Mortgage providers are very ingenious when it comes to making money and have devised numerous other fees that they can charge you during the life of your mortgage.

Anything that results in a tiny bit of extra work for your mortgage provide is likely to incur a fee. Some to watch out for are:

Charges for missing a payment 
 
If you miss any payments or make your payment late you are likely to incur extra fees.
 
If a cheque fails to clear or your direct debit is not processed your mortgage lender will often charge you a fee for letting you know – generally between £30 - £50.
 
These fees can stack up quickly. If you previously had a good payment record and contact your mortgage provider before missing a payment you may be able to negotiate for the charges to be waived – it is important not to bury your head in the sand.

Fees for changing your mortgage 
 
If you want to change anything to do with your mortgage agreement, for example changing the repayment method, it is likely to incur an admin charge.
 
Other examples of things that might incur a charge include adding someone else’s name to the mortgage agreement or letting out the property.
 
You are also likely to be charged if you ask for any extra documentation, such as a copy of your mortgage agreement.