Shot Down in Flames ; Officially, Alliance Leicester Is Sticking to Its Guns On a Hated Pounds 295 Mortgage Charge. But, Secretly, It has Caved in to Helicopter Pilot Rick Atkinson and Dozens of Financial Mail Readers Who Have Found It Pays (Pounds 100 and More) to Complain

Summary

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Financial Mail has good news today for most of Alliance Leicester's 450,000 mortgage customers you can save Pounds 100 for the cost of three postage stamps. This is because AL, which caused outrage by charging Pounds 295 for borrowers who want to switch to cheaper rivals, appears to be knocking Pounds 100 or more off the fee for those who complain.

Last August, AL decided that all borrowers, however loyal, would be hit with the fee just for closing their account. The fee had already been a hefty Pounds 195, but the bank raised it by Pounds 100 overnight.

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Extract

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Shot Down in Flames ; Officially, Alliance Leicester Is Sticking to Its Guns On a Hated Pounds 295 Mortgage Charge. But, Secretly, It has Caved in to Helicopter Pilot Rick Atkinson and Dozens of Financial Mail Readers Who Have Found It Pays (Pounds 100 and More) to Complain

It is supposed to cover the costs of posting deeds and other routine tasks, and has nothing to do with the kind of penalties made if borrowers leave during a tie-in period. Most rival lenders charge a fractio...

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