Remortgaging

[sammd]

What are the costs associated with remortgaging? Just a valuation fee (and possibly an arrangement fee) with the new company? Is anything usually paid to the company who you're closing the account with?

[dzug]

There's likely to be a redemption fee to the old company, plus (if you are within a tie-in period) a redemption penalty.

Also land registry fees though these may be included in the arrangement/redemption fees and not be paid separately.

[sammd]

What's a redemption fee?

[dzug]

It's a fee payable to a mortgage company in exchange for them doing the paperwork to discharge the mortgage. �100 is not uncommon.

[sammd]

Ah i see, thanks.