Is It Free To Remortgage?
There are many lenders or advertise fee free remortgage deals. These remortgage deals normally have a less than competitive interest rate and these lenders will make up their fee free products with a higher interest.
The costs associated with a remortgage are stated below:
Exit Fees
This is payable if you end your existing mortgage early. It is sometimes called am Early Redemption Charge (ERC). You must check this with your current lender and if it applies, then factor in this cost when taking out a remortgage.
Arrangement Fees
This is a set up cost for your new mortgage. This is a fee to cover administration and may be included with the mortgage loan.
Legal Fees
This is the fee that covers a conveyancer to carry out all legal work of a remortgage.
Survey Fees
This is the fee you pay to get your property surveyed to find out it’s worth.
Bear in mind when you take out a remortgage deal with us the survey and legal fees may be free depending on the deal.
When you choose to remortgage with us we will make sure that whatever deal you get, whatever costs you pay, you will end up better off by saving money or raising money.
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