A ‘sealing fee’ is sometimes also referred to as a ‘discharge fee’, ‘redemption fee’ or ‘exit fee’. The fee, when charged, is usually between £100 to £300 and is stated in your mortgage’s terms and conditions.
The fee is supposed to cover the administrative process involved around sending you your deeds and closing the mortgage account. It should not be confused with an ‘early redemption fee / penalty’ which is entirely different and might be included in your mortgage in the event that you pay off your mortgage early or change mortgage provider or type.
There have been some criticisms of the scale of charges relating to sealing fees in recent years and some have been successful in having their charges reduced or refunded. Although the fee is supposed to be for closing your account, recently,some lenders have taken to charging it when you initially set up your mortgage!
To speak to a mortgage adviser contact us on 01628 507477.
Download our Free First Time Buyers Guide
Recent posts
Almost one in five equity release mortgages are now taken out to provide financial support to family.
Buyers purchasing properties sooner
2 days ago
According to industry data, the expected wait for those looking to buy a property has dropped from just over 11 months to less than six months.
It is common for your first mortgage payment to be higher than your subsequent monthly payments for two reasons.
What to do just before you get your keys
7 days ago
Firstly, a big congratulations, you’ve now exchanged contracts! After weeks and months of waiting, you are about to move in. What should you do first?
The chancellor will deliver her second budget this autumn. Due to slow economic growth and high inflation, the government need to manage a £40 billion shortfall in public finances. There have already been reports about changes to taxes including income tax and capital gains tax.
Landlords could face a new tax this autumn
29 Aug 2025
The chancellor has advised that landlords could have another tax to pay this autumn as the Treasury decide whether to extend national insurance contributions to rental income.
According to a report in the Guardian, senior ministers have asked Treasury officials to look into a “proportional” property tax to see how it would work as an alternative to the existing stamp duty land tax on owner-occupied homes.
More than a quarter of UK adults in long-term relationships (26%) have reported that despite living together, they keep their finances separate from one another.
More information
Trusted by
