Fee-free mortgages: Do your sums before signing up | Mail Online

Fee-free mortgages: Do your sums before signing up | Mail Online

Mortgage lenders are enticing borrowers with fee-free mortgage deals but although these might sound good compared to products that come with a £2,000 price tag, it pays to do the sums before signing up.
HSBC yesterday became the latest bank to tempt those looking for a fee-free deal, with a discount mortgage at 3.84 per cent for two years, set at 0.1 per cent below its standard variable rate, for those with a ten per dent deposit.

Last week saw Hinckley & Rugby Building Society introduce a fee-free discount mortgage at an initial rate of 3.49 per cent (2.15 per cent off the society’s standard variable rate). The deal is available up to a loan-to-value (LTV) of 75 per cent.