Mortgage fees double in two years

Analysis by eMoneyfacts.co.uk reveal an average flat arrangement fee in November 2005 stood at £441, but has now climbed to £827. The firm adds another telling statistic is the fact that a “massive” 9% of prime deals now charge a percentage fee. David Knight, mortgage analyst from eMoneyfacts.co.uk, says: “Thousands of borrowers coming off a two year fixed rate will be bracing themselves for higher interest charges, with the best deals over 1% higher than in 2005 “But they will also need to prepare themselves to pay much higher fees, with the average fee rising 100%. “The use of percent...