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Taking control of debt, free debt advice, improving your credit score and low-cost borrowing. Renting, buying a home and choosing the right mortgage. Running a bank account, planning your finances, cutting costs, saving money and getting started with investing. Understanding your employment rights, dealing with redundancy, benefit entitlements and Universal Credit. Planning your retirement, automatic enrolment, types of pension and retirement income. Buying, running and selling a car, buying holiday money and sending money abroad.
Protecting your home and family with the right insurance policies. These include mortgage broker fees, adviser fees, valuation fees, arrangement fees and more. Use our handy mortgage costs table to find out how they all work and how much you might have to pay. Wondering how much mortgage fees will cost you? When comparing mortgage offers, add up all the charges over the length of the deal as well as your monthly repayments. Comparison websites are a good starting point when trying to find a mortgage tailored to your needs.
Fees and charges Other mortgage-related charges Picking the right mortgage deal Fees and charges Wondering how much mortgage fees will cost you? The table below will give you an idea of what to expect. Mortgage costs Since March , mortgage lenders have to include any mortgage related fees, such as redemption charges and valuation fees, as part of the annual interest calculation.
All mortgage product related costs should be outlined in a mortgage Illustration document. It is sometimes called a European Standard Information Sheet ESIS , or an enhanced keyfacts Illustration with supplements of any required additional information as needed. Read more in keyfacts documents explaining your mortgage.
Typical costs Arrangement fee This is the fee for the mortgage product, and is sometimes known as the product fee or completion fee. You can sometimes add this to your mortgage, but this will increase the amount you owe, your interest and your monthly payments. Booking fee This is sometimes charged when you simply apply for a mortgage deal and is not usually refundable even if your mortgage falls through. Some mortgage providers will include it as part of the arrangement fee, while others will only add it on depending on the size of the mortgage.
Some lenders might waive this fee on certain mortgage deals. You can also pay for your own property survey to identify all the repairs or maintenance that might be needed. See our guide to the different Survey types and costs. Missed payments Some lenders might charge a fee or fees if your account is in arrears. Failure to keep up with mortgage repayments could also result in your home being repossessed.
Mortgage broker fee This fee is for a mortgage broker, if you choose to hire one, for arranging the mortgage or giving you advice. Read our guide to Choosing a mortgage — how to get the right deal. The fee is often 1. If applicable, this is usually 1. Fee for own buildings insurance arrangements Not all lenders charge this now, so check first.
Sometimes known as a freedom of agency fee or own buildings insurance fee. This fee sometimes applies if you decide to find your own buildings insurance, rather than take the one offered to you by your mortgage provider.
It can save you more money in the long run by paying this fee and shopping around for your own insurance needs. Early repayment charge This fee might not always apply, so be sure to check what the rules are with each mortgage provider, especially if you want to make an early repayment in the future.
This covers lender costs if you repay all or part of your mortgage earlier than the agreed term or deal period. The mortgage provider might also ask for any rewards or incentives paid to you to be returned, such as discounts on legal fees or cashback. Check what your mortgage account fee covers to make sure. For more information please read our guide on Stamp Duty. Use the Stamp Duty calculator to find out how much you will pay. You can find out more in Choosing a mortgage — how to get the right deal.
Find out more in Finding the best deals with price comparison websites. Did you find this guide helpful? Thank you for your feedback. Related guides The cost of buying a house and moving Home-buying process — steps to buying a new house or flat How much can you afford to borrow for a mortgage? The cost of buying a house and moving Universal Credit explained Tax and National Insurance deductions. Making Shared Parental Leave work for your family Be in the know about price hikes this April Beat your credit card debts.
This is the fee for the mortgage product, and is sometimes known as the product fee or completion fee. This is sometimes charged when you simply apply for a mortgage deal and is not usually refundable even if your mortgage falls through.
This fee is for a mortgage broker, if you choose to hire one, for arranging the mortgage or giving you advice. Not all lenders charge this now, so check first. This fee might not always apply, so be sure to check what the rules are with each mortgage provider, especially if you want to make an early repayment in the future.
This is a fee to your lender when you repay your mortgage, even if you are not repaying it early.