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What are Arrangement Fees?
Arrangement fees are quite simply that; it's the setting up costs.
These costs vary according to the lender and which of their products you choose. Normally, in the UK, the fee will be around £100 - £400. These costs can be added to your to your loan. You will find that some lenders will ask for cost upfront while others may be OK to waive it.
It's always a good idea to weigh up the cost of your fee with the amount you are likely to save during your introductory period. The fees are most commonly charged at a competitive rate.
Don't forget: The Bank of England base
rate is the interest rate set by the
Monetary Policy Committee. It is set
each month. It represents the minimum
amount that should be charged on any
loans. Inflation is taken into account
in this rate as is the spending and
the general state of the economy.
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