How to check your mortgage statement: Do you know if your mortgage lender is charging you the right amount of interest?

Article Abstract:

It is as important to check a mortgage statement as a current account or credit card statement. The majority of lenders charge interest for the entire year on the balance owed at the beginning of the period covered by the statement, a few adjust the balance on a monthly basis. Lenders have an obligation to borrowers understand how their mortgage account works, although out of 21 major lenders surveyed, over half had statements that failed to provide enough information. There are sometimes hidden charges, and some tariffs of charges were found to be more comprehensive than others.

Finance, Housing

---

How mortgage lenders tie you down

Article Abstract:

A survey of mortgage lenders found that at least one insurance product would have to be purchased at the same time as acquiring a mortgage, and the details of the cover may not be disclosed until after purchase. Insurance products commonly forced on mortage purchasers include house building and contents, indemnity policies and endowments. However, it can be convenient to purchase a mortgage and insurance package, and the government is proposing new rules on tying in, but this will not cover remortgages.

Practice, Mortgage insurance

---

Should you switch your mortgage?

Article Abstract:

Various factors must be taken into account when deciding whether to change a mortgage lender, or change a mortgage with the same lender. Despite the advantage of lower monthly payments, costs such as valuation fees, new house insurance, and early redemption penalties have to be taken into account. Step by step procedures for changing mortgages are presented, including an examination of costs.

Industry Overview, Mortgages, Refinancing

Similar abstracts:

• Abstracts: Store your food safely: is your fridge running at the right temperature and is the food in it stored safely? Here's how you can check
• Abstracts: How to check your income tax. Check your income tax
• Abstracts: How does your card compare with our Best Buys? Pick the best card. The versatile choice: with the launch of APS SLR cameras there's now a wider choice than ever. We compare APS with 35mm
• Abstracts: Is your card top of the pile?: Many of you have a credit card from one of the big banks. But our Best Buys may well offer a better deal for you
• Abstracts: How to cut your heating costs. Why your food costs too much. Could you cut energy costs?

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.