What are mortagage arrangment fees?
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constantia
Apprentice
Joined: 15 May 2007
Posts: 2
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 Posted: 01/07/08 - 09:27 Post subject: |
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| My child decided to move out and I would like to help him by giving him some money. I don’t have enough money, unfortunately, but I have ability to get a mortgage. I’m not planning to waste it. The lender I’ve managed to reach told me that I’ll have to pay for something called mortagage arrangment fee, but I have no idea what does that mean. Can you give me some better clue? |
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jandy
Apprentice
Joined: 06 May 2006
Posts: 4
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| Posted: 02/06/08 - 00:19 Post subject: |
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| They are often giving you choice. Either you pay administration fee, either you get to pay that, so-called mortgage arrangement fee. As I understood that, it’s some kind of reservation, it’s supposed to be paid in advance. Or, I think that you can also pay that during your mortgage repayment, only your loan will be a little higher. But you get to pay it on fixed rate. |
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