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Booking Fee and Arrangement Fee Both are up-front fees charges levied at the outset of the mortgage

This is usually linked to the amount of cashback provided

It is common practice for lenders to pass this charge on to the borrower

This mainly occurs in a sellers market or where the property is of rare value

Capped mortgage Capped mortgages have a limit to any increases in the variable rate, for a selected period of time

The costs will be greater for house purchase than for remortgage

ISA The Individual Savings Account (ISA) is a tax free method of saving

However, most vendors are reluctant to take the hit on the full amount

It is normal for lenders to charge up-front fees in the form of booking and/or arrangement fees

In addition the lender has no way of tracking some of the more modern repayment vehicles, such as an ISA, which will result in some instances where a borrower lets an investment lapse forgetting or not realizing it is to be used to pay off the mortgage

£200 to a percentage of the loan e

Reductions or increases in the rate will result in a direct increase or decrease in the monthly payment to the lender

If asked, the seller will let you know how they would like to proceed

The premium is usually charged when borrowing is in excess of the amount the lender considers they can safely lend and be assured of their money being returned if any future financial problems occur

This type of mortgage is often taken out in conjunction with other offers such as cashbacks

Avoidance of early redemption penalties