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Arrangement fee question
rqy99g
Posts: 37 Forumite
Due to issues with not being able to get my hands on a pot of money I have arranged a mortgage (as a backup plan) and have had the mortgage application sent to me.
If I post the application forms back to the lender but in the end don't take the mortgage will I still be liable for the arrangement fee?
Think I know the answer:rotfl:
If I post the application forms back to the lender but in the end don't take the mortgage will I still be liable for the arrangement fee?
Think I know the answer:rotfl:
0
Comments
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I'm pretty sure you wont be liable for the fee, but this could vary depending on provider always best to check - give em a quick call
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what do the terms say?
If it says non-refundable then it means it is not refundable.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Can you add the arrangement fee to the mortgage? If so its not usually payable even if you do not take up the mortgage.
I know some lenders (natwest for example) charge £150 if they make an offer but you do not take it up.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 -
Usually there would be a valuation fee payable on application which you would obviously lose if a valuation was carried out.
The terms of any application fee would be in the Key Features document you have to be in receipt of before making an application.0
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