Mortgage rates maybe low but some may come with a catch.

Latest mortgage rates may include some of the lowest ever, but home-owners are finding that with some lenders low rates there is a catch. Mortgage fees for the lowest rate may be very high.

HSBC recently launched a direct-only 2 year fixed rate mortgage at 1.99%. The fee that they charge for this mortgage is £1,999, this means there could be a better alternative which might be more affordable. To find out which is the best mortgage for your circumstances call Deal Direct.

If your head has been turned by an exceptionally low headline mortgage rate you had better have a deposit of 40% or more. Many are finding out that not only are the deposit requirements necessary to be considered for a deal high, but arrangement fees are too.

There are a few exceptions though such as Abbey's broker exclusive 2.89% 2 year fixed rate mortgage for those with a 25% deposit. If you are interested in this mortgage speak to one of our advisers as it is not offered directly by the lender.

Lenders fees have increased significantly over the past 3 years, for the lowest rates fees can reach as high as £2,500.

If you are looking for mortgage advice you are recommended to call Deal Direct, and one of our advisers will help you work out which mortgage deal best suits your needs.

Working out whether a low mortgage rate is worth a high fee can be complex business.

Is a worth paying a high fee for a lower mortgage rate? Contact Deal Direct and we can advise you which is actually the cheapest offer overall. We will search the whole UK mortgage market for the cheapest rate that matches your circumstances.

Call one of our advisers for impartial advice and a quote.