Product fee
Mortgages & secured lendingA fee charged for a specific mortgage or loan deal.
Overview
Product fees are common on mortgages and some loans.
They can be paid upfront or added to the loan.
Why it matters
- It affects the total cost of borrowing.
- Adding it to the loan increases interest.
- It helps compare deals accurately.
FAQs
Is a product fee worth paying?
It can be if the interest rate is significantly lower.
Can I add the fee to the loan?
Often yes, but it increases total interest.
Related terms
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