The sums lenders charge to secure the best rates have risen in the past five years – and can make a loan much more expensive
How looser affordability rules may widen UK home ownershipThe spring months are typically the busiest of the year in the housing market as buyers mobilise and sunshine adds to a property’s kerb appeal.
However, today’s buyers – and those remortgaging – need deeper pockets than a few years ago. Not only does the average mortgage rate start with a “5” but borrowers face hefty arrangement fees to secure the best deals. These are the fees paid to lenders purely to secure a certain rate, and come on top of any conveyancing or broker fees.
Continue reading…Mortgages, Mortgage rates, Money, Property, Banks and building societies, UK news, Housing market, Business, Financial sector, Real estateRead More
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