Mortgage lenders' review of the services they ask fees for has led them to alter charges, according to the director general of the Council of Mortgage Lenders (CML).

Mortgage lenders' review of the services they ask fees for has led them to alter charges, according to the director general of the Council of Mortgage Lenders (CML).

Michael Coogan told Breakfast, the BBC Radio Five Live programme, that the reconsideration of mortgage fees comes at a time when the interest rate environment is "highly competitive ".

He said all mortgage lenders should review what mortgage services they are asking a fee for and whether they are charging the right amount.

In defence of higher mortgage fees, the CML director general added: "It may simply be they [mortgage lenders] haven't been charging enough in the past.

"In many cases they simply have been subsidising that exit fee work by other areas of the business."

Last month, the editor of Moneywise magazine, Emma-Lou Montgomery, commented on the competitiveness in the mortgage market.

She said traditional mortgage lenders have had to "up their game".