What fees should I expect when I remortgage?

Phil3822

Hi all, seems like a simple question but one I am struggling to get an answer to. What fees should I account for when I come to remortgage? I am currently on a sub prime fixed deal however when this fixed ends I want to change to a new deal. Credit rating is clear now.

I would appreciate replies letting me know what fees I should prepare for etc.

Any other advice would be great.

_Andy_

All depends what you want. Could be 0, could be in the thousands

Phil3822

Sorry, rather than cost I meant a list of fees that I may have to pay. Such as arrangement fee, valuation etc. I dont know if there are legal fees are other associated costs with a remortgage. Any estimate fee's would be great as well. This is our first time preparing to remortgage. Thanks all.

MB1919

When I remortgaged a couple of years ago, I paid a small exit fee because I changed lender and an arrangement fee. Valuation and legal fees were free. A grand total of £200. However, all these costs vary considerably.

kingstreet

Phil3822 wrote: »

Sorry, rather than cost I meant a list of fees that I may have to pay. Such as arrangement fee, valuation etc. I dont know if there are legal fees are other associated costs with a remortgage. Any estimate fee's would be great as well. This is our first time preparing to remortgage. Thanks all.

Discharge costs for existing mortgage
Solicitor's costs and fees
Valuation fee
Booking fee
Arrangement or administration fee
Accrued interest in first month's payment.

As Andy said, these range from nil to lots and the only way to establish them is to get quotations. The smaller the mortgage, the more likely it is you'll be better off with "fee-free" deals. A bigger mortgage may make the interest savings worth paying set-up fees.