Eeeeee Gabriel, yes - over 2 years it would be cheaper to pay the 6.6% tracker Halifax were offering me (hilarious rate).  Or the hilarious 6.3% fixed rate. But then I have to go through the whole sheebang again in 2 or 3 years time.  So no, in the longer term it's cheaper to do this, switching over to this Coventry deal.  Total Cost on Halifax would be around 6.8%.  Total cost on Coventry is about 6.2%.  No competition ;).

My point was really that everyone who has to do anything, even if it involves opening the mail and filling the contents into a draw, will charge you as much as they can and there is not much you can do about it.  I got a response from the management company about how they fix their charges for this.  I wanted a breakdown of their costs (£64).  The reply was:

"We are instructed by
our Directors to charge these fees in accordance with the terms of the
Lease/Transfer."

In other words, the Directors decided they would charge you that much and so that's how much they are going to charge you.  No attempt is made to make this cheaper for you.  There is no competition for your attention you see (apart from in the new mortgage market).  The lender tries to make it hurt a little when you leave (release fees) and everyone else wants a piece from you if they can possibly get some.  To me, it's all a little parasitic and I'm a guy who stopped reading Noam Chomsky books when he left University.

Administration fee (Coventry) £199,Product fee (Coventry) £800
 - Most mortgage companies do a fee free remortgage product - but the interest rate is higher - so its down to you to see which represents the best value for your circumstances.

Administration fee (CPM Asset Mangement) £64,Administration fee (freeholder) £?? (who knows but bound to be similar) - If you buy a leasehold property you need to be aware of fees - before you commit to buy.These fees are out of your control so anything could happen.

Mortgage Release fee (Halifax) £175 - I'm afraid all mortgage companies charge something when taking their names from your deeds - these should have been quoted when you took the mortgage out.

If all these fees worry you - are you better off staying with your present lender??? 

All of that comes before other forced taxes and charges such as stamp duty, Solicitors, indemnity policies, searches etc.. etc the list never ends, Ohhh ...... and not forgetting the forced & unwanted introduction of HIP packs on your property all plus VAT which replaced purchase tax on luxury items in the old days, by the way, they must consider a house a luxury, it's a good job we don't still have to live in caves or they too would be classed as luxuries !!!,

They bring all these charges to bear at a time when they have you by the short & curlies and when there is the smell of liquid cash in their parasitic noses.

They make me puke.!!

There is nothing like a remortgage to really turn me into Victor Meldrew.  The charges involved in a simple remortgage are incredible.  I mean it isn't like I have any choice in the matter, given I bought an apartment with a "management company" and the flat is leasehold.  It isn't as if I can go to another management company who happen to have lower charges and use them instead.  I'm locked in to these people for the duration.  Anyway, I'm sure they are all the same.  Regardless, here is my list of costs so far, for transferring my mortgage from one provider to another (end of fixed term rate, uncompetitive renewal rates with current bank, so moving to another):

Administration fee (Coventry) £199
Administration fee (CPM Asset Mangement) £64
Administration fee (freeholder) £?? (who knows but bound to be similar)
Product fee (Coventry) £800
Mortgage Release fee (Halifax) £175

Luckily the new bank are paying the conveyancing costs and valuation cost.  The latter was a joke.  A man comes into my apartment with a tape measure, stays for ~7 minutes and then leaves to go look up what similar properties sold for recently.  In other circumstances his charge may be over £200!  I could have done his job for him and saved the bank a lot of money.  Am I in the wrong business?  I should do valuations.

It seems to me, that nobody is particularly interested in reducing costs here, because all of these people with their snouts in the trough are feeding quite happily - as long as us pesky customers don't squeal too loudly - and even when we do, they don't really give a *** because it's all legal.   I even asked the management company for a breakdown of their costs, ie. why does it cost me £64 in administration when I change my lender?  No response.  They even charge £29.99 to pay the management fee by direct debit!

It's enough to make me want to rent again.  I hate having to bend over and take it.  To add to the misery, I expect my apartment value is going to fall over the next few years.  So I wonder, what exactly is the benefit to owning your own place again?  I've forgotten!!!!!