Hot Topics

What Will The Initial Costs Of Buying A House Be?: Before you actually move into your new property – you will have to pay a series of initial costs to cover the following:
What Is A Mortgage Indemnity Guarantee (MIG) And Will I Have To Pay It?: The Mortgage Indemnity Guarantee is also known as a Mortgage Indemnity Premium or High Lending Fee. It protects the lender against the risk of you defaulting on your mortgage debt.
What Happens If I Want To Move Home?: Moving home is basically the same as moving into your first home, in mortgage terms. You are free to find yourself another mortgage with either your existing lender or another lender – and can shop around for the best deal on the market.
Low Setup Cost Mortgages: When you apply for a mortgage and to buy a property, there are certain initial costs that are, on the whole, unavoidable.
Equity Release: Equity Release is a means of using the value of your home to receive either a lump sum of cash or regular monthly instalments.

Will I Have To Pay An Arrangement Fee And How Much Will It Be?

The Arrangement Fee is also known as an Administration or Application fee and it’s designed to cover your lender's administrative costs for setting up the mortgage.

You will usually have to pay the Arrangement Fee up front, and it will cost around £200. Some lenders may refund the fee when the property purchase has gone through completely but if the deal falls through, you will lose the fee you paid. Your lender may use different terminology to describe this fee, or it many include the cost of the Valuation Fee. In any case, most lenders will charge you for the administration of the mortgage.