Mortgage fees

toonfish

AndrewSmith wrote: »

Tell you what, let's all campaign for the abolision of arrangement / booking fees on incentive mortgage products.

The lenders will then simply turn round and stop offering them leaving us with no choice of products at all except a basic standard variable rate mortgage at a current average rate of 7.75%.

Smart thinking, nice one.

Spot on Andrew - the amount of folk who think they are entitled to "everything for nothing" is becoming a joke. Some people need to wake up to the real world.

kennyboy66_2

Stevieb0y wrote: »

How can they justify this fee? Surely this is just a way to offset the discounted rate.

Steve

Partly it is. But however the fees are described they are not at all like punative bank charges.

Just include all the relevant fees and charges when you are comparing products from various lenders over the period that you are looking to remortgage over.

Sit down and work out the total you will pay over 5 years in each case - or go and see a no fee, whole of market mortgage advisor who will be able to help you. And remember to think twice when they try to flog you life insurance, house insurance, etc, etc. You can often get these cheaper somewhere else.

Ignore the cretinous 'advice' of those who just can't wait to pounce on posts like this and egg on their 'mates' to do likewise.