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Mortgage Arrangement Fees
warren-atkinson
Posts: 1 Newbie
Mortgage Arrangement Fees are typically £999 which in no way represents the cost to the Bank/Building Society of setting up the mortgage. As such, there should be a method of reclaiming. IS THERE?
Warren
Warren
0
Comments
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Mortgage Arrangement Fees are typically £999 which in no way represents the cost to the Bank/Building Society of setting up the mortgage.
Evidence of that please?As such, there should be a method of reclaiming.
Why?IS THERE?
No there isnt.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Troll or someone on the reclaiming train - "all aboard ladies and gents - companies shouldn't be able to profit on anything! All fees are the work of Satan!"0
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All fees are the work of Satan!"
Indeed, the lenders should be paying the borrowers a fee to take out one of their mortgages :rolleyes:I am a Mortgage adviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
warren-atkinson wrote: »Mortgage Arrangement Fees are typically £999 which in no way represents the cost to the Bank/Building Society of setting up the mortgage. As such, there should be a method of reclaiming. IS THERE?
Warren
Nice one . . . you should do stand up.0 -
anyone who uses their whole name is always going to be trouble.
Thanks
Wutang JonesHi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
The simplest way of avoiding paying these high fees is to not borrow money from them.warren-atkinson wrote: »Mortgage Arrangement Fees are typically £999 which in no way represents the cost to the Bank/Building Society of setting up the mortgage. As such, there should be a method of reclaiming. IS THERE?
Warren
Generally the higher the fee the lower the interest rate on offer. At the end of the day the total repayments (including set up fees) you make over a defined period will not differ significantly from one mortgage lender to another.
"We act as though comfort and luxury are the chief requirements of life, when all that we need to make us happy is something to be enthusiastic about” – Albert Einstein0 -
The arrangement fees annoy me but hey what can do it often leads to a better deal!Squish0
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