Mortgage application fee

Heth_2

Don't know if anyone knows the answer to this but will try anyway.
We are trying to buy a house and are going to apply for an abbey mortgage. The application fee is 399 for the fixed rate we were planning to go for, which is fine. Presumably if they reject us it is non refundable, but what happens if the house sale falls through? If it did then we would have to find another house, and would still be applying for the abbey mortgage. Would we have to pay the 399 again, or would the other application still be valid, though the house would be different? Thanks.

AndrewSmith

Hi,

You would need to ask the lender or broker concerned directly. It varies from case to case.

Not much info but hope this points you in the right direction.

Andy

payless

Most Abbey deals allow fixed rate fee to be added to loan , this takes away the risk ( if not wanting to add, just borrow £399 less! ) however they do sometimes require it upfront on some deals.

Whilst I find the fee is usually transferrable , they often have a completion deadline, so can cause problems