Mumbai: A consumer forum holding a home loan company guilty of deficiency of service has directed it to refund the Rs 30,000 excess processing fee it had taken from a couple in Kurla. Dewan Housing Finance Corporation Limited (DHFL) will have to pay the couple around Rs 43,000 as compensation.
In 2001, Bharati and Chandrashekhar Patil got a housing loan of Rs 8 lakh from DHFL. They signed loan-related papers in September 2001. The Patils said they wanted to get done with the loan as early as possible and paid the amount before time. But they realized DHFL had taken more in processing fees.
In July 2004, the Patils sent a notice to the firm for a refund, which it rejected. The couple then filed a complaint in the Mumbai Suburban District Consumer Disputes Redressal Forum in July 2005. The firm filed its reply and said that after the agreement was signed, the Patils were to pay Rs 7.62 lakh, adding that Rs 38,118 was taken as pre-payment money. DHFL denied charging excessively.
The forum considered directives issued in December 2000 by National Housing Bank which state that if a home loan is pre-paid, then processing fee charges are only 1%. It noted that DHFL had charged 5%.