The best mortgage rates often come with the highest fees.
Lenders best mortgage rates often come with high fees. To be able to offer eye catching low headline rates lenders need to make profit elsewhere, and today this is in the form of fees.
Headline rates therefore are no longer a true indicator of the affordability of a deal, currently when calculating which is actually the best mortgage deal on offer all factors need to be considered.
Lenders do offer low fee or fee free options, therefore would-be borrowers need to work out is most affordable - a low rate deal that comes with a high fee or a lower fee deal with a higher rate.
Contact Deal Direct and we can help you work through which type of mortgage is best suited to your circumstance.
Generally those looking for larger loans often find it financially beneficial in the long term to pay a higher fee for a lower rate. However on this point it is essential to find out exactly what the fee will be as fees can be a percentage of the total loan agreed.
Lenders best mortgage rates are increasing and could go higher as concern over the eurozone crisis intensifies. Lenders are increasing rates to cover the fear of bad debt and this situation is not likely to change soon.
If you are looking for lenders best mortgage rates and need help to decide which is the best deal for you contact Deal Direct for independent mortgage advice.
Call Deal Direct today.
