Borrowers warned on non-refundable mortgage fees

According to Charcol, Abbey has now introduced a non-refundable fee of £150 on its mortgage range. Previously, only Lloyds TSB charged such a fee, set at £99, but Charcol expects more lenders to introduce the charge in the near future. “This is just another step in the complete about turn in the mortgage market from just a year ago,” Drew Wotherspoon, communications director at Charcol, says. “Consumers have been king for many years now, with lenders fighting for their business, often at loss leading rates, but that has been consigned to history and these booking fees are another stark r...