It’s been a sad fact that application fees on fixed rate mortgage deals have more or less doubled in the last 12 months according to current research.
In the last year alone, the fees on the five most competitive two-year fixed deals have moved from an average of 999 up to 1,478. And for three-year deals the average level of fees has moved from just 578 to 1,132 now.
If you go back to last October when the base rate was 5.75% the average two year fixed deal was at 5.68%. The base rate is now 5% but the 2 year rate is still 5.57%. Three year fixed rate deals are also more expensive compared to the base rate. They have gone down from 5.84% to 5.65% in the same period.
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