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Mortgage
Guide
Click for Full Contents
The Costs of a Mortgage in the UK
Why The Mortgage Lenders are So "Greedy"
Over the last few years, peoples' behaviour with regards to mortgages has changed:
* Nearly 25% of borrowers change mortgages every year
* It's normal to remortgage every 2-3 years to get the best
interest rates
* Moving between lenders is much more common
This
has led to fierce competition between lenders, as they vie
with each other to offer the lowest headline rates. The result
has been a tightening of profit margins for many mortgage
lenders, and has prompted some of them to start increasing
their fees in order to recoup some of their lost profits.
Despite
this competition, fees and charges still vary widely between
lenders:
* Arrangement fees can range from £0 up to 1%
or more of the loan amount
* Exit fees can vary from £0 to around £300
* Remortgaging fees also vary widely
It
is more important than ever to shop around if you are looking
for a mortgage - whether it is a remortgage or a first mortgage.
You will be sure to be offered a wide range of deals, some
of which will be much more suitable for your needs than others.
A good independent mortgage advisor can be invaluable here,
as they will already be familiar with the different lenders'
rates, policies and fees, and will be able to understand your
circumstances and help you find the best overall package.
To read more on this subject please see the list below or your mortgage guide or your home buying guide
Read enough? Just want a quote? To get your best mortgage quote quickly and easily we can put you in contact with a recommended mortgage adviser. It's free, completely confidential and there's no obligation at all. Simply fill out the form below
Read On
The Costs of a Mortgage in the UK
General costs of getting a mortgage
Hidden / True costs of home buying and mortgages
Charges at the start of a mortgage
Arrears Fees / Costs of falling behind payments
Fees for changing your mortgage
Final Payments / Mortgage Exit Fees
Why The Mortgage Lenders are So Greedy
Read On / Mortgage Guide
How
to Choose your Mortgage
Types of Mortgage
Remortgages
Where to Find Your Mortgage
Getting a Mortgage in Principle
Read On
Guide to Buying a Home in the UK
Guide to UK Home and Mortgage Insurance
Browse over 200 Free Mortgage TipsYour Complete Guide to UK Mortgages Find Out How to Win the Race to Buy Your Home - Home Buyers Guide Learn How to Save ££s by Remortgaging Read the Insider Info on Home Insurance Site Help |
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