24 Jan

Which? reveal best lenders for fewer fees

Which? reveal best lenders for fewer fees

A chart revealing which mortgage lenders apply the fewest fees has been published, and could prove useful for people looking for property for sale in the UK.

The lender with the smallest number of fees is Stafford Building Society, according to a report by Which?, as it applies only three additional fees to mortgage deals.

HSBC and First Direct came second and third in the chart, meaning the two banks charge a smaller number of fees than any other UK bank.

The average UK mortgage lender can charge more than 20 different fees, according to the consumer body.

Stuart Beattie, head of mortgages at HSBC, commented: "Once a customer completes their mortgage with HSBC there are no further fees during the life of the loan.

"Our transparent fees approach provides homeowners with an assurance that if the fee isn't mentioned in the sale documents, then they won't have to pay it." 

The bank also offers several fee-free mortgages, he added, which could mean savings for buy to let investors or first time buyers.

As part of a New Year sale, HSBC scrapped fees on their tracker mortgages. ADNFCR-1222-ID-800359868-ADNFCR

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