Compare Fee Free Remortgages
Fee free remortgages would not include the following:
- Early repayment fee
Higher Lending Charge
Survey/ Valuation fees
Some mortgage lenders will not charge certain fees as an incentive to new customers, but there are a number of different fees, so always check the small print.
When searching for a better deal on their remortgage, many customers are often understandably wary of the arrangement fees that are commonly required when switching mortgages. A mortgage that is advertised as ‘fee free’ will often mean that customers will not be expected to pay for any arrangement, valuation or solicitor fees.
There are several providers that may offer customers a new interest rate deal as part of a fee free remortgage. However in order to find the best fee free remortgage deals, customers are advised to shop around as much as possible and compare different mortgage offers.
The following are some examples of common remortgage deals that may come as part of a fee free arrangement with different providers:
- A fixed rate mortgage
- A tracker mortgage
- A variable interest rate mortgage
Although the apparent lack of any arrangement fee may seem like a very attractive prospect for many customers, it is still important to examine the conditions and rates of a particular remortgage offer before committing.
For example, a fee free remortgage may be subjected to significantly higher interest rates so that the lender can compensate for apparent lack of any mortgage fees. Many lenders may also simply be keen to persuade customers with an attractive fee free, discounted mortgage deal, when the rates for the proposed agreement may be disproportionately high.
Put simply, it is worth considering every aspect of a proposed remortgage agreement before any final decisions are made, as many fee free mortgages may often be more costly then they first appear.
In order to determine the viability of a proposed mortgage deal, it may be a good idea to use a mortgage calculator to help determine the average monthly cost of repayments.If you are searching for fee free mortgages, feel free to consult our mortgage comparisons table above for more information.