P544 Teletext 540 Apr13 21:12:55        —— GETTING A BARGAIN ——————————————————   Lenders are notorious for   offering better deals to new   customers than to loyal and   existing mortgage holders.   "It's always worth checking with your existing lender anyway, prior to going ahead with a remortgage," says London & Country broker Phillip Cartwright. "I've come across cases where lenders have trumped a remortgage with a better deal to keep the borrower happy." ——————————————————————————————————1/7—— by Lorne Spicer Download and Analyse Share Price on Your PC See Pages 532 & 533 Mortgages Savings Your Money TV Plus
P544 Teletext 540 Apr13 21:04:06        —— GETTING A BARGAIN ——————————————————   ghether a fixed or discount   rate is best depends on   several factors, not least of all finding the best deal available. "'jth rates so low at present the discount mortgages are often cheaper to start with than fixed rates," says Phillip Cartwright. "Certainly a three-year discount deal beats a three-year fixed rate, given today's low variable rate." he adds. ——————————————————————————————————2/7—— Money news updates daily 541 Download and Analyse Share Price on Your PC See Pages 532 & 533 Mortgages Savings Your Money TV Plus
P544 Teletext 540 Apr13 21:04:18        —— GETTING A BARGAIN ——————————————————    "Fixed rates are dearer than   discounts because the money   markets anticipate interest   rate rises," says Phillip Cartwright. "The saying 'fix now before rates go up' is rather uninformative, as the markets have already hedged their bets and built this into the rate," he adds. "Discounts may therefore offer better value, but do go into this situation with your eyes open." he warnsN ——————————————————————————————————3/7—— Looking for a mortgage deal? 545 Download and Analyse Share Price on Your PC See Pages 532 & 533 Mortgages Savings Your Money TV Plus
P544 Teletext 540 Apr13 21:16:21        —— GETTING A BARGAIN ——————————————————  "Those opting for discount rates must consider their attitude to possible future interest rate rises," says Phillip Cartwright. "It's generally accepted that rates go up after an election, but if you think rates will rise rapidly then the value of a discount will quickly be eroded," "Whichever you chose, do allow for a 'payment shock'. Be prepared for the extra costs once the offer expires." ——————————————————————————————————4/7—— Tracking down Premium Bond wins 543 Download and Analyse Share Price on Your PC See Pages 532 & 533 Mortgages Savings Your Money TV Plus
P544 Teletext 540 Apr13 21:17:51        —— GETTING A BARGAIN ——————————————————  Scratch the surface of many discount and fixed rate mortgage offers and you often find hidden catches. For example: you may be required to take out one or more forms of insurance with the lender an extra 0.24% to 1.15% may be tacked onto the fixed rate or shaved from the discount if you refuse such cover ——————————————————————————————————5/7—— Latest tips and products 541 Download and Analyse Share Price on Your PC See Pages 532 & 533 Mortgages Savings Your Money TV Plus
P544 Teletext 540 Apr13 21:11:10        —— GETTING A BARGAIN ——————————————————  Any application, administration or mortgage indemnity fees charged on a mortgage should be paid "up front" if at all possible. Some lenders will allow you to add the costs to the mortgage itself, but over a 25-year term, even if interest rates stay at 6%, this is an expensive option It means you are paying 6% interest at a compounding rate which after 25 years could run into thousands of poundsN ——————————————————————————————————6/7—— Pre-election selection >>> Download and Analyse Share Price on Your PC See Pages 532 & 533 Mortgages Savings Your Money TV Plus
P544 Teletext 540 Apr13 21:12:36        —— GETTING A BARGAIN ——————————————————  London & Country favours two mortgages available at present. They are: National Counties: 1.75% discount until 1/8/99 to give a rate of 5.24%, 30% deposit required plus £250 fee. Redemption penalties last three years 01372 744 155 Stroud & Swindon: 7.25% capped rate guaranteed for three years at 7.49%, 15% deposit required plus £249 fee. Redemption penalties last three years 0117 986 4415. ——————————————————————————————————7/7—— London & Country: 0800 373 300 Download and Analyse Share Price on Your PC See Pages 532 & 533 Mortgages Savings Your Money TV Plus