Tuesday, September 26, 2006

Northern Rock Mortgages: Hidden costs

Northern Rock have been advertising a Fixed Rate Remortgage at 4.49% for 2 years.

Sounds not bad….but look at the small print.
“There’s a product fee of 1.5% of the loan payable for setting up this mortgage. Other fees will also apply” .

This means on a mortgage of £150 000, you pay £2 250. There is also a booking fee of £75.

Plus they don’t pay your legal or valuation Fees. Any good remortgage deal will do this

Conclusion: Avoid

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