Market research mortgage products UK

The number of mortgage products for homebuyers in the UK is growing, but consumers still face high fees, particularly high collection is set for the lower rate on the loan. The review presents data from recent studies Moneysupermarket.com.

Moneysupermarket.com Group PLC is a British site of comparative analysis of prices of financial products of different companies specializing in financial services. The web site provides users with a unique opportunity to do comparative analysis on different mortgage products, credit cards, rates insurance companies. In recent years, to be comparing products on Moneysupermarket.com significantly expanded – it includes the products of tour operators, energy prices, prices for mobile communications, etc.

The number of mortgage products has increased significantly, from April 2012, when it was declared a public Financing Program Lending, an increase of 34%. Encouraging also was the decline in mortgage interest rates. Mortgages in the UK

The number of loans where the ratio of loan to value of the product – the so-called value Loan to Value (LTV) is 60%, increased over the past 12 months at 94%, the corresponding number of loans value LTV 80% increased by 48%.

Fixed interest rates on loans for 2 years, decreased from 4.21% to 3.28% over the past 12 months, and five-year fixed rates have fallen from 4.67% to 3.84%. And although, at first glance, the trend is positive, the lower rates offset by the rising cost of fees, which increased for two-year loans of £ 1,170.50 to £1,393.17 pounds, or 19%. And the average cost of a maintenance fee five-year fixed loans increased from £996,83 to £1218,13.

So for those of you who are considering different mortgage products, one must, first and foremost, carefully read the contract and see what is the total cost of servicing the loan, and not focus only on interest rate, because even with the high cost rates, given the low cost of additional fees, the total cost of the transaction can be much more interesting. When comparing http://odezhda-optom.org.ua/dzhinsy-optom-dnepropetrovsk.html a variety of mortgage products, it is necessary to calculate the total amount that will be required to pay for the entire term of the transaction.

® Alice Morgan. 28.05.2013