Arrangement Fees - Cheap Mortgage Deals

Lenders are known to charge arrangement fees or fees for setting up your mortgage to cover any work involved in arranging your mortgage. These fees are usually added to your mortgage and differ from mortgage to mortgage. The arrangement fees are paid directly to the lender and the mortgage advisor does not receive any of this fee.

Those with adverse credit will find that the charges are higher than for a standard product. Likewise a Buy to Let mortgage usually comes with higher charges attached.

Some mortgage advisors will charge a minimum fee for the work they undertake in sourcing the correct mortgage or remortgage product, although it is more usual for advisors not to charge a fee unless the mortgage product is of relatively low value. In this case the fee would be for around £200 and is charged to the borrower.

Generally the mortgage advisor will receive their payment direct from the lender.