Booking and Arrangement fees are both up-front fees charges levied at the outset of the mortgage.

A booking fee will normally be required with the application form.

A booking fee is paid to reserve funds on a mortgage product that has limited funds available e.g. a first-come, first-served fixed rate.

Booking fees are often non-refundable, so if the mortgage applicant cancels the mortgage application before completion the fee will not be reimbursed.

An arrangement fee is typically charged on completion of the mortgage.

Arrangement fees are common on fixed and capped rate mortgages.

Frequently they can be added to the mortgage hence the fee does not become an 'out of pocket' expense.

For more information about Booking & Arrangement Fees, contact one of our independent advisers.