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Julie M

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Review of the Protectivity, Specialist Insurance:

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Everything necessary for event insurance

Protectivity provides the event insurance I need at a good price with as little bother as possible. Ideal for a busy lifestyle when you don’t want to spend ages filling in forms etc.. I will use this company for each one-off event I organise. Reviewed on: 18th July 2024

Review of the Leek Building Society, Mortgages:

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Unfair early redemption charge

We have had a buy-to-let interest only mortgage with Leek for over 10 years and have been generally satisfied until now. Our fixed rate finishes on January 31st and we have arranged to re-mortgage with another company from then as we can get a better rate. However, I have now been told that if we redeem the mortgage on Jan 31st, we will be hit with an early repayment fee of £967.07. So I am now scrambling to get hold of my solicitor to change the redemption date to Feb 1st so that this early redemption fee will not apply. I am absolutely stunned by this - we are talking of what could be a matter of minutes i.e. any time after midnight on Jan 31st costing me nearly £1K. Alternatively, the redemption notice states that if the redemption amount is delayed, then additional interest of £5.81 per day will apply. Whilst this is a trifling amount compared with the early redemption charge, it would seem that Leek wants it every way. I am appalled that a building society with whom we have been model customers would demand such a fee for us completing on the day our fixed rate actually ends and failing to give us any information about this. I only discovered why this charge has been incurred when I rang to query it. A shoddy practice. Reviewed on: 26th January 2024

Reply from Leek Building Society Thank you for taking the time to leave us a review. We understand that you’ve already spoken with our Mortgage Administration Team about your concerns in respect of the Early Repayment Charge and why this would apply if you were to redeem your mortgage with us on or before 31 January 2024. Please don’t hesitate to e-mail us at [email protected] though if this is something that you’d like us to look into further. Kind Regards Dave @ Leek BS Response date: 30th January 2024

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