A Moneyfacts report found that the number of lenders offering free valuations and free legal fees has declined since 2008, with less than half of two-year fixed rate mortgages now offering such perks.
The number of free valuations offered to customers looking to remortgage has declined from 53% to 47% with those offering free legal fees falling even further, from 51% to 44%.
There was also a huge decreased in the number of providers offering free accident, sickness and unemployment (ASU) insurance policies, declining from 19% in 2008 to just 0.06%.
Sylvia Waycot of Moneyfacts said: “It can be argued that the removal of these additional benefits is more than compensated for in the lower true cost of the mortgage.
“However, most remortgagers are looking to raise funds with the minimum outlay, so the decline in free valuations and legal fees will be a bitter blow.
“Less than half of two-year fixed rate mortgages now offer these benefits, so shopping around is vitally important.
“The demise of ASU insurance at a time when money is tight and people are worried about job security adds another layer of misery.
“This insurance provided protection for at least three months at no additional cost but it is now out of reach for many.”
