June 20th, 2008
Look Out For Those Mortgage Arrangement Fees
Since the global credit crunch swept across the UK last year the cost of borrowing has rocketed in all areas of the financial sector, particularly mortgages. We have seen the interest rates on mortgage rocket, and this is despite three recent base rate cuts from the Bank of England between December 2007 and April 2008. However, whilst the base rate has been cut lenders have continued to hike up mortgage related costs, which means that many borrowers have not benefited from the base rate cuts.