Your home may be repossessed if you do not keep up repayments on your mortgage
Upon application a fee of up to £495 will be payable (typically £195)
Companies maintain great relationships with lenders so that they can provide you with current rates and the most exclusive offers on fixed rate mortgages. However, best buy tables present complications in the form of making it difficult to find out the source of certain information and when it was recorded. And so the best buy tables that appear through quick internet searches, may be unreliable. Some tables may provide inaccurate or out of date information, meaning that the best deals are not necessarily at the top of the table.
When you read ‘Best Buy’ in a table or article, it is literally meaning, the cheapest loan, so that a table of comparison will present rates alone. This would appear fine, but it does not mean that all loans with low headline rates are going to be cheap.
To give you a better idea, the rate may be 1.99% but it can then hold an arrangement fee of 1%, and of early redemption charges, as well as penalties which have the potential to seriously damage your finances. Just because a best buy table claims that certain lenders have the best fixed rate mortgage deals, it doesn’t mean that it is true – caution is a must.