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[quote][i]Originally posted by Kerry[/i] [quote][i]Originally posted by Kathryn W[/i] There aren't many mortgages which dont require upfront fee's (higher lending charge i think), we were able to get the fee required onto the final amount of money borrowed so we didnt need another £2k plus upfront. [b]Higher Lending Charge isnt an upfront fee I think you mean arrangement fee? HLC can be added to borrowing I think thats what you were trying to say? Arrangement fee basically secures the deal and is non refundable if you pull out. Not all lenders charge either of these but most of them do so your very lucky to find one who doesnt. Once a case is underwritten and valuars are instructed you more than likely get a valuation charge too :([/b] They're also not offering fixed deals at the minute, a lot are only offering 1-2 years fixed rate. [b]Is 1-2 years fixed rate not a fixed deal then??[/b] :boggle: We got ours for 5 years fixed which was good. [b]How is that good? you will be gutted if in 6 months time all the rates drop and you are stuck on your 5 year fixed deal[/b] :| Best thing to do is go and see a financial advisor that has been recommended, they know all the ins and outs and are able to go onto the fsa and find out a lot more than we can browsing the net/banks etc! [b]I am not sure what you mean about go on the FSA? That wont tell them anything about lenders just about thier own compliance and regulation! [/b] [/quote] Bless I know you are trying to help but I think your a little confused in some areas! Also I dont think some people realise that lenders arnt just pulling out of the market because times are hard the market is moving all the time and lenders have to move with it to balance the books. For example when 1 or 2 lenders starting pulling 100% mortgages all the high risk 100% market moved more towards the lenders that still offered it and they didnt want all the risk so followed suit and pulled it also. This in effect has caused the increase in deposit sizes! I can tell you that the mortgage lender I work for has never been busier and we have hit our years target months ago so things arnt all that bad! [/quote]
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