Good news and bad on the mortgage front Good news and bad on the mortgage front
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  1. #1

    Richer than sasguru

    DimPrawn is a fount of knowledge

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    Default Good news and bad on the mortgage front

    http://www.dailymail.co.uk/news/arti...sts-3-000.html

    Fixed rate mortgages have dropped below 5 per cent again as competition returns to the market.

    But the cheaper two-year deals come with a catch - an arrangement fee of more than £3,000.

    The Halifax has launched a two-year deal at 4.89 per cent while Cheltenham & Gloucester has also shaved its rate below 5 per cent.
    I guess with HBOS this wonderful opportunity of paying over £3,000 in arrangement fees has been pulled?

  2. #2

    Contractor Among Contractors

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    These deals are just a con, it's the same as credit cards offering 5.x% for 12 months but with a 'balance transfer fee' of 4%. When calculated the overall interest rate runs out at a much higher figure like 7 or 8%. I'm sure they have to quote "the cost for comparison APR" which shows the true figure? I know Northern Rock do this.
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  3. #3

    Fingers like lightning

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    Um thanks Chris

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