Remortgaging can be expensive. There are several fees associated with switching.
- Early repayment fees - you have to pay if you pay back earlier than expected!
- Exit fees - to leave a mortgage can cost money, usually between £75 and £300 depending on your lender
- Broker fees - personalised advice on mortgages isn't free
- Valuation costs - switching lenders might mean a new valuation, and new valuation costs
- Completion fees - also known as arrangement fees, this is the lender's charge for setting up your mortgage