Mortgage Start-Up Costs Refunds


This topic contains 5 replies, has 5 voices, and was last updated by Profile photo of helen2shawn helen2shawn 5 seconds ago.

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  • #194265
    Profile photo of d9shell

    The mortgage ‘floor clause’ saga has been widely reported but I came across this article in El Pais in English –

    This suggests some or all of the hefty mortgage set up costs should not have been paid by the mortgagees and may be recoverable.

    This doesn’t seem to be widely reported or commented on: something for the site to run with?

  • #194278
    Profile photo of Mark Stücklin
    Mark Stücklin

    Yes, I’m on it. But well spotted, and thanks for the suggestion. Many people could be entitled to refunds of several thousand Euro, myself included. I’m organising a cross-border legal service to go after mortgage interest rate floor-clauses and mortgage set-up cost reclaims.

    Once again, thanks for being on the look out.

    Illegal or abusive mortgage interest-rate floor-clauses, and how to claim a refund if you have been overcharged

  • #195355
    Profile photo of grast66

    Hi, Can you provide an update on how to go about recovering the mortgage set up costs. Have there been any successful claims so far?

  • #195360
    Profile photo of marios

    Also what about when you convert your mortgage from repayment to Interest only for a set period (in our case 2 yr I think), this happened to us when mortgage rates shot up in 2008 I think, we had to pay all the fees for changing and Insurance on top which they said was compulsive, I reckon this cost us €2500 which the whole point of changing to Int only was to reduce your mortgage costs, we didn’t realise about the insurance costs till after the signing at the notary.

  • #195454
    Profile photo of d9shell

    Grast66.  Mark’s comment 11 Jan. above mentioned setting up a legal service for this and ‘floor-clauses’ claims but the link still only seems to deal with the latter.  But you could make contact through that and see if they’re ready to process set-up claims.

    I just sent a two line letter to my bank saying in effect, in view of the recent Supreme court judgement I want my money back!  And sent them details of the costs incurred.  So far they’ve sent a long but ultimately bland acknowledgement saying they’re looking into it, giving themselves 60 days, which is as much as I expected.  Can’t do any harm.

    Good luck.

  • #195786
    Profile photo of helen2shawn

    My first mortgage was in 2004 does it go back that far? and since then we have topped the mortgage up twice so will that be covered as well?

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