Customers save on mortgages by looking beyond headline rates
The most important part of buying a first property for anyone in
the UK is securing the finance to do so.
In recent years, with banks being more strict when it comes to
lending, borrowers may have been tempted to go for whatever deal
they can get.
Now, however, they are being warned to be scrutinise more over what
they are looking at in terms of mortgages.
Before heading to the estate
agents, buyers have been told that looking beyond headline
rates can save them considerable money in the long run.
According to MoneySupermarket.com, it could be the case that
although banks offer better deals at the top level in terms of
interest rates, building societies tend to offer far cheaper
This means that borrowers could save up to £700 over the
course of a mortgage just by looking around and trying to get the
Clare Francis, mortgage expert at MoneySupermarket.com said: "When
looking for a mortgage, don't just go to the big banks as there are
some great deals available from smaller lenders too and it's really
important to get the best product as it could literally mean the
difference in cost of thousands of pounds."