Bank are charging higher mortgage fees. SURPRISE SURPRISE!!!

Despite mortgage rates continuing to fall, fees on fixed rate mortgages are rapidly increasing and are now approaching a four-year high, according to Moneyfacts research. The average fixed rate fee now stands at £1,018, reaching its highest point since August 2013 when average fees then dipped to £1,005. Since the summer of 2013 fees steadily fell, averaging at £886 in July 2014 before climbing back to £929 in July 2015 and £986 in July last year. Charlotte Nelson, Finance Expert at Moneyfacts, said: “With read more

2 year fixed rates and re-mortgaging

New data from Moneyfacts has highlighted that borrowers who opted for a cheap two-year fixed rate mortgage two years ago, are more likely to re-mortgage from their Standard Variable Rate (SVR) to a new deal than those whose fixed deals ended in October 2014. Charlotte Nelson, Finance Expert at Moneyfacts, said: “Two years ago, the mortgage market experienced an aggressive drop in rates, which saw the average fall from 3.41% in October 2014 to 3.06% in March 2015. Borrowers who took advantage of lenders fighting to be read more