Saturday, December 8, 2007
This will take the shine off the 0.25% cut
Finance giants are taking advantage of home buyers by introducing 'astronomical' mortgage application fees that can top £10,000. Banks and building societies are cashing in through charges that can add crippling extra costs to buying a home or remortgaging. The swingeing fees mean that this week's decision by the Bank of England to cut the base rate by a quarter point may offer little benefit.