The “mortgage arrangement fee” saga and The Government

Here is the response I got from Vince Cable’s department about an email to them moaning about +£1k arrangement fees for mortgages…..


“In your letter you express disappointment with the mortgages currently available to you in the mortgage market. The mortgage market offers a wide range of products to suit different people and circumstances. Decisions concerning the pricing and availability of loans remain commercial decisions for lenders, and the Government does not seek to intervene in these.

I am sorry to write with what may be a disappointing reply but I hope you find it helpful to understand the Governments position”


I’m glad to see that it is not just undergrad psychology students who can’t use an apostrophe!


In my job, when I bill people, I have to break it down in excruciating detail what I’m claiming for. Perhaps we all need to make banks justify exactly what is included in “mortgage arrangement fees”, including hourly rate of staff. I’m most pissed off because I signed up for a tracker mortgage, not a fixed rate one, which they would only give me for two years. The mortgage advisor was completely incapable of explaining to me why a tracker mortgage should be for only two years.


We, the public, bailed out these banks….why should we get stung again with such ridiculous fees?


Am I talking out of my ass?

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