Negotiation of mortgages?

optimus_prime_2

Is it possible to haggle over things like exit fees and product fees?

I have accounts with Halifax and Natwest and the mortgage offer is slightly better with Natwest as there is no product fee but the maximum loan is £150k. Can I say to Halifax: "match that £0 product fee, cut the £250 exit fee and we have a deal"?

_Andy_

No, they won't haggle. (without meaning to sound Python)

inca_2

Sorry but they won't do it, the product fee is worked out as part of the cost of providing with that specific rate. That's why lenders will often have a range fee structures, the higher rates with the lower or zero fees and the lower rate with the higher fee. Are the interest rates and type of product the same?

mclaren32

optimus_prime wrote: »

Is it possible to haggle over things like exit fees and product fees?

I have accounts with Halifax and Natwest and the mortgage offer is slightly better with Natwest as there is no product fee but the maximum loan is £150k. Can I say to Halifax: "match that £0 product fee, cut the £250 exit fee and we have a deal"?

If its a first time buyer deal you are looking at with Natwest then they have increased the maximum to 300k recently (I believe).

Worth checking.

dunstonh

Some mortgage products have no profit in the rate at all and the only profit is on the product fee.

Its not impossible at certain times to get certain things negotiated but generally the branches dont have the remit to overrule the product pricing.