Mortgage deals with no setup fees

If you don't have enough cash to pay the fee up front, think twice before adding it to your mortgage as some lenders allow, Tyler says.

If you do add the fee to your loan, do your best to make mortgage overpayments later to pay down this extra cost, Tyler advises. Mortgage lenders are imposing more than 40 different charges across the market, according to Which? The lack of clarity around these charges, which include lesser-known The lack of clarity around these charges, which include lesser-known costs such as arrears fees and final payment fees, makes them more difficult to spot.

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Lenders often use different names for the same fee, so a booking fee can also be called a reservation or application fee. And some lenders hit you with several. One of the most dangerous is a non-refundable application or booking fee, which is usually charged on top of an arrangement fee, says Adrian Anderson, director of mortgage broker Anderson Harris.

You might forfeit this if you decide not to proceed with the mortgage.

The chances of making a failed application have risen lately, as lending criteria and mortgage rules have been tightened in recent years. Beware, your existing lender may charge you a fee if you remortgage elsewhere, Hollingworth says. Check what your lender charges before switching. With a little effort you can track all these fees down. So take time to read this or seek advice from a broker," says Hollingworth. When choosing a new mortgage with an introductory rate, such as a two-year fix, always check what rate you will revert to once it has expired.

Chelsea Building Society, for example, is riding high in the best buy tables with a two-year fix charging 1. Steve Webb replies Should you back shares where bosses have 'skin in the game'? Who knew they existed?

Get on the bus! The warm winter holiday destinations with far cheaper flights than last year Forget 'chuggers' and nuisance calls Compare true mortgage costs Work out mortgage costs and check what the real best deal taking into account rates and fees. Find the best mortgage for you Check the rates you could apply for. Toggle Search.

In this remortgage guide

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