Mortgage Application fees double

Mortgage lenders have doubled the price of their application fees in just two years, according to Find.co.uk - something we imagine the mortgage providers such as Abbey, Northern Rock and Barclays may dispute!

Find.co.uk asked Defaqto to conduct some research that shows the average application fee for a fixed-rate mortgage has jumped up by nearly £300 to £611 during 2007.

Head of banking at Defaqto, David Blake, stated: "Consumers need to not only take account of the headline mortgage rate, but also the application fee at the outset.

"If you have a small mortgage, the application fee will effectively boost the true cost quite considerably."