mortgage question

blakea8k

Next year my 3yr tracker will be over and i will be moving house at the same time. I am going to look around for the best mortgage deal, but if it is with another bank do i have to pay any fee's to the existing bank?
Will the solicitor sort it all out?

thanks

herbiesjp

You will normally have sealing fee or closing fee or deed release fee.

Whilst they have been set at a level when you first took out the mortgage, you may find that they are higher now than at the outset.

Your solicitor will indeed take care of the payments and who gets paid to whom, when and where.

Trying_really_hard

If you do move to another lender to may have to pay a "mortgage discharge fee" or "mortgage administration fee" to your existing lender (it has many names).

It can be anywhere from £150 to £300 dependent on who you're with. It covers closing the mortgage and dealing with the "legal " side of things.

Hope that helps.