[Lupin]

Not sure if this has already been done to death but I was net surfing mortgage rates today and discovered people seem to have to pay the bank to have a mortgage arranged. We opened an account with ASB from the UK and have had all mortgage charges waived. When she told us this in the branch I assumed $20 or something but it looks like quite a bit more. Also, due to a slight hiccup she reduced the rate on our orbit account (our mortgage will be in three parts until the build is completed and then we merge two of the parts) by 0.5%.

So it seems fees and rates are negotiable and even though we just landed on our feet and got offered reductions before asking, it might pay to negotiate.

Hope this helps someone, although I expect this is on Avalon's thread :o

[incredible hulse]

We arranged through a broker and got $750 solicitors fees paid, free credit card, no mortgage fees and a 2 yr fixed at 7.5% rather than published 7.95%. Worth checking these guys out also

[Trigirl]

we arranged via the bank directly and got pretty much identical deal - $800 solicitors fees paid, free credit card, no mortgage fees and discounts off the fixed and floating portions (can't remember now how much discount). so these deals are available from the banks directly too. it just depends on how much they want your business.

[Moorf]

We also had money $500, deposited in our accounts after completion to go towards solicitors fees, this happened on both our purchases over a year apart. We also negotiated lower-than-advertised rates and got free credit cards.

I haven't actually heard of anyone having to pay to get a mortgage, are you getting a 100% one perhaps?