The Mortgage Finance Blog

Although a really cheap headline rate of interest may look very appealing, it may well work out to cost you far more than you might think. In the current economic climate lenders are frequently increasing their fees to subsidise cheaper rates. Very often the fees are large enough to make the total cost outweigh the benefits of the cheaper mortgage rate. By way of an example, a two year rate of 3.09% with a £995 lender fee works out more expensive than a fee free product at 3.69% based on a £100,000 repayment mortgage.

As mortgage brokers not only do we have access to mortgage sourcing systems which allow us to compare mortgages from all lenders, but we have a range of additional tools for calculating the exact costs and benefits of any product.

Our goal is to locate the best mortgage for your requirements, taking all factors into account, so don’t be surprised if we recommend a product that isn’t the cheapest rate. It will, however, be the cheapest option for you once all fees have been considered.