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This article is for information only. It does not constitute advice. Chase Saunders Ltd does not provide services for savings, investments, mortgages or insurance. You should seek advice on these areas from a qualified financial advisor.
Mortgage customers urged to shop around
Article Category: Debt Management Help and Advice
Mortgage customers have been urged to shop around as the market conditions become increasingly difficult.
The credit crunch has increased the cost of borrowing and prompted lenders to tighten their criteria.
As a result, homeowners are facing higher bills and many will be looking to
remortgage over the coming months in a bid to keep the costs down.
"Shopping around is always important, particularly so when the range of choice is narrowing, as it is at the moment," said Sue Anderson of the Council of Mortgage Lenders (CML).
"Knowing the product range that is out there is obviously important for borrowers so that they can assess whether the person who is advising them is pushing them towards a product that looks suitable for them within the range available."
The Financial Services Authority (FSA) says that 1.4 million people will come to the end of fixed rate
mortgage deals this year.
Many of those will see their repayments rise considerably, leading to
debt problems for anyone who has over-extended themselves.
For more information about debt management call our advisors on 08000 122 118 for FREE, no obligation help and advice.
Created on 13/06/2008 10:16:20
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