WackoJacko Posted July 10, 2012 Share Posted July 10, 2012 my current fixed rate mortgage has come to an end. I spoke to my mortgage lender about remortgaging on a fixed rate for 5 years but they want me to pay a product fee of £1k I think this is ridiculous bearing in mind I am already one of their customers and have always paid my mortgage on time and am pledging my money to them for another 5 years. Has anyone had any success in getting mortgage product fees waivered or at least reduced? Cheers Link to comment Share on other sites More sharing options...
Andy Posted July 10, 2012 Share Posted July 10, 2012 my current fixed rate mortgage has come to an end. I spoke to my mortgage lender about remortgaging on a fixed rate for 5 years but they want me to pay a product fee of £1k I think this is ridiculous bearing in mind I am already one of their customers and have always paid my mortgage on time and am pledging my money to them for another 5 years. Has anyone had any success in getting mortgage product fees waivered or at least reduced? Cheers It's unlikely. Have you spoken to an independent mortgage broker to see if there are better deals available elsewhere? Sometimes it works out better to pay the fee to access a lower interest rate. Link to comment Share on other sites More sharing options...
Eckolad Posted July 10, 2012 Share Posted July 10, 2012 No ive never had an mortgage!, cash buyer all the way! Its what can happen when you start of buying a cheap house in ex coal mining area... Link to comment Share on other sites More sharing options...
biotechpete Posted July 10, 2012 Share Posted July 10, 2012 What is the standard variable rate in comparison to the fixed? Is the 1k fee more than the interest difference over the 5 years? That's the only way I'd stack it up. If the SVR is linked to BoE base rate, you'll more than likely be fine for a year or so. Link to comment Share on other sites More sharing options...
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