Fees free Mortgage Products without Arrangement Fees – Great for First Time Buyers
Ever felt like lenders charge you excessive fees for the privilege of accessing a mortgage from them? Many customers have.
It the good old days the fees used to be reflective of the administration work undertaken by the lender to process the application – now they can bear no relation at all!
It is not uncommon for lenders fees to range from £500 to 2.5% of the loan, with the most common being about £1,000.
That is why I thought you may be interested in the latest range of 2 Year Fixed rate products from Abbey for Intermediaries:
- There is NO arrangement fee.
- Free valuation.
- £250 cashback.
- Fixed to 2 July 2015
RATE | APR | MIN DEPOSIT |
2.99% | 4.6 | 30% |
3.19% | 4.6 | 25% |
4.29% | 4.8 | 20% |
4.75% | 4.9 | 10% |
Current as at 10th May 2013
This type of Fee free mortgage products typically suit first-time buyers as they are often the ones in need of a higher loan to value product typically around 85% to 90% loan to value. By saving on these additional fees the applicant has often got more to spend on furniture or light decorations when they have moved into the property. Not forgetting the additional savings can also be put towards stamp duty and buildings and contents insurance which need to always be calculated.
To find more about this amazing offer and other fee free mortgages just complete out Contact Form on the right-hand side of this page.
Payam Azadi is a partner at Niche Advice Ltd who are Independent Financial and Mortgage Advisers in London.
Author: Payam Azadi
Payam Azadi is a partner at Niche Advice who are whole of the market Independent Mortgage Brokers. His role is very much focused on Property financing both on residential and commercial lines. To get in contact with him please click here.
