Mortgage application fees

sgd1919

I am currently in the process of buying a house with my partner and have applied for a mortgage with C & G, and have paid an application fee up front along with survey fee. It now looks as if we may have to pull out of purchase because of structural problems with the property. If we were to find another property quickly, requiring a mortgage of the same value, would we have to pay another application fee or would we just have to pay for another survey? Any advice would be most appreciated.

AndrewSmith

I think the best people to ask about this are the C&G themselves. They are the only ones who will know for definite the correct answer.

Andy

sgd1919

Thought that might be the only answer, but they are not the best to get any information from!! Thanks anyway

herbiesjp

Had a similar case a couple of weeks ago - did valuation and then the property fell through. Did a new valuation on a new property (which had to be paid for) but the application fee stood from the first application

sgd1919

Thanks for the reply. Will have to speak to them tomorrow but sounds hopeful.

MortgageMamma

IN future, see if you can add fee's to the loan, then if you don't complete the chances of losing money are lessened. if you don't like the idea of paying interest on the fee's over the term of the mortgage then pay it off with your debit card shortly after completion (assuming your mortgage allows overpayments)

Sorry to hear of your bad experience, but you usually see in hindsight everything happens for a reason and it might not have been "the one"