Mortgage fee hikes 'spell house price crash'

The news follows an announcement from HBOS that it will charge a £245 mortgage account fee. Cuming says these higher fees have been ‘sneaked in’ to make up for the loss of mortgage exit fees following the FSA’s investigation last year. “[Last Year,] HBOS was hailed for reducing the controversial charges from Halifax deals from £225 to £50,” she says. “Disappointingly it has now decided to introduce a fee of £245 just when borrowers are feeling the pain of increasing rates and the rising cost of living.” Yesterday, the Chancellor criticised mortgage lenders for charging large fees t...