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When to pay mortgage arrangement fee?

ernie100
ernie100 Posts: 51 Forumite
in Mortgages & endowments
I have got a mortgage in principle off the Yorkshire Bank with an arrangement fee of £599. When do I usually pay this?

Comments

  • devon_guy
    devon_guy Posts: 302 Forumite
    Part of the Furniture 100 Posts Name Dropper
    You either pay it before you complete, it may be before the full offer is offered not sure. I added mine to my mortgage so if it fell through I wasn't left paying a huge fee.
  • Soot2006
    Soot2006 Posts: 2,184 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    I added mine to mortgage, but as am getting fully flexi-mortgage I intend to pay it off as quick as poss so as not to be paying additional interest!
  • koexelek
    koexelek Posts: 7,847 Forumite
    devon_guy wrote: »
    You either pay it before you complete, it may be before the full offer is offered not sure. I added mine to my mortgage so if it fell through I wasn't left paying a huge fee.

    I would never pay a lender a fee up front unless I had to.
    I'd rather pay it at completion
    I am a Mortgage adviser
    You 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.
  • Lynn11
    Lynn11 Posts: 674 Forumite
    We paid this by CC to our lender when we secured our fixed rate deal 2 weeks ago. We have the money in our savings, which will be used to pay off CC when it appears.
    MFIT T2 Challenge - No 46
    Overpayments 2006-2009 = £11985; 2010 = £6170, 2011 = £5570, 2012 = £1290
  • _Andy_
    _Andy_ Posts: 11,150 Forumite
    ernie100 wrote: »
    I have got a mortgage in principle off the Yorkshire Bank with an arrangement fee of £599. When do I usually pay this?

    Have you asked Yorkshire?
  • ernie100
    ernie100 Posts: 51 Forumite
    They have just mentioned I need to pay it,but not when. Is there any problem paying it with a credit card? I could use the £600 in my savings to buy a fridge and freezer :D
  • emmalita
    emmalita Posts: 125 Forumite
    Part of the Furniture Combo Breaker
    mine is being added to the mortgage
  • _Andy_
    _Andy_ Posts: 11,150 Forumite
    ernie100 wrote: »
    They have just mentioned I need to pay it,but not when. Is there any problem paying it with a credit card? I could use the £600 in my savings to buy a fridge and freezer :D

    I suggest you give them a call and ask both questions.
This discussion has been closed.
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