Included in your package are the following forms:
1. Assignment of Deed of Trust by Individual Mortgage Holder;
2. Assignment of Deed of Trust by Corporate Mortgage Holder;
3. Letter of Notice to Borrower of Assignment of Mortgage;
4. Letter to Recording Office for Recording Assignment of Mortgage;
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Consider the listed steps to complete your Mortgage Package Fee:
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An arrangement fee is what you pay for the lender to set up your mortgage. Arrangement fees vary significantly. You can usually choose between paying the arrangement fee upfront and adding it to the mortgage. Ultimately, though, it will cost more to do the latter as you will pay interest on it.
Early repayment charges are usually calculated as a percentage of the amount still outstanding on your mortgage. The typical amount is usually between 1% and 5%. Often, the cost depends on how far you are into your deal.
The fee is usually paid once you're ready to complete the deal and is commonly added to the mortgage amount or taken off the balance received. It's worth noting that this fee is typically non-refundable so, if your deal falls through after it's paid, it's unlikely you will get this money back.
Hear this out loud PauseAn arrangement fee is what you pay for the lender to set up your mortgage. Arrangement fees vary significantly. You can usually choose between paying the arrangement fee upfront and adding it to the mortgage. Ultimately, though, it will cost more to do the latter as you will pay interest on it.
The Product fee may be paid up front, added to the first direct debit payment or it can be added to the mortgage (not applicable for customers with an Interest Only mortgage). If choosing the latter, the fee will be added to your mortgage balance when the product switch completes.
