Mortgage Start Up Fees

forster

Which mortgage lender has the cheapest fees?

harvey115

Majority of the lenders have fee free products, you need to be more specific with your circumstances.

dunstonh

You should look at total cost over the period of the deal. Cheapest fees tend to have higher rates.

forster

Just returned to UK, have had previous mortgages here, no bad credit. Nationwide quoted
Valuation Fee £210
Booking Fee £ 90

Solicitor Fee £126
Product Fee £400 (refundable on completion)
One months interest in advance

Is this the norm

Can you recommend a good broker??

Jimbo1976

We also need to know how big your mortgage is and what interest rates you are looking for.

If you borrow £1m then paying £1,500 for a 5 year fixed rate at 2.99% makes good sense compared with having a higher rate with a lower fee. If you are borrowing £30,000 going for a no fee mortgage rate will usually be the best solution.

The lenders solicitor fee will be built into what your solicitor charges you, its to give an indication of the cost of the legal work done on the lenders behalf.

The valuation fee will be based on the value of the property. Most lenders fees will be roughly the same level. You may choose to have a more indepth durvey done (eg a homebuyers) but this will depend on the sort of property you are buying and the condition its in.

forster

Mortgage for about £70,000 - £80,000 and hoping to keep monthly costs low. Should, in a few years (sale of house) be able to pay mortgage off or reduce significantly