Booking Fees.

scutter

I am about to take a fixed term mortgage and I have been told I have to pay a £995 booking fee. I was under the understanding that banks could only charge a fair price for there work.

I have been told this fee is just for them to set up the funds and the direct debit. Any Ideas

Gary

homer_j_3

I am taking cover lol!

The fee represents the overall pricing of the product. You can get fixed rates with lower or no fees but they will be a higher rate.

dunstonh

I was under the understanding that banks could only charge a fair price for there work.

There is no such law or rule in place for that. Your understanding is wrong.

How do you think car manucturers can get away with adding tens of thousands of pounds to their prices on different models when the cost of manufacturing them is not much different?

Anyway, please tell us why you think it isnt fair and what work you believe is involved. I can tell you that setting up the funds and direct debit is just a fraction of what is involved.

Dan_Collins_2

aaaagaggggggghhhhhhhhh

homer_j_3

is this going to turn into another 10 page thread?

OP please do not be put off by our comments but this question has been asked a million times (alright maybe not that many but lots).

Are you using a broker to find you a deal or are you doing it yourself?

minimike2

No comment.

LOL

Dan_Collins_2

I tell you what is unfair, driving 45 minutes to see a client, 1 hour 45 mins with the client, offer best deal available from soursing machine and bang....

... oh I have been offered xxxxx

aaaaggghhhh wish I charged 1k for my work!

Ps. This is asking before driving all that way if they had been offered or seen anybody! This is probably a new thread but I could not be bothered to move!

homer_j_3

Dan_Collins wrote: »

I tell you what is unfair, driving 45 minutes to see a client, 1 hour 45 mins with the client, offer best deal available from soursing machine and bang....

... oh I have been offered xxxxx

aaaaggghhhh wish I charged 1k for my work!

Ps. This is asking before driving all that way if they had been offered or seen anybody! This is probably a new thread but I could not be bothered to move!

You love it really....

trudiha

I know just where you are coming from, Scutter. I've just received a bill from the solicitor who has handled the purchase of my house and I'm more or less convinced that he is going to make some kind of profit from the deal. Additionally the vendors seem to have made enough from me to have been able to pay the Estate Agents they employed and put a hefty deposit on a new house. It would also seem that the removal men are going to come away from moving my stuff with more money than they had at the start of the day, despite me making them two cups of tea EACH on the day and my being very free with the Rich Tea.

I can't begin to tell you how frightened I am to visit Tesco now.

I'm not sure about the legal position but this can't possibly be fair. In the absence of proper legal redress perhaps we could start some kind of support group?

minimike2

Dan_Collins wrote: »

I tell you what is unfair, driving 45 minutes to see a client, 1 hour 45 mins with the client, offer best deal available from soursing machine and bang....

... oh I have been offered xxxxx

aaaaggghhhh wish I charged 1k for my work!

Ps. This is asking before driving all that way if they had been offered or seen anybody! This is probably a new thread but I could not be bothered to move!

What about the fact that Woolwich are offering .74 over base with no application fee and no ERC, yet the best we can get is 1.29 over base with a £595 fee and 1% ERC for three years. - Thats pretty unfair.......I know who I wont be doing any more business with for a long time...

minimike2

trudiha wrote: »

I know just where you are coming from, Scutter. I've just received a bill from the solicitor who has handled the purchase of my house and I'm more or less convinced that he is going to make some kind of profit from the deal. Additionally the vendors seem to have made enough from me to have been able to pay the Estate Agents they employed and put a hefty deposit on a new house. It would also seem that the removal men are going to come away from moving my stuff with more money than they had at the start of the day, despite me making them two cups of tea EACH on the day and my being very free with the Rich Tea.

I can't begin to tell you how frightened I am to visit Tesco now.

I'm not sure about the legal position but this can't possibly be fair. In the absence of proper legal redress perhaps we could start some kind of support group?

This made me LOL....first time ive done such a thing this week.