Abbey criticised for rate switch fee

clock

Abbey has attracted fierce criticism from brokers following its decision to implement a £199 fee for customers who wish to switch to another product.

The "Product Switch" fee was introduced on Monday and is payable upfront when the customer switches deals and cannot be capitalised within the mortgage. Abbey says the additional charge covers the administration...

To continue reading this article...

Join Professional Adviser

 

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login