Mortgage Closing Fees - Lenders have Been Told Off On Mortgage Closing Fees

Some good news from the regulators.
At last the mortgage lenders have finally been told that they cannot impose fees on customers when they close a mortgage that are out of all proportion to the cost of administering that action nor raise closing fees far above what was originally agreed in their contract with their customer.

Make a Claim for Past Overpaid Fees

The way has also been left open to people who have had to pay unusually high costs in the past to make a claim too - though it is better to have the documentation to prove that they were unreasonably overcharged.
Just a footnote though. This change has nothing to do with Early Redemption Penalties (ERCs) - these are another matter where you are on your own.
On ERCs lenders can and will still be able to charge what they like. After all, they have to make up for those headline grabbing low rates somehow.

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