How to check your mortgage statement: Do you know if your mortgage lender is charging you the right amount of interest?
Article Abstract:
It is as important to check a mortgage statement as a current account or credit card statement. The majority of lenders charge interest for the entire year on the balance owed at the beginning of the period covered by the statement, a few adjust the balance on a monthly basis. Lenders have an obligation to borrowers understand how their mortgage account works, although out of 21 major lenders surveyed, over half had statements that failed to provide enough information. There are sometimes hidden charges, and some tariffs of charges were found to be more comprehensive than others.
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Subject: Consumer news and advice
ISSN: 0043-4841
Year: 1997
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How mortgage lenders tie you down
Article Abstract:
A survey of mortgage lenders found that at least one insurance product would have to be purchased at the same time as acquiring a mortgage, and the details of the cover may not be disclosed until after purchase. Insurance products commonly forced on mortage purchasers include house building and contents, indemnity policies and endowments. However, it can be convenient to purchase a mortgage and insurance package, and the government is proposing new rules on tying in, but this will not cover remortgages.
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Subject: Consumer news and advice
ISSN: 0043-4841
Year: 1993
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Should you switch your mortgage?
Article Abstract:
Various factors must be taken into account when deciding whether to change a mortgage lender, or change a mortgage with the same lender. Despite the advantage of lower monthly payments, costs such as valuation fees, new house insurance, and early redemption penalties have to be taken into account. Step by step procedures for changing mortgages are presented, including an examination of costs.
Publication Name: Which?
Subject: Consumer news and advice
ISSN: 0043-4841
Year: 1992
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