Nat West has put mortgage fees up, will rates go up too?

Greenst

I was looking to apply for a Nat West mortgage last week the fee for existing customers was £499, looked at the web site today and the fee has gone up to £799, does this mean that interest rates will go up too soon? Are the two linked in some way or do they put up fees as they are running out of products?

ACG

Natwest may increase interest rates but i doubt the bank of england will.

The interest/fees they charge relate to some extent how expensive it was for them to secure the money needed to offer the deals in the first place.

Thrugelmir

The increased fee makes lower value mortgages more expensive to switch to the product. .

GMS

Have you checked if there are any fee free deals available? Often it can work out better paying a slightly higher interest rate if there is no arrangement fee and/or free valuation etc.

Greenst

I posted this a week ago, maybe I was on the right track after all?

Waiting for my mortgage offer to come through which seems to have magically got lost in the post twice now by the bank, are they stalling as they know something we don't?

Thrugelmir

Greenst wrote: »

Waiting for my mortgage offer to come through which seems to have magically got lost in the post twice now by the bank, are they stalling as they know something we don't?

If you have applied for a particular product and been accepted. Then that will remain the case.

realfun

I've noticed the same thing, but however a week before the change, I called up and requested offer which had a product fee of 499 at 2.49%, so called up yesterday and accept the offer before it expired.