Exit fees are not the only fees that mortgage holders need to worry about, says MoneyExpert.com. The Financial Services Authority (FSA) has clamped down on the charges imposed by lenders for moving your mortgage to another lender. This means that banks and building societies have been forced to cut exit fees and they may face claims from mortgage holders for overpayments of up to £200.
But in addition to the exit fees, which before the clampdown averaged £136.45, there are seven other fees that affect the cost of a mortgage. Valuation fees average £191.36, but cost rise according to the size and value of your property. If you need a more in depth report on a property, a home buyer survey (recommended by the Royal Institution of Chartered Surveyors) will set you back an average of £344.59.

If you refurbish your home and need a reinspection, then this will cost an average of £57.85, while administration fees for your mortgage will run to an average of £107.61. If your deeds need to be returned to you solicitor this can cost £71.73. If your funds are transferred electronically when your mortgage has completed, then this will cost an average of £29.90. And occasionally there is a fee for transferring your existing mortgage to a new property when moving home. Known as a porting fee, this will set you back an average of £117.86. In theory, mortgage applicants could end up paying an additional £917, and that's without considering the application fees for fixed and discounted rate deals.

MoneyExpert's Sean Gardner said: 'Nobody would expect to incur all eight fees at once, but it is perfectly reasonable to expect lenders to pay the majority of these fees at some point. We all move home and most of us will complete our mortgage, so homeowners should be aware of the potential extra costs. There are providers out there who won’t charge you. With fees entering the spotlight they will become increasingly popular to borrowers looking to keep the cost of moving as low as possible.'