Watch out for fixed rate mortgage headline rates, says moneysupermarket.com
www.moneynews.co.uk > Mortgages > Watch out for fixed rate mortgage headline rates, says moneysupermarket.com
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Money News |
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Watch out for fixed rate mortgage headline rates, says moneysupermarket.com
Tue 28th Sep 2010
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Site editor at the firm Clare Francis pointed out that a high arrangement fee can mean a previously competitive deal loses its sheen.
She explained that partnering low interest rates with high fees is a strategy lenders sometimes employ to make a "marketing impact", rather than to offer any great savings.
"When it comes to looking for a mortgage, borrowers mustn't be blinded by attractive-looking headline rates," said Ms Francis.
The moneysupermarket.com representative suggested people should look at the total cost of a home finance deal over the course of the term by combining fees with the interest they will pay.
This week, the same organisation advised homeowners to check their insurance policies to see if they are covered against subsidence, since the UK has just experienced a very dry six months relative to previous years.
Click here for more mortgages news
Related News : Mortgages |
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