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 New research has today (June 12th) suggested that the number of fixed mortgages with high fees has increased by a staggering 1,368 per cent in the past 18 months.
Independent financial website MoneyExpert.com conducted a study which shows that in September 2006, just 22 fixed mortgage deals charged application fees of £750 or more.
However, that figure now stands at 323 - representing 33 per cent of the total market - as lenders get tough on customers seeking the best deals in the current housing crisis.
Sean Gardner, the website's director, said: "Such high mortgage application fees will come as something of a shock to many homebuyers. We're just not used to these levels of charge.
"Anyone looking to remortgage or to buy a property for the first time will need to recalculate their options if they haven't factored in fees.
"The days of fee-free mortgages are over and frankly getting anything under £1,000 is something of a coup."
The research also shows that average application fees on fixed mortgages have risen by 66 per cent over the same period, reaching £860.25 from the previous level of £517.19.
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