Non-refundable mortgage fees Natwest

dunstonh

Accept the comments from advisors here but still feel Natwest are being unethical and need to be challenged by 'therightthingtodo' to justify this.

They dont need to justify it. Of course, if the OP wants to fund a court case to test the waters then that is their choice.

Non-refundable fees, beyond a reasonable admin fee for processing the application are simple profiteering and should be banned in my view!

And kiss goodbye to a whole selection of mortgage deals that require that method.

opinions4u

Rafter wrote: »

Non-refundable fees, beyond a reasonable admin fee for processing the application are simple profiteering and should be banned in my view!

Is complex profiteering okay then?

_Andy_

Why do so many people on here slate 'profiteering'? Surely any product or service is sold at a profit so is that a bad thing and should be banned?

JuicyJesus

_Andy_ wrote: »

Why do so many people on here slate 'profiteering'? Surely any product or service is sold at a profit so is that a bad thing and should be banned?

Ah but financial products are special and magical and they grow on trees.

Thrugelmir

Rafter wrote: »

Generally the arrangement or booking fees are not variable but fixed - same fee whatever the size of the loan - so how can they possibly argue it is the cost of arranging the funding - which will be variable depending on the size of the loan?

Fees are set to discourage applications. Lenders have target markets for particular products, i.e. size of loan.