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Mortgage Arrangement Fees

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Martin

Martin Report 26 Jul 2004 11:36

Any advice please? We would like to remortgage our home to take advantage of a mortgage with a lower interest rate. We have been approached by an independent mortgage company who are asking for a £1795 fee. I feel this is rather espensive. What do others think? Martin

Philip

Philip Report 26 Jul 2004 12:15

Hello Martin, Shop around. We've done this from time to time, and a mortgage broker is always a good way of seeking out the best deals. Their charges shouldn't be very great. Philip

Lisa

Lisa Report 29 Jul 2004 15:48

martin,we are hoping to change our morgage over butthe fees are high which to me is bloody ridiculous.there gaining interest on the money you borrow from them and are still trying to squeeze more money out of us through arrangement fees.saw on the television today that the alliance and leicester will pay your morgage fees if you transfer your morgage over to them.got to be a catch somewhere.hope this might help

Janet

Janet Report 29 Jul 2004 18:20

Do shop around, there are many company's who would not charge a fraction of this. Also have you thought of using one of the Independent Mortgage Advisors that are associated with Estate Agents. You do not need to be buying a house to use their services as usually they are not employed by the Estate Agents. Janet

Christine

Christine Report 29 Jul 2004 21:02

My son was quoted 2700.00 to remortgage - went to a local Financial Advisor who charged - nothing!!! He said his fees came from the lender Christine

Bob

Bob Report 29 Jul 2004 21:11

I am not sure why you need to pay someone to do this for you. Go here and have a look at what is on offer: http://www.fool.*co.uk/mortgages/mortgages.htm Your lender will tell you what charges they will make and remember that when they think you are leaving they might make a better offer themselves.

Bob

Bob Report 29 Jul 2004 22:28

Have a look at this too http://www.fool.*co.uk/news/foolseyeview/2004/fev040729c.htm