Caithness CWS - Links

Mortgages
Since April 2000 lenders have to apply the new CAT (Charges, Access & Terms) standards if they want to gain official approval. the standards are not obligatory but although voluntary lenders are supposed to tell you if a particular loan meets the standards. By summer 2001 all the UK mortgage lenders will be regulated by the financial Services Authority, the new super watchdog which will have a range of powers to punish offending firms. however the government has decided not to set rules to guarantee the quality of advice given to borrowers. Put another way the laon information may be OK but the advice you get will not be subject to scrutiny. The CAT standards to watch out for are - The Model Mortgage Interest calculated daily rather than annually. Lenders no longer to impose a mortgage-guarantee fee (which could be as high as £2000) Early repayments permitted at any time without penalty. Available to new and existing customers. Variable Rate Loans No fees. No redemption penalties. Interest rate must not be more than two points above the base rate. Fixed and Capped Rate Loans Booking/arrangement fees shouldn't exceed £150. No redemption penalties after fixed or capped rate period. Ceiling on redemption penalties during fixed or capped rate period.. The Market Place Money Facts Money Supermarket BBC Mortgage Calculator Council Of Mortgage Lenders - Calculator
As ever if in doubt shop around for the best deal.
See Also - Finance & Money