The average fixed-rate mortgage fee has fallen by 2.5% in the past 12 months, according to Moneyfacts. The typical mortgage now has a fee of £1,022 compared with £1,047 a year ago. Meanwhile, there are 1,715 loans available which do not charge mortgage fees. Rachel Springall, of Moneyfacts, commented: “Lenders may well be cutting fixed-rates to enticing lows, but not all borrowers will be drawn in by the initial rate alone. Indeed, there could be borrowers who want to save on the upfront cost of the deal, such as with fees or paying out on other fundamentals.”