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Mortgage Fees
ToddForster
Posts: 4 Newbie
I was wondering what are the typical fees to expect when remortgaging?
We are currently with West Bromwich and were wondering what fees we would get to remortgage through the same company and would it be less fees than if we moved to another?
We are currently with West Bromwich and were wondering what fees we would get to remortgage through the same company and would it be less fees than if we moved to another?
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Comments
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Ask the West Bromitch about their fees.
You can find fee free remortgages with other lenders.
JoeKI am an Independent Financial Adviser.Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.0 -
All lenders offer different deasl with different fees
YOur first port of call will always be your existing lender, so see what they can offer first.
Then you should compare with what else is on the market, and as JOe rightly says, you can find totallly fees free (if that is cost effective for you) or deals with low fees, or deals with high fees.
Each type needs to be anlaysed closely, as the actual mortgage amount in question will impact on what kind of deal is best for you
HTHI am a Mortgage AdviserYou 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.0 -
Ok thanks for your responses.
The reason i ask is that i have found a mortgage on money supermarket that has the following charges:
Valuation Fee:£115
Booking Fee:£100
Arrangement Fee:£399
Are there any other fees that i should expect? Such a legal fees etc? I dont want to apply and have other fees dumped on me unexpectadly.0 -
Legals!
Early redemption fees, is another one.
JoeKI am an Independent Financial Adviser.Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.0 -
ToddForster wrote: »Ok thanks for your responses.
The reason i ask is that i have found a mortgage on money supermarket that has the following charges:
Valuation Fee:£115
Booking Fee:£100
Arrangement Fee:£399
Are there any other fees that i should expect? Such a legal fees etc? I dont want to apply and have other fees dumped on me unexpectadly.
What is the mortgage amount you are looking at?I am a Mortgage AdviserYou 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.0 -
The total loan amount is £71000 ish with about £420 repayment a month.0
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Don't forget mortgage closing fees/exit fees
Some lenders charge maybe a slightly lower arangement fee to keep upfront costs low, but then have a slightly higher exit fee. So make sure you take these into account as wellI am a Mortgage AdviserYou 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.0
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