More fees revealed by MoneyExpert.com

05/03/2007

When leaving a mortgage deal a standard fee will apply, it is important for borrowers to keep note of any additional fees. With the research recently done by MoneyExpert.com results show that a borrower can be struck with seven types of charges when completing a mortgage deal.

MoneyExpert.com have showed that lenders deals contain additional fees and they can forward this type of fee to borrowers legally. This could be anything from reinspections, valuations, administration, and also releasing home deeds to your solicitor. The average fees can differ from £30 when transferring funds to a bank account to £345.

Sean Gardner, at MoneyExpert.com, stated that: “Borrowers may be delighted to be recouping some of the extravagant exit fees they’ve paid recently, but they’re far from out of the woods given the array of other costs lenders can impose.

“Consumers may have won a round on exit fees but they can still lose out if they don’t keep a watch on other fees. Generally you may be able to negotiate a reduction in these fees if you are vigilant. Lenders want your business so remember you don’t have to accept their terms.”

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