Book a Property Valuation

Fee Free Mortgages

Fee Free Mortgages

Economy news GPEA 24th February 2017

Increased competition between lenders has seen the number of fee-free fixed rate mortgages more than double over the past twelve months.

According to recent data from Moneyfacts, there were 556 fee-free deals just over a year ago, compared to 1,162 by the end of 2016.

Although the number of fee-free deals has increased, average fixed rate fees have gone up by £30 from £954 to £984 over the past year. The average two-year fixed rate, however, has fallen from 2.67% to 2.34% in the last 12 months, which suggests some lenders are introducing lower rates but with higher fees.

Fee-free mortgages usually have slightly higher rates than those which do charge a fee, but they often still work out to be more cost-effective overall once fees are factored in.

Calculations show that borrowers with a 25% deposit opting for the lowest two-year fixed rate deal with a fee could be more than £1,000 worse off than if they’d gone for a deal with no fee.

It’s important that when comparing deals, borrowers always look at the total cost, rather than just the headline rate of interest charged. 

Pwy ydym ni?

Mae Williams & Goodwin The Property People yn aelodau o’r Gymdeithas Gweithwyr Eiddo Proffesiynol, Cymdeithas Genedlaethol y Gwerthwyr Tai, y Gymdeithas Asiantwyr Gosod Preswyl a Chymdeithas Genedlaethol y Priswyr a’r Arwerthwyr. Rydym hefyd yn Syrfewyr Prisio Siartredig ac yn aelod o Rwydwaith Cenedlaethol o tua 800 o Asiantau Tai annibynnol.

Mwy amdanom ni






Cyfieithwyd y wefan hon gan Bla Translation Ltd
mail@bla-translation.co.uk
www.bla-translation.co.uk

Cysylltu â ni

Eisiau gwybod mwy am Williams & Goodwin a’r gwasanaethau rydym yn eu cynnig, ffoniwch neu anfonwch e-bost atom heddiw.

Caernarfon - 01286 677 775
Bangor - 01248 355 333
Llangefni - 01248 751 000
Holyhead - 01407 760 500
Property Management - 01248 72 40 40
All Wales Auction - 01248 75 39 39

Cliciwch ymai weld manylion llawn ein swyddfeydd


 
 
 
©2021 Williams & Goodwin The Property People Cymru. All rights reserved. Terms and Conditions | Privacy Policy | Cookie Policy | Members Login
Registered in England & Wales. 

Check mortgage eligibility online