Fee free mortgages are not really different from regular mortgages and can come in many forms. These mortgages are distinguished as fee free mortgages because of the fact that the lender will pay for the initial fees associated with a property purchase.
Be careful before opting for a fee free mortgage. In most cases the interest rate charged, even discounted, is higher than that offered for regular mortgages and it may be much more expensive for the long term.
Also, a fee free mortgage is free of fees at the beginning (initial fees) and you will still have to pay exit fees. For more information, please refer to our mortgage fee guides.
