Many newspapers and magazines – not to mention financial websites – will have lists of Best Buy mortgages and other savings products for their readers or users to work out whether there are good deals around.
Best Buy tables are very useful in providing would-be borrowers with a snapshot picture of how much a mortgage can cost and what the monthly payments might be.
But they are not always good at instantly telling you if:
- There is an extra charge for loans-to-value of 95% or over
- The mortgage has redemption penalties and how they apply
- There are charges for early repayment of the loan and what those costs might be.
- The deal is conditional on taking out any other products, such as home insurance
If any of these questions apply to you, you should find out more. If you’re using an online Best Buy chart, then there should be a link to additional information. If you’re looking at Best Buys in a newspaper or magazine, go to the next page in the section and look under “further details”.
Alternatively, just should ask the lender directly.
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