Mortgages. The FSA to crack down on exit fees. Page 2

On a wider front, always remember to take into account

Getting the Best Mortgage Loan With a Bad Credit Rating: Sorting a mortgage out can be stressful, especially if you have a poor credit history. This article provides some useful advice
Interest Only Home Loans: An introduction to the workings of an interest only mortgage.
Buy to let – a change for the better: Do you own a buy-to-let property? There are some proposed new rules regarding tenancy agreements. Find out more. Buy to let – a change for the better
Mortgages. Big changes in the buying and selling of houses.: In mid summer 2007 everyone who wants to sell a property will have to prepare a Home Information Packs before they put it on the market. This article explains what the Packs will have to include what they'll cost - and whether we expect them to work!
HIP's – the full story: Ready, steady, go! With just three months to sell your home using the forthcoming and compulsory information pack, you need to get your act together. Here we face the facts.
Mortgages. The return of the Mega-Mortgage.: All of a sudden, mortgage lenders love mortgages over £500,000. Great if you can afford them.

all the lenders charges and money saving extras when you're working out which mortgage to apply for. To illustrate ( car insurance cover ) the point, let's say you wanted a 2-year fixed rate mortgage and were attracted by the offers from The Halifax and ( secured loans ) Northern Rock.

The rate offered by the Northern Rock is currently 4.19% plus a 1.5% arrangement fee and an exit fee of £250. The Halifax's rate is 4.39% with an arrangement fee of ( insurance ) £499, an exit fee of 175. Within the package there's also free legal work and free valuation that could save around £750. So which deal is the cheapest?

Taking a £100,000 repayment mortgage over 25 years and costing it over the first two years with redemption at the end of the second year, The Northern Rock comes out at ( home insurance quotes ) £14,671 whereas The Halifax comes out at £13,864 - a saving of £807 over the northern Rock. And this saving doesn't take the extra £750 legal and valuation savings offered by the Halifax. Therefore, The Halifax's offer at the higher rate of 4.39% is in fact the cheaper cost on this basis.

Our advice is read all the small print! And be aware that the ( car insurance quotes ) lenders use all sorts of words to describe charges - arrangement, application, booking, reservation, completion, early redemption are all words to described a charge or fee. So keep your eyes skinned!

Statutory Wealth Warning:
Your home may be repossessed if you do not keep up your repayments on a mortgage or any debt secured on it.