Moneyfacts.co.uk mortgage rep encourages consumer research

Date:Tuesday 28th September 2010
Author: Max Freedman

It is important that people research exactly how much a home finance arrangement is going to cost them, according to a Moneyfacts.co.uk mortgage representative.

Darren Cook, head of press and PR at the website, explained consumers must find the mortgage that suits their own circumstances best.

"If you are looking at a mortgage, it is probably the biggest transaction - or one of the biggest - that any household or individual will make in their lives," he said.

The Moneyfacts.co.uk mortgage expert pointed out that it is vital to work out the "true cost" of any deal, since significant fees can make an arrangement with a low interest rate less of a bargain.

He stated that it may actually be beneficial for people to sign up for a percentage fee agreement if they are borrowing up to £50,000.

Last week, the Council of Mortgage Lenders claimed that mortgage lending in August hit its lowest level for the month since the year 2000.