Loan Completion Fee Interest


I have received a letter today from YBS saying that when my mortgage funds were released a Loan Completion Fee of £345 was added to the mortgage balance and I have been paying interest on it for the last 3 years 9 months.

The letter says they cannot identify if I actually requested this fee to be added to the mortgage and they are reimbursing the interest on the fee by crediting the mortgage account by £59.

It says I have the option of paying the fee in full or after 60 days paying interest on the loan completion fee again.

What would be the best option to take? Its a 25 year mortgage and I do intent to remortgage once the 5 year fixed period is up.




This discussion has been closed.
Latest MSE News and Guides

Check your Clubcard vouchers

Use our trick to extend them

MSE News

Preparing for summer

What MoneySaving things can you do now to get ready?

MSE Forum

Hot Diamonds 40% off code

Including already-reduced outlet stock

MSE Deals