Britannia remortgage admin fee slashed

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Britannia remortgage admin fee slashed

Wed 27th Sep 2006

The administration fee on a Britannia remortgage has been cut as competition within the industry increases.

Britannia Building Society has announced that it is planning to drop the arrangement from its remortgage products as well as offering a free standard valuation and free conveyancing.

The Britannia remortgage deal could result in the average customer saving around £829 compared to other remortgage products available to consumers and could convince homeowners that remortgage makes financial sense in the long-term.

Typical arrangement fees can cost around £400, with a standard valuation prices at £150 and administration fees costing around £100.

Mike Sims, marketing manager at Britannia, explained: "With Britannia covering the cost of switching, customers are saving hundreds of pounds on their mortgage."

He added: "In addition, the offer applies to our entire remortgage range, so customers can choose the product that best suits their needs."

Britannia remortgage products include loans with fixed rates, tracker options as well as flexible and offset ranges.

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