Be wary of doorstep traders, says OFT

Homeowners in the market for cheap mortgages have been warned to be on their guard against rogue doorstep traders.

The Office of Fair Trading OFT has launched a new awareness campaign urging people to be on their guard as many rogue doorstep traders are related to home improvement work, which has increased in popularity as more people stay put rather than move.

It claimed that while it is not illegal to canvas for work by knocking door to door, homeowners should be cautious and avoid making hasty decisions.

"Rogue doorstep trading is an ongoing problem in the UK and work or service carried out can sometimes be unnecessary, of a poor standard, much more expensive than originally quoted or not done at all," said Michele Shambrook, deputy operations manager at Consumer Direct.

Meanwhile, Santander has launched a new fixed mortgage to make home loans more affordable, offering loan to values of up to 75 per cent for three years at 4.15 per cent.

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2011-07-21 16:48:08 © Moneyextra.com