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Your costs explained

There are a number of fees associated with house purchase and / or re-mortgage. It is our job to not only make our clients aware but to take them into account when recommending a suitable product.

Arrangement Fee

Charged by the lender on many loans offered. This can be either a fixed amount or a percentage of the loan.

Valuation Fee

Payable to the lender who will assess the property as suitable security and value for their purposes.

Early repayment charges

These charges may be applied by the lender if repayment is made on a mortgage during the period of a specific deal.

This may also apply if looking to switch between mortgages during the deal period. It is important that these are fully understood. These fees can be significant and our advisers will take into account on any recommendation made and make clear if they apply to any applicant.

Redemption Fee

Once again charged by the lender on redemption of the loan to cover legal and administration costs.

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Conveyancing Fee

Covering the legal work associated with purchasing or re-mortgaging a property.

Stamp Duty

Stamp Duty Land Tax (SDLT) must apply if you buy a property or land over a certain price in England, Wales and Northern Ireland. Thresholds and rates are subject to change but will be taken into account in the 'Planning' stage of the advice process.

Mortgage Advice Fee

Payable to Michael Chandler Mortgages Choices for the advice, application and support services associated with the new mortgage. We will remain available to review the mortgage at regular intervals to ensure that the product remains suitable.

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This will be dependent on your personal circumstances and requirements at the time.

Speak to one of our Specialist Mortgage Advisors today…

Whether you're planning on upsizing or downsizing, we can help you understand your options and start your next exciting chapter.

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