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Mortgage Exit/Discharge Fee (Not Early Redemption fees)
Cashby
Posts: 61 Forumite
Hi, are these still legal and if so where are the rates set for amounts that lenders can charge please?
Also, can lenders put them up after you have taken out the mortgage by ‘varying their fees’?
Thanks.
Also, can lenders put them up after you have taken out the mortgage by ‘varying their fees’?
Thanks.
0
Comments
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Yes. Still legal.
Lenders can charge what they like. As long as the fee is visible on the illustration and mortgage offer the borrower is free to vote with their feet...
If there is no change to the mortgage product during the mortgage term, no. If the product is changed, ie a new two year fix is selected after the expiry of another fix, yes. Again, subject to visibility on illustration and offer.I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.2
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