Mortgages: Watch Out for Add-on Charges

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Mortgages: Watch Out for Add-on Charges
(presented by www.refinance-refinance.net - mortgage lenders)

By Michael Challiner

Every year more and more homeowners are re-mortgaging their homes to benefit from mouth wateringly low interest rates. But beware, the lenders are hiking up their other add-on charges to bolster their profits.

Behind those irresistible headline offers - for example, 4.3% for a two year fixed deal - some of the big mortgage lenders have been busy with the small print! Many have introduced a whole range of add-on charges and if you don’t watch out, these can wipe out your savings.

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The soaring charges are the lenders response to the borrowers increasing tendency to switch mortgages to take advantage of successive special offers. The industry are schizophrenic about switchers, on the one hand calling them

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This entry was posted on Saturday, June 3rd, 2006 at 2:17 am and is filed under Refinance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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