m'gage arrangement fees

shunter8272

every 2 years we have re-mortgaged with the same building society (3 times) and have been charged admin fees plus large arrangement fees approx. £250-£400

as we havn't moved building society i am not sure whether martin has included these arrangement fees as being un-ethical

has he or not? can u advise

dunstonh

as we havn't moved building society i am not sure whether martin has included these arrangement fees as being unlawful

There is not any mortgage fees that are considered unlawful. The only mortgage fee under scrutiny is the mortgage redemption figure (which possibly incorporates deeds fee with some providers) and then its only the difference between the amount at the time of taking out the mortgage and what it may have increased to. As you havent changed lender, it is highly unlikely you ever paid that fee.

Noz

Arrangement fees are definitely not unlawful.

The customer has a free choice as to what product they choose, products with or without arrangement fees. Arrangement fees vary wildly depending on the actually product, it is the customer's choice to choose one that best suits their needs and at what cost.