Published 10 May 2013 · Older article — see current rates
Fees free Mortgage Products without Arrangement Fees – Great for First Time Buyers
Ever felt like lenders charge you excessive fees for the privilege of accessing a mortgage from them? Many customers have.
It the good old days the fees used to be reflective of the administration work undertaken by the lender to process the application – now they can bear no relation at all!
It is not uncommon for lenders fees to range from £500 to 2.5% of the loan, with the most common being about £1,000.
This type of Fee free mortgage products typically suit first-time buyers as they are often the ones in need of a higher loan to value product typically around 85% to 90% loan to value. By saving on these additional fees the applicant has often got more to spend on furniture or light decorations when they have moved into the property. Not forgetting the additional savings can also be put towards stamp duty and buildings and contents insurance which need to always be calculated.
To find more about fee free mortgages just complete out Contact Form on the right-hand side of this page.
