Moneysupermarket reports rise in mortgage application costs
www.moneynews.co.uk > Mortgages > Moneysupermarket reports rise in mortgage application costs
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Money News |
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Moneysupermarket reports rise in mortgage application costs
Tue 14th Jun 2011
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As part of a new report, the comparison website revealed that application fees for fixed-rate and tracker products have increased by 13 per cent since 2009.
The company highlighted the difficulty borrowers face when comparing the true cost of mortgages as a result of low interest rates and high costs.
Prospective homeowners have been urged to consider all options when applying for deals in a bid to limit the risk of borrowing unnecessary amounts.
Clare Francis, the company's mortgage spokeswoman, said: "One thing worth noting is that it rarely proves best value to go for a product where the arrangement fee is a percentage of the loan size."
Moneysupermarket.com recently unveiled findings from research conducted by Axa, which revealed approximately 20 million British people have cut their spending habits since the end of 2010.
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