Summary

With the higher lending charge, mortgage lenders have ( car insurance cover ) always had a good opportunity to take yet another payment from borrowers. This article examines the situation.

Mortgages. Will the charges ever stop? Page 2

Author - Anna Richardson

Notably, the Nationwide Building Society does not operate in this way. That is

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Life Insurance News

probably why they recently reported on the fact that lenders have received over £1 billion in the last five years, thanks to the higher lending charge. 800,000 borrowers helped pay, and those that ( term assurance ) could least afford it, the first time buyers, added up to 500,000 of those borrowers. The lenders obviously think that changing the name from the mortgage indemnity guarantee will fool people - but it didn't fool us!

The credit card industry recently underwent a shakeup when the Office ( car insurance quotes ) of Fair Trading decided to force a number of credit card companies to lower their charges by 40%. Perhaps it is time that they turned their attention to the mortgage industry.

House purchases - Stamp Duty rates

Up to £125,000 0%

£125,000 - £250,000 1%

£250,000 - £500,000 2%

Over £500,000 4%

*In case you're wondering, if your purchase falls short of a threshold by four pounds ( car insurance policy ) or less, the amount will be rounded up to the nearest £5, and you will still have to pay a higher charge on stamp duty.