“A lot of people go to lenders with statements they have printed off from their online account. But they won't be accepted as they can be easily manipulated - and open to fraud.”
“For a listed building or something very unusual, you might need a specialist survey carried out by somebody who really understands that type of property. And some very unusual buildings are in a poor state of repair. So lenders might release the money in stages, and get someone to check before they release any more.”
“It's rather good value when you consider that, two weeks ago, the best five-year fix was 4.69 per cent from the Portman building society. The [Woolwich deal] has no extended redemption penalties, is available up to 95 per cent loan to value, and the arrangement fee is average.”
“When a mortgage deal has a low rate and high fee, generally speaking, it best suits a borrower with a fairly sizeable loan. On these 3.99 per cent deals, the fees mean they best suit those borrowing £175,000 or more.”
“Such a limited selection of providers means interest rates tend to be at a premium to standard home loans - although [arrangement and valuation] fees are comparable.”
“They want to ensure they will get their money back, and that if a borrower defaults on the mortgage, [they] will be able to sell the property and recoup their losses that way.”
