The best mortgage deals aren’t always the ones with the lowest rates.
All too often home-owners looking for a mortgage are drawn to ultra-low rate offers. Deals set with incredibly low rates are difficult to ignore.
However when considering your options, be aware that lenders have a tendency to offer their lowest rates with a sting in the tail. This is in the form of a high fee.
Take for instance news of a new 1.99% 5 year fix on offer from HSBC for 60% LTV.
Currently this is one of the lowest rate deals offered market -wide. However when digging further this deal actually isn’t as competitive as you would first think, because it comes with a hefty £1,999 fee.
Fees impact the overall affordability of any mortgage offer, and so you should factor in this costs when comparing mortgages. This however is easier said than done, and when going it alone homeowners can find they end up with a less affordable mortgage overall.
To avoid this happening and ending up paying more for your home than you need to, seek impartial mortgage advice from us at Deal Direct on 0800 048 8828.
Contact us and let us know your mortgage requirements, and we will search the market on your behalf to find you the mortgage which really is the most competitive overall.
Call 0800 048 8828 for a competitive quote.
