The cost of taking out a Mortgage. Part 2 is going up.
Years ago exit fees were as little as £90 so they were really
insignificant - but now you can be charged up to £300.So now you do need to take them into account if ( travel insurance ) you are thinking about remortgaging.
The highest exit fees are charged by Alliance & Leicester at £295 followed by The Woolwich at £275, Northern ( online car insurance ) Rock at £250 with The Halifax, Cheltenham & Gloucester and Abbey all coming in at £225. Most of then others charge around £200. It's those lenders at the bottom end of the charging spectrum that are most likely to push up prices in 2006.
The point that has angered many borrowers is that the mortgage companies ( pet insurance ) can sell you a mortgage, inform you what the existing fee is and then simply hike it up behind your back. Then when you come to move, you've got a nasty surprise - the exit fee is much higher than you were told when you first entered into the mortgage contract.
If you think that a way around the exit fee is to move to a new mortgage deal with your existing ( Car insurance quotes ) lender, you may be jumping out of the frying pan into the fire. Whilst you are not likely to have to pay an exit fee, they are likely to hit you with a ( unsecured loans ) "product transfer fee" which may not be much cheaper, if any!
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