Fixed rate fees rise
Fixed rate mortgages have become more popular with homebuyers as interest rates appear to be on the rise. Application fees for fixed rate mortgages have increased by around 18 per cent since August 2006. Since the first rise in August the number of mortgages that have a fee of in excess of £750 has risen from 13 to 93. The number of fixed mortgages with fees under £500 has slipped from 349 to 251.
House prices did dip in December of last year but saw a rise in January of 1.3 per cent. Mortgage lenders like to appear at the top of the 'Best Buy' league tables and so although they have cut the headline interest rates, they have loaded the fees. It is estimated that the average cost to change your mortgage would be around £900. | 
