Loan / Mortgage Charges

Small mistakes shouldn't mean big penalty fees

Taking out a loan or getting a mortgage isn't like borrowing money as a favour from a friend. The loan provider expects to be paid on time and expects to make a significant amount of interest on that loan. Loan and mortgage providers don’t do favours, but they certainly do late payment charges.

Too often, customers are charged excessive penalty charges and just accept that they have to pay, because they believe the lender has the right to charge them.

Not so. According to law, any late payment charge on a loan has to be fair and commensurate with the cost incurred – which means you should only be charged what it costs your lender – does it really cost up to £50 to send a letter?

If you think you’ve been paying too much on loan or mortgage late charges, then we know how to help you reclaim your money.

Have you swapped or ended your mortgage early and been hit by heavy fees?

Many Mortgage lenders are making a charge called a Mortgage Exit Fee, this is applied if you change mortgage or pay it off early. In some cases, these charges can be as high as almost £300. In many cases, the amount charged is a great deal more, than detailed in the original contract. Given that one in four borrowers switch lenders every year, millions of pounds are made by the banks and building societies, by profiteering in this manner.

Don't take the fees – take the 60 second loan or the 60 second mortgage to see if you could reclaim your money, plus interest! We'll work out how much you’re owed and fight your claim for you.