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Britannia removes arrangement fee
2 October 2006 10:00
Britannia Building Society has eliminated arrangement fees from its remortgage products, making it cheaper for homeowners to switch from other providers.
This new package is ideal for borrowers looking to switch to another lender, but who are impeded by the charges that they might incur in doing so, as it enables them to avoid fees of £829 in total.
Under this deal, homeowners will be able to make a huge upfront saving of £399 through Britannia's decision not to charge for arrangement costs, as well as another £180 on conveyancing fees.
Moreover, they can save an additional £150 with a free standard valuation, assuming that their property is priced at somewhere between £100,000 and £150,000, while a further £100 can be recouped on administration costs.
According to marketing manager Mike Simms, what Britannia's new deal does is effectively rid customers of the cost of switching mortgages.
He added that, given the breadth of its range of remortgage products, homeowners will also be able to choose the type of mortgage that suits them best.
This range includes fixed rate, tracker, flexible and offset products.
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