A journalist at the Daily Telegraph is writing a story today on Moneyfacts data showing the average fee for a fixed-rate mortgage has increased by £57 over the past year, hitting £1,075 this month. There are also fewer lenders offering deals with no fee at all.
Moneyfacts has also warned that, as lenders compete in a rate price war, they will be looking to make up costs elsewhere and buyers should be wary of "eye-catchingly low" rates without considering the overall fee cost, too. Presumably this will particularly apply to first-time buyers who have less cash upfront?
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