Lenders sign up to uniform mortgage 'tariff'

Initiative to make mortgage comparison easier

Carmen Reichman

Major lenders have agreed to publish mortgage fees in a uniform way by the end of this year to make it easier for consumers to compare costs.

Lenders making up 85% of the mortgage market signed up to an initiative by consumer champion Which? and the Council of Mortgage Lenders (CML), which seeks to make it easier for consumers to compare mortgage deals by offering a market-wide 'tariff'. The lenders agreed to use the same fee names and descriptions on their websites by the end of the year. Which? and the CML devised the tariff following last year's Autumn Statement and will continue to work together to create a standard comparison method early next year for lenders to adopt in 2016. The mortgage tariff will be published ...

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