Mortgage arrangement fees at 25-year high

The average mortgage arrangement fee has increased to £1,522, the highest figure ever recorded by Moneyfacts.co.uk. All of the lenders have lowered their mortgage rates over the last few years although arrangement fees have been steadily rising. During the first three months of this year, research shows that fees have risen by £112. Anthony Emmerson, a broker at Trinity Financial, says: “Mortgage rates maybe at a record high, but the lenders offer a lot of choice. The typical arrangement fee is around £1,000 and there are many fee-free options. It often makes sense to pay a higher fee if you are borrowing a substantial amount.” Click here to view our comment in the Evening Standard: http://goo.gl/Ta2vJ] April 12, 2013