Re-Mortgage fees

missmoneybags_4

Dear All

If you remortgage a property, are the banks quite within their rights to charge an admin fee and a booking fee?

I just thought I would ask as I am a little confused.
Thanks

david29dpo

of course. but i have never heard of a booking fee. you can re-mortgage with anyone who we have you, some products with have fees, others not. do the sums and pick the best for you. nothing to it really.

MortgageMamma

Hi There

Yes some products have fee's and some do not. for a smaller mortgage its better not to pay fee's and have a higher headline rate, whereas for a bigger mortgage often an arrangement fee plus a lower rate works out better

Most lenders offer a fee#s free alternative for small mortgages and those who do not want to pay fee's, although these are not always well advertised

missmoneybags_4

I am getting a mortgage over 35 years, fixed for 15 years with the Abbey, I am being charged a booking fee of £995 and an admin fee of £100, does this seem normal? If I were to buy a car surely I would not be charged a fee to buy it?

david29dpo

Arrangement fee can be called anything. Just add them together and compare.