Mortgage exit administration fees (also known as redemption fees and redemption admin fees)

Summary

If you were charged a fee when you repaid your mortgage, then you may be entitled to a refund of all or part of that fee.

If you believe you are entitled to a refund we have put in place a simple and straightforward process to enable you to claim. Further details are provided below.

Was I charged a redemption fee?

If you were charged a redemption fee then it would appear on your redemption statement which you received when your mortgage ended.

Am I entitled to a refund?

If you were charged a fee and it was higher than the fee quoted on your original offer, then you may be entitled to a refund.

How much will I be entitled to?

If you are entitled to a refund then it will be the difference between the fee charged when you repaid your mortgage and the fee that applied when you took out your mortgage. You may have this information available but if not then we will be able to calculate the refund for you.

How do I contact Nationwide?

You can claim a refund by writing to us at the following address.

Mortgage Operations
Member Account Services
Nationwide Building Society
Kings Park Road
Moulton Park
Northampton
NN3 6NW

What details do I need to provide?

To enable us to deal promptly and efficiently with your request you will need to provide us with the following:

• your name and your current address
• the account number and property address of your former mortgage on which you are claiming a refund

Please ensure that all the borrowers named on the former mortgage sign this refund claim. Any refund will be paid by cheque in the names that appeared on the mortgage account.

Why is Nationwide doing this?

Nationwide (along with other lenders) is making these refunds so as to comply with an FSA Statement of Good Practice on Mortgage Exit Administration Fees that was issued in January 2007.