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Further advance legal fee |
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Further advance legal feeA fee that is normally charged when you apply for a further advance of money on your mortgage. This covers the necessary administration to ensure that the lender's legal charge over the property is maintained when further money is lent.Further advance legal fee Similar MatchesFurther advanceFurther advanceThe raising of capital by a borrower from his existing mortgage lender.This might happen if:the value of the borrower's property has increasedthe borrower's salary has increasedthe borrower wants to have a higher mortgageIn these circumstances, the lender will probably be happy to lend more money to the borrower provided he can afford the higher repayments. Further advanceFurther advanceYou can sometimes have the facility to borrow further funds once you have been paying your mortgage for a set period of time, especially with a flexible mortgage. A fee is charged by your lender to cover the cost of assessing the merits of your application. Costs £50 - £100 |
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