Some mortgage lenders charge this fee to cover their costs of administration and sourcing funds. This fee is not refundable if the mortgage application does not proceed. Often the administration fee will form part of the valuation fee and this part will not be refunded by the lender if the mortgage does not proceed.
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This content of this site is for
information purposes only, as a plain speaking introduction to mortgages.
No claim to the accuracy of information on this site is made and you
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