Mortgage fees climb to new high

grizzly1911

Fella wrote: »

Fees have existed for decades but actually during the boom most places were so keen for business they dropped them. In contrast to now when they're at an all-time high. So a substantial difference.

Graham_Devon wrote: »

Not only dropped them, they gave YOU cashback. The role was completely reversed in the boom.

At the height of the boom weren't lenders parcelling these up, securitising them, to raise funds to lend even more? So where did they make their money? Any margins must have been thin and short lived.

There must have been an overhead in processing each mortgage to a suitable standard to meet the criteria for onward "sale".

michaels

In fact from anecdotal experience on these boards it is those who do not keep a sensible level of savings and are thus not able to pay an upfront fee who end up taking the low fee but higher rate and thus more expensive overall deals.