COMPLETION FEE; APPLICATION FEE; ARRANGEMENT FEE; RESERVATION FEE; ADMINISTRATION FEE
In other words
All names for the fee payable either when applying for a mortgage or when it has completed. Usually between £300 and £500, thoug
Definition
All names for the fee payable either when applying for a mortgage or when it has completed. Usually between £300 and £500, though sometimes higher, this is charged by lenders to cover administration costs and, occasionally, the cost of reserving the money on the buyers’ behalf if bought from the money markets. Note that if the fee is charged up front and the deal is not completed, it is often non-refundable.
