Fixed rate mortgage fees have been increasing fast, as we increasingly switch our home loans to attempt to protect ourselves from interest rate rises.
The average application fee went up 18.5% since the Bank of England put up interest rates in August 2006, the first of three hikes in six months, so figures from MoneyExpert.com detail.
Over that time period the number of fixed rate mortgages with application fees of £750 plus has gone up from 13 to 93, with there having been 98 fewer deals with fees under £500.
Not all mortgages come with an application fee upfront.
The fees situation ought to take into consideration whether you are looking to switch.
Choosing a mortgage is complicated enough and for many people it will not be appropriate to select a product based on whether a fee is charged or not.
It is best to weigh up your options and select a product best suited to all your needs, whether a fee is involved or not.
MoneyExpert's analysis shows how many fixed rate mortgages have no set application fee, with mortgage lenders opting to vary fees or sometimes offering no fee mortgages.
Cheltenham and Gloucester , Abbey and Northern Rock are amongst mortgage lenders presently not charging interest on a few of their fixed rate mortgages.
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Brits Being Stung by Fixed Rate Mortgage Fees Wed, 21 Mar 2007
     Recommended linksFixed Rate Mortgages Getting CheaperIncrease in Uptake of Fixed Rate Mortgages First Time Buyers Have An Even Tougher Time House Prices Treble in Last Decade Apply for a Fixed Rate Mortgage |
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