The One Mortgage

Joe_Bloggs

@tawnyowls
Mention some numbers and let us all see how to work out what is best.
J_B.

bunking_off

That's the problem - and this isn't a One Account versus conventional mortgage issue, it's more a "long term hold" versus "continually churn your business" question - it's easy enough to do the cost analysis based on simply looking at the upfront fees. The problem is the release fees to get out of a mortgage are creeping up and there are no guarantees when you take out a loan what the dickens they'll charge when you want to leave.

Given everything else that's gone on, I'd wager that it's only a matter of time before the competition authorities clamp down on it and force a cost basis onto the exit fees.

In the meantime, as a rule of thumb from what I can see the entry (aka arrangement) and exit fees tend to be fixed, so the higher your loan/longer term the fix, the less material the issue. However, if you're on a £50k loan fixed for a year, being stung say £800 in fees (don't believe £500 for valuation + arrangement is unusual, and according to the press there's a few places wanting £300 to release the charge on the property) is very important - it's like an extra 1.6% on that fantastic deal.