Less mortgage fees at HSBC and first direct

Borrowers looking for the best mortgage rates will be interested to hear that HSBC and first direct have less mortgage fees than any other bank.

According to a Which? study, HSBC has less fees than any other bank four and first direct has just five possible fees.
The study found that the average UK lender can charge for over 20 different mortgage fees.

Stuart Beattie, head of mortgages at HSBC, said: "Our transparent fees approach provides homeowners with an assurance that if the fee isn't mentioned in the sale documents, then they won't have to pay it."

He added that the bank also offers a number of fee-free mortgages where booking and completion fees are removed and standard valuation comes at no cost.

The research carried out by Which? showed that building societies have the most fees with Newcastle Building Society topping the list with 29 possible charges.

A separate study by Kantar media showed that HSBC and first direct also offered the most best buy mortgages in 2010.
 

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2011-01-25 11:22:05 © Moneyextra.com