Re-mortgaging fees

Wizo

I am in the process of applying for a re-mortage (Bank of Scotland) using a financial advisor and the fees associated with this look huge.

Mortgage £240K (Self Cert)

Fees:

Arangement Fee: £2400
Valuation Fee: £615
Telegraphic transfer £35
Conveyancing fee £295

Total: £3345

Does this look right?

koexelek

Unfortunately, yes .
A 1% arrangement fee is fairly common on a self cert mortgage these days.

Also, if you are getting all your conveyancing done for £295, plus a £35 tt fee, that is not too bad either

herbiesjp

WHy are you looking at a self cert mortgage?

Heyman_2

I know it's stating the obvious but that's over £3000 that you could use to pay off your mortgage, instead of going in other people's coffers. Do you have to go self-cert? There are some decent fee-free deals around at the moment...

Wizo

I recently set up a limited company and have no accounts so therefore self cert...

I am raising some capital for property improvements. Tried a loan with no joy. Tried my current mortgage company (RBS) and they refused so had to go down the remortgage route.

Have now been had offer and it has been accepted.