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Banks Cash In On Mortgages With Average Fees Of £1,000 That Have Leapt 20 Per Cent In A Year

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Mortgage fees have rocketed by nearly 20 per cent over the past year, research has revealed.

The average arrangement fee has soared to more than £1,000, while the highest such fee is an eye-watering £3,800.

Research by mortgage price comparison website Moneyfacts found the average charge has jumped by £151 over the past year to £1,030. Last August the charge – which many regard as a fee for nothing – was £879.

If Mystic Merv reads HPC here's something else for you to slip in your letter to Osborne you can blame higher inflation on the banks for charging higher arrangement fees.

If I was to pay £3,800 I'd want the mortgage rate fixed for the entire mortgage and no get out fees.

Anyone know who is/was responsible for the £3,800 fee?

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