Swapping policies

breezybobs_2

We have recently changed our morgage but with the SAME lender. They have charged us £499 for the priviledge! Is this correct, surely not if with the same bank?????
Thanks guys......seems it is normal. We are fairly new to this morgage lark and just didn't want to be ripped off!
No more replies please!

Pinklepurr

We took out a new fixed deal with the same lender in March and had to pay a fee of £695 to secure it. It was still cheaper than swapping lenders and paying for a new valuation/legal costs. I think you'll find it is quite normal.

spurs_nut

breezybobs wrote: »

We have recently changed our morgage but with the SAME lender. They have charged us £499 for the priviledge! Is this correct, surely not if with the same bank?????

Surely you answered your own question when you agreed to sign up and pay the fee in the first place? :rolleyes:

dunstonh

When you buy a TV from Comet, do you think that you get another one free every four years or so just because you bought one in the first place?

Mortgages are a retail product. You buy the mortgage and if you wish to buy a different one later, then you pay what it costs. The charges are known in advance and you sign to agree them.