I mentioned in my previous post, about the effects on your mortgage with a change in interest rates, that you should get a mortgage broker to search the market and to find you a better deal if your current deal is about to expire.
Unfortunately, getting a new mortgage doesn’t come cheap, especially as the fees imposed by lenders have doubled in the last 2 years.
The average arrangement fee has gone from £441 in 2005 to £827 today – largely down to lenders trying to recoup some of the money lost when their excessive exit fees were outlawed. As is often the case, it’s a case of one door being shut and the banks finding another one to open.
- Young People “Most Likely To Be Victims Of Online Fraud” (November 11, 2018)
- Contactless Cards Can Be Used Months After Cancellation (September 9, 2016)
- Habito Launches “World’s First AI Mortgage Advice Chat Bot” (September 15, 2016)
- Money Dashboard Mortgage Calculator Launched (September 20, 2016)
- Listen: Bank Scam Tricks Victim Out Of £12,000 (September 4, 2015)