London & Country mortgages urges people to seek out good deals

Date:Thursday 21st October 2010
Author: Susanna Kavka

People should not give up hope of finding competitive home finance arrangements, according to a representative from London & Country.

David Hollingworth, a spokesperson for the firm, was set the task of finding cheaper mortgage deals by the Guardian.

The options presented to readers included an HSBC tracker agreement at 1.6 per cent above the base rate, a Barclays tracker at 2.18 per cent on top of the base rate and a fixed-rate product from ING Direct at 3.69 per cent.

However, these arrangements were for up to 60 or 70 per cent loan-to-value deals and the article advised people to work out what fees they need to pay if they decide to switch products.

But the publication quoted Mr Hollingworth as adding: "Don't just assume that because of the tougher mortgage market, there aren't still savings to be had."

This week, Tesco Bank announced that its mortgages will be simple and transparent when they are launched next summer.