Mortgage fees reach a record high.

Home-owners are advised to be wary of bargain mortgage rates that come with high fees. It is important to realise that jaw dropping headline rates do not always add up to the best or most affordable deal.

Mortgage fees which have risen by over 70 per cent in the last three years, have become a significant factor in determining which is the most affordable and competitive deal on offer.

According to new figures released by Moneyfacts.co.uk, average mortgage fees are now £1,511, which is an £878 increase from average fees charged in 2009. This is an average fee, in some cases the best mortgage rates attract fees of over £2000, which for a small loan or short term is a substantial amount of money.

Those looking to remortgage and switch lenders are warned that remortgage fees are equally high.

With fluctuating mortgage rates and high fees would-be buyers and home-owners looking to remortgage are advised to contact Deal Direct who are an independent 'whole of market' broker. We make searching for the best deal easy.

Lenders are attempting to increase their falling profits with the introduction of high fees and charges. While on a large loan or over a long term, a high fee for a low rate many be beneficial, it is not the case over a short term or for a small loan.

Deal Direct are up to date on lenders rates, fees and mortgage criteria. We review all deals factoring in fees and charges against the headline rate to come up with what are the most affordable offers.

Let us make your life easy by searching out a cheap deal, we will ensure you do not get caught out by a less attractive offer with hidden charges which could cost you more over the long term.

For a comparison for the most attractive and affordable mortgage deals on offer contact Deal Direct.