Lending charge at its peak

4/06/2007

Moneyfacts.co.uk the site comparison website feel that 75 per cent of mortgage lenders now charge more to those looking to change mortgages with a different loan-to-value.

The financing portal states that the fees range from 7 per cent to 12 per cent.

Julia Harris at Moneyfacts.co.uk has concluded that higher lending is defiantly a costly add-on for people who opt for deals with saving discount headline rates.

Selecting mortgage deals with different mortgage lenders, which do not state higher lending charges may slowly total costly, as the rival mortgage lender.

"Don't be lulled into thinking that by choosing a lender which does not charge a HLC [higher lending charge], you will not be faced with higher charges as it may mean you pay a higher interest rate instead," she added.

Majority of homeowners might be told to consider a high loan-to-value mortgage deal, they are only aiming to increase property prices.

The Nationwide Building Society stated that the average house price inflation in the United Kingdom resulted at a 10.3 per cent figure, this was May 2007 figures.

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