Michael Sterios

Borrowers who are unable to move their mortgages, or who are unaware that they can find better deals than those they are currently on, are helping to fund their mortgage lenders’ prime mortgages products Borrowers who have home loans that are too small in value to qualify for low interest rates are forced to stay with both the products and lenders they currently have

Several high profile mortgage lenders have begun to revolt against higher lending charges and chastise those who impose them on their customers A higher lending charge (HLC) is a fee charged by a mortgage lender to a borrower if the loan-to-value ratio on their home loan product exceeds certain percentage – usually from seventy percent upwards

Capped rate mortgages have variable interest rates that will not rise above a certain upper limit The interest rate can rise or fall during the term of the mortgage, however it will not rise above the capped upper limit

If you are looking for a mortgage for your home you may find that there are dozens of mortgage lenders to choose from that currently offer products on the UK mortgage market The days of being forced to apply for a home loan from one of only a small selection of high-street banks has been firmly relegated to the history books

There once was a time when loyalty was rewarded However times have changed and loyalty to your mortgage lender no longer seems important

The number of products available on the UK mortgage market has declined rapidly in recent months as lenders tighten their belts in order to lessen the effects of the credit crunch Lenders in the UK have recently been withdrawing various types of products from the market including buy-to-let mortgages

As hundreds of thousands of UK home owners reach the end of the discount period on their fixed interest home loans most will look to remortgage to a new product some time this year Only a few months go it seemed likely that most borrowers in this situation would opt for another short term fixed rate deal, however the credit crunch has changed the situation

The Treasury has recently warned financial services firms to tighten their belts with regards to gaps in their services which could lead to money laundering activities by their clients In particular the Government is targeting self-certification mortgages and the ability for applicants to defraud lenders by providing false information on mortgage applications