End of two year fix, do you have to pay new fees?

shawz007

This must be an easy one. If at the end of a two year deal you simply want to take your same bank's next 2 year fixed rate deal, do you still have to pay the fees, which tend to range from circa £750 - £1500? If so makes it much less of an easy decision between fixing for longer if you have to up the frequency of huge fees from 5-10 years to every two years...

kingstreet

If there's a product with a product fee which would suit you better than one without, then yes.

Otherwise, no.

getmore4less

shawz007 wrote: »

This must be an easy one. If at the end of a two year deal you simply want to take your same bank's next 2 year fixed rate deal, do you still have to pay the fees, which tend to range from circa £750 - £1500? If so makes it much less of an easy decision between fixing for longer if you have to up the frequency of huge fees from 5-10 years to every two years...

It's all part of the number crunch along with the other factors like changing LTV

most lenders offer a fee or no fee with a different rate an it is a trivial(ish exercise working out which is the best for the current debt.

Boredatwrork

If you look at the lenders website they often have two different pages showing borrowing rates with associated charges. One for new customers, one for existing customers.