Beware the mortgage rates war - look at hidden fees!
The war is on between lenders releasing lower and lower rates to attract borrowers. We are once again back to the days of ultra-low rates, however all is not as it seems - beware the high fees.
In the last fortnight HSBC, Nationwide and Yorkshire BS have all cut rates to new lows, however before accepting any offer look at the fees being charged. There is a balance to be had between rates and fees. A low rate offer might work out far less competitive overall if the fee charged is high.
Borrowers need to make a like-for-like comparison to see which is the most affordable mortgage – a low rate deal with a high fee, or a higher rate deal that is fee free. Making the calculation can be complicated, and therefore don’t go it alone when looking for a mortgage, seek independent ‘whole of market’ advice.
At Deal Direct we make a like-for- like cost comparison of all products to find the one which truly is the most affordable overall.
Our advice is independent and impartial, and solely based on your needs. If you would like to find out what deals are on offer at your deposit/equity level call us on 0800 048 8828. Alternatively, you can make an online mortgage search by clicking the button below.
For advice and a competitive offer,
call 0800 048 8828.
