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Admin Charges when Re-Mortgaging with same Mortgage Provider

anitawaite
anitawaite Posts: 1 Newbie
in Mortgages & endowments
I have just re-mortgaged with my existing mortgager provider and I have been charged £800 for re-mortgaging with them. This seems excessive and I don't know what the 'charges' even are.

Comments

  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    anitawaite wrote: »
    I have just re-mortgaged with my existing mortgager provider and I have been charged £800 for re-mortgaging with them. This seems excessive and I don't know what the 'charges' even are.


    So you agreed to something without knowing what you were agreeing to?
    I am a Mortgage Adviser
    You 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.
  • KTF
    KTF Posts: 4,855 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Dont you think you should go and find out? Some of that is probably made of of the product fee but its hard to say without knowing more details.
  • bluep
    bluep Posts: 1,302 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Product arrangement fees can range up to £999 for some low-rate deals so this is what it sounds like it is. Been a few threads on this recently...ALWAYS ALWAYS ALWAYS negotiate on this!
  • dunstonh
    dunstonh Posts: 121,064 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    How can you not know the costs when they are printed on the offer letter and KFI?
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • absolutebounder
    absolutebounder Posts: 20,305 Forumite
    So you bought something without the faintest idea of what you were buying! I think your adviser must have been on one of my covert hypnosis sales courses though I didnt realise I had trained so many mortgage advisers.
    However I am just puting another course togethr called " How to sell anthing to anyone without getting caught" Cost will be £497 and places will be limited to 200. Any takers please let me know as you can see it works and places will go fast. it will be a days course in london
    Who I am is not important. What I do is.
  • The_nightmare_returns
    The_nightmare_returns Posts: 19 Forumite
    Wow thats nearly 100000 profit for a days work how do you do it?
    Think not of what goes before you. Beware that I might be behind you!
  • homer_j_3
    homer_j_3 Posts: 3,266 Forumite
    look into my eyes, not around the eyes.....

    You need go look at the Key Features Illustration. This is a document which breaks down the deal that you have chosen. All fees should be broken down in there.

    Do you have it to hand? If you cant see it, post the details of the lender and product that you have now got and see if we can help.
    I am a Mortgage Adviser
    You 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.
  • absolutebounder
    absolutebounder Posts: 20,305 Forumite
    The_nightmare_returns wrote: »
    Wow thats nearly 100000 profit for a days work how do you do it?
    No I dont get that much by the time I take out expenses for the venue £12000. marketing, pa system Management etc I will be lucky to see 60K
    Who I am is not important. What I do is.
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