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Mortgage account fee - what are they?
Loobysaver
Posts: 764 Forumite
I have just been looking at Abbey's mortgage deals and noticed this:
"A Mortgage Account Fee of £225 for the provision and general administration of your mortgage. This fee can be paid on completion or deferred until the end of your mortgage. If you defer the payment, this fee will not increase."
Is this normal for all mortgage lenders as I haven't noticed this before.
Is this the same as an exit fee?
"A Mortgage Account Fee of £225 for the provision and general administration of your mortgage. This fee can be paid on completion or deferred until the end of your mortgage. If you defer the payment, this fee will not increase."
Is this normal for all mortgage lenders as I haven't noticed this before.
Is this the same as an exit fee?
0
Comments
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Yes in a sense, albeit you can pay it upfront or when you leave.0
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Depends on the rate, it's worth weighing up all the factors. Ultimately if you think it's too much then there's nothing you can do about it0
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