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Arrangement Fee

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  • gibby
    gibby Posts: 426 Forumite
    Ive worked in the mortgage biz and telecoms biz and I avoid arrangement fees and connections fees as they are unnecessary - and you can usually negotiate them away.

    for mortgages follow martins advice & use london & country as they dont have an arrangement fee - not sure about commercial

    same with telecoms - state your looking at a few other deals and they will knock the connection fees on the head

    G
    never take advice from broke or unsuccessful people

    Jim Rohn
  • AndrewSmith
    AndrewSmith Posts: 2,871 Forumite
    gibby wrote:
    Ive worked in the mortgage biz and telecoms biz and I avoid arrangement fees and connections fees as they are unnecessary - and you can usually negotiate them away.

    for mortgages follow martins advice & use london & country as they dont have an arrangement fee - not sure about commercial

    same with telecoms - state your looking at a few other deals and they will knock the connection fees on the head

    G

    The arrangement fees would still be payable regardless of which broker firm used. This is because the fees are charged in this case by the Lender not a broker fee. No broker can change the fees charged by a lender.

    My advice is to use a specialist commercial mortgage broker. The T&C's are different for commercial mortgages as they are currently not regulated by the FSA. Most residential mortgage brokers will have very limited access to commercial lending and will represent maybe one or two companies.

    Andy
  • london country DO have arrangement fees - they are askign £1250 arrangemnt fees for an abbey mortgage but they take £875 according to the small print). direct fro abbey same deal is £250 arrangement fees....
    .
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