remortgage fees

kizzy68

I have just come to the end of my fixed rate mortgage with Newcastle building society- I have chosen the option to stay with them as their rate is one of the lowest at the moment.But they still want an additional £999 completion fee and £99 up front product reservation fee. Can they apply these charges even though Im an existing customer-They say they can as its due to the credit crunch and the financial markets!! :mad:

KTF

A fixed rate mortgage is like any other retail product. If you want it then you have to pay for it. By paying the fee you are securing a rate that is lower than the SVR. If you dont want to pay a fee then choose a deal without one.

Your argument is like saying that you bought a TV from Comet 3 years ago and now you you expect them to give you a replacement for free.

wymondham

You can always look elsewhere...

nathanhill69

kizzy68 wrote: »

I have chosen the option to stay with them as their rate is one of the lowest at the moment.:mad:

The key words here are "Chosen", "Option", "Rate" and finally "Lowest".

Do the maths and figure out wether the fees justify the term and the interest rate they are offering. Also, if you don't like the booking fee then they probably have an alternative product with lower and/or no fees - obviously the interest rate will be higher though.

I'm afraid you pay your money and you make your choices.

Good luck:o

spcdust