contacted the financial-ombudsman, however the waiting list for help is currently 6 to 9
months and looking likely that this will be too late for us to do anything before the sale of the property.
We understand why the fees are in place to stop you leaving and getting a better rate with another lender, however we are forced to cancel the mortgage as we are leaving the country, so we are so disappointed Santander is not even considering any kind of help.
Please, if there is anyone that has a magic wond... HELP!!!