Experts are warning consumers looking for fixed rate mortgages that they can expect to pay significantly higher costs and fees to arrange deals.
Nearly a third of the UK fixed rate mortgages on offer charge an application fee of at least £750, which is more than most people will be prepared to pay.
Sean Gardner, director of MoneyExpert.com who carried out the research commented, "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."