The average fee on a fixed-rate mortgage has fallen by 17% in the last four months, new research suggests.
But fees on variable rates are virtually unchanged and brokers are expecting fees to start rising across the board, according to new research from the Nottingham Building Society.
Its analysis shows average fees are now £711 against £860 in November last year, a drop of £149.
On variable rates, average fees have edged down only slightly from £727 in November to £719 today, saving just £8.
Mortgage brokers are warning fees could start to rise, according to the Nottingham, which offers a mortgage service that searches the whole of the market to find the best deal for customers.
Some 30% of mortgage brokers now believe mortgage fees will increase over the next two years, against just 12% who expect further falls.
Part of the reason may be pressure on rates and less competition among lenders. Over the next six months, 23% of brokers anticipate mortgage rates will rise against 16% who think they will fall.
Ian Gibbons, senior mortgage broking manager at Nottingham Mortgage Services, said: "Whatever happens to mortgage rates and fees, there are so many products to choose from if you shop around and receive the right advice, you can still find a really competitive deal that meets your specific needs.
"Our research shows that there are now 4,139 residential mortgages on the market, compared to 4,020 in November last year, and 3,027 in November 2011.
"So, in just over three years the number of residential mortgages on the market has increased by around 37%.
"In order to grab the headlines with a market leading low rate, sometimes lenders will charge a higher fee to offset the lower margins they make on the rate, whereas some lenders will charge lower, or even no fees, but offer a slightly higher rate."
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