Mortgage Deals
Institutions that lend you money are notorious for adding hidden charges to the debt that you owe them. If you are aware of them, you can avoid them. As an example, think of your current account. It is possible that you could be charged for each day that you are in the red. This could be a big incentive for you to get back into the black.
If you’re thinking about switching mortgage providers to save some cash, then it is essential that you look closely at all of the charges and fees. Many mortgage lenders tempt you with what look like great deals but can catch you out with many hidden charges. Research by “Which? Money” has revealed that up to 39 different fees are presently being used by mortgage lenders.
Some hidden charges can be made for the following reasons:-
Falling into arrears.
Booking.
Administration.
Valuation.
Opted out insurance.
Changing repayment type.
When you work out which type of mortgage deal is best for you, it really is absolutely vital that you factor in all of these additional fees.
Credit Cards
“Which? Money” has also given credit card companies the once-over recently. When people contact these companies to make enquiries for credit card information, they are routinely being fed misleading figures. Investigators working undercover found that 60% of calls made to credit card companies failed to give the correct advice.
Choosing a credit card should be an easy process. Most people choose one based on cost. Other factors should be borne in mind when choosing your brand of plastic. Be sure that you haven’t been misinformed.