Several high profile mortgage lenders have begun to revolt against higher lending charges and chastise those who impose them on their customers A higher lending charge (HLC) is a fee charged by a mortgage lender to a borrower if the loan-to-value ratio on their home loan product exceeds certain percentage – usually from seventy percent upwards

Capped rate mortgages have variable interest rates that will not rise above a certain upper limit The interest rate can rise or fall during the term of the mortgage, however it will not rise above the capped upper limit

When getting quotes from competing lenders it’s always hard to know who’s telling the truth and who is giving the real interest rate when they quote you To be completely sure you really do need to ask several lenders to quote you to be sure you are getting the best deal

Finally, you have found the house of your dreams You can now decide on the amount that you want to borrow and also your downpayment for it

As hundreds of thousands of UK home owners reach the end of the discount period on their fixed interest home loans most will look to remortgage to a new product some time this year Only a few months go it seemed likely that most borrowers in this situation would opt for another short term fixed rate deal, however the credit crunch has changed the situation