MoneyExpert highlights rise in fees for fixed mortgages

  • By Justine Coombe
  • 16 June 2008

News by Simply Business - independent providers of public liability insurance, business finance and landlord insurance.

Financial comparison site MoneyExpert has identified a rise in the fees charged for fixed rate mortgages.

The site has revealed that the number of fixed-rate mortgage deals with fees of more than £750 has increased by a factor of 14.

Indeed, the organisation has noted that moving property is becoming increasingly expensive.

"Such high mortgage application fees will come as something of a shock to many homebuyers. We're just not used to these levels of charge," said Sean Gardner, director of MoneyExpert.

"The days of fee-free mortgages are over and frankly getting anything under £1,000 is something of a coup."

It was also observed that in September 2006, the number of fixed-rate mortgages with fees of more than £750 was lower, at a total of 22.

Established more than two decades ago, the company offers advice in a number of different areas, including insurance and equity release.

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