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Mortgage fees
travita
Posts: 4 Newbie
I have just changed my mortgage and had to pay a set up fee of £700! This has subsequently been added to my motgage.
Looking at my options they all seem to charge this, can anyone tell me if I can do anything about this considering the deal has gone through?
By the time they add on the interest the admin fee is big money.
I might have been short sighted but if you want the deal it has to be paid!
Any advice please will be appreciated.
Looking at my options they all seem to charge this, can anyone tell me if I can do anything about this considering the deal has gone through?
By the time they add on the interest the admin fee is big money.
I might have been short sighted but if you want the deal it has to be paid!
Any advice please will be appreciated.
0
Comments
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This is discussed on the Mortgage Board so I'll shift your thread across there.0
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I'm afraid you can't do anything about it now.I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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The way you have worded this i seems there is something that can be done before the finalisation of the deal. Is that correct?toonfish wrote:I'm afraid you can't do anything about it now.
Interesting Facts - An ostrich's eye is bigger than its brain. (I know some people like that.)
Starfish have no brains. (I know some people like that too.) :rotfl:
:hello: elaine 23030 -
elaine2303 wrote:The way you have worded this i seems there is something that can be done before the finalisation of the deal. Is that correct?
Not a hope, the only way to avoid mortgage set up fees is to chose a mortgage that doesn't carry any, but that means you don't get such a good interest rate.
What you have to do before deciding on a particular mortgage is decide which costs you less & is more beneficial to you over the term, taking account of any set up charges, early repayment charges, penalty fees & exit fees.
When you pay a fee for a mortgage deal the fee is for a product & you choose whether to go for that particular product or not.The bigger the bargain, the better I feel.
I should mention that there's only one of me, don't confuse me with others of the same name.0
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