 |
| LATEST LATEST LEGAL NEWS ARCHIVE |
LATEST NEWS & EVENTS Rising mortgage costs 'spell confusion'  The residential property conveyancing sector faces confusion as a result of rising mortgage costs, it has been claimed. Average fees for arranging mortgages have risen, making it harder for people to determine the true cost of a deal, according to research from moneysupermarket.com. Analysis carried out by the price comparison site shows the average application fee has risen by £97 since September 2009, an increase of 14 per cent for fixed products and £118 for tracker products, marking a rise of 15 per cent. Clare Francis, mortgage spokesperson at the site, said the mortgage market can at times be a "minefield" for consumers. "In some instances, the lowest headline rate may not actually prove to be the cheapest option because of the other charges borrowers will incur," she explained. Ms Francis added that it is "vital" for prospective mortgage customers look beyond the headline rate and "dig a little deeper" to establish the true cost of the mortgage. It comes as the government announces the launch of a new scheme to help first-time buyers into the residential property conveyancing market. The FirstBuy initiative will offer 20 per cent loans to 10,000 families buying a property for the first time. Posted by Alex McLean 
Related Articles: 17/5/2012 - Discussing death remains taboo as wills and inheritance tax planning suffers 11/5/2012 - Queen's Speech legal reforms welcomed 4/5/2012 - Create Lasting Power of Attorney before it's too late 2/5/2012 - Support for will writing regulation grows 25/4/2012 - Inheritance tax planning could net £450m a year in savings More Individual Legal Services News |
|||
| © 2012 Lamport Bassitt | DEFAULT ZOOM | DISABILITY INFORMATION | LEGAL INFORMATION |