Average mortgage arrangement fees on the rise
The average mortgage arrangement fee has increased by over £300 or 27% during the last three years, according to Moneyfacts research.
The typical mortgage fee is now £1,502, compared to £1,181 in 2009.
Aaron Strutt, a broker at Trinity Financial, says: "Mortgage lenders offer a full range of arrangement fees and you do not have to pay £1,502. The average fee maybe increasing, but there are a number of different options available.
"For example, the Nationwide Building Society only charge a £99 booking fee on their £1million plus mortgages.
"Most lenders also have fee free deals for borrowers with smaller mortgages, or higher fees for those with larger loans."
April 13, 2012
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