Mortgage product fees

lvscrewloose

Hello there, new to forum and any advice would be much appreciated. I am due to remortgage end of this month. All mortgages I have looked at have been charging large "product fees". To keep virtually the same deal i have with LLoyds tsb at the moment, they are going to charge me £595. Apparently this is a discount of 400 pounds as I am an existing customer. Is there any way around this? I have a relatively small mortgage so this is a large chunk to add every few years!

thejoose

To avoid the cost of remortgaing every 2-3 years consider a life tracker where the rate above the base rate will remain for the life of the mortgage. That way if you do pay a fee to arrange it, then at least it should be the last time you need to pay one.

dwsjarcmcd

No there is no way round it. Either choose a product which has a lesser fee but higher rate, or fix for a longer period, say 5 years.

dunstonh

Is there any way around this?

dont buy the product.

I have a relatively small mortgage so this is a large chunk to add every few years!

Dont buy deals that expire every few years.

Cost the package over the term of the deal. It may be that a no fees mortgage is cheaper with a smaller mortgage.