Hi,
I have a question regarding mortgage arrangement fees.
Say the fee is £995 and i add it to the loan. The mortgage is a fixed rate for 5 years and the term of the mortgage is say 25 years.
I assume they add the 995 to the total balance payable over the 25 year period. But what happens when the 5 year fixed period is up and i change provider will there be an outstanding amount payable for the arrangement fee, as this would not have been payed fully within the 5 year period? So would they hit me with a bill at the end of the 5 year fixed period if i changed provider?
Hope that all makes sense.
Thanks
I have a question regarding mortgage arrangement fees.
Say the fee is £995 and i add it to the loan. The mortgage is a fixed rate for 5 years and the term of the mortgage is say 25 years.
I assume they add the 995 to the total balance payable over the 25 year period. But what happens when the 5 year fixed period is up and i change provider will there be an outstanding amount payable for the arrangement fee, as this would not have been payed fully within the 5 year period? So would they hit me with a bill at the end of the 5 year fixed period if i changed provider?
Hope that all makes sense.
Thanks