Each week, we also round-up the best comments, emails and letters to the site and pick one reader contribution as our Star Letter. This week’s award goes to:
West Bromwich BS joins fixed rate mortgage price war with 1.48% deal
This is proof positive of the FCA’s redundancy as a regulator. They are allowing lenders to market non-advised deals with massive fees and there is a fair chance that some unsophisticated borrowers will be sucked in by these headline rates on lower value mortgages, when a mortgage broker would find far better value.
Plus, of course, it isn’t particularly sensible to take a short-term fixed in the week that the BoE announced three years of base rate stability.
The FCA should be stomping on these antics now, not waiting until next spring.
Stuart Duncan
