18
Mar
'Look around for mortgages', consumers told
It makes sense for consumers to shop around for the correct
mortgage, especially in the current climate when the number of
products available is falling, the Council of Mortgage Lenders
(CML) has suggested.
Spokeswoman at the CML Sue Anderson claimed that this is a
"sensible" option and that such research should always be paramount
for homebuyers.
And if the correct knowledge is gained on the market then these
people ought to be able to consider if the advice they have been
given is directing them towards reasonable mortgages, she
added.
"Shopping around is always important, particularly so when the
range of choice is narrowing, as it is at the moment," she
commented.
She noted that there are also a number of reliable sources
available on the internet for those in the dark.
Last year, Moneyfacts announced that 40 per cent mortgage deals had
effectively disappeared from the market as a result of the credit
crunch and harsher lending conditions.