Saturday, Aug 26, 2006

Mortgage Debt becoming more expensive

Guardian: What can turn those 'best buy' mortgages bad

Mortgage companies are manipulating "best buy" tables by offering seductive low-rate deals - and then hitting homebuyers with huge arrangement fees. Just last week, Halifax launched a highly competitive 4.49% two-year fixed rate - but with a massive 1,499 arrangement fee.

Posted by uncle chris @ 09:27 AM (532 views)
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1 Comment

1. Dude said...

Well I'm sorry. If people are so stupid as to not work out the total amount they will have to pay they deserve to be fleeced. After all, mortgages are not rocket science. And if haven't the ability to work out the costs you can always ask the banks to give you a writen quote.

I would even go so far as to say if you don't understand mortgages you don't deserve to own a house. We seem to becoming a society that gloats at its ignorance of mathematics.

Saturday, August 26, 2006 02:15PM Report Comment

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