18 Mar

'Look around for mortgages', consumers told

'Look around for mortgages', consumers told

It makes sense for consumers to shop around for the correct mortgage, especially in the current climate when the number of products available is falling, the Council of Mortgage Lenders (CML) has suggested.

Spokeswoman at the CML Sue Anderson claimed that this is a "sensible" option and that such research should always be paramount for homebuyers.

And if the correct knowledge is gained on the market then these people ought to be able to consider if the advice they have been given is directing them towards reasonable mortgages, she added.

"Shopping around is always important, particularly so when the range of choice is narrowing, as it is at the moment," she commented.

She noted that there are also a number of reliable sources available on the internet for those in the dark.

Last year, Moneyfacts announced that 40 per cent mortgage deals had effectively disappeared from the market as a result of the credit crunch and harsher lending conditions.ADNFCR-1222-ID-18514518-ADNFCR

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