Consumers pay £200 a month more for advised mortgage

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Intermediary mortgages are £200 more expensive each month than comparable direct products, according to research.

The latest study by Home Buyer Sourcing Index (HBSI) suggests mortgage deals available to intermediaries cost around £5,000 more over the lifetime of a product than those sold by lenders themselves. The research suggests considerable savings can be made by borrowers if they choose the direct-to-lender equivalent. Remortgagers at 85% LTV can save £208 per month; second time buyers at 80% LTV are better off by £201 a month, and first time buyers at 80% LTV can save £162.17 a month. The HBSI also shows that the choice of products available via intermediaries is very limited compared w...

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