Hidden HLCs?

vwjo

We're buying a property for 150k, with a 5% deposit - (and yes, I know this is a horrible time to be doing it!) Having a chat with a broker on Saturday, he had a few likely looking options, but some carried an HLC, and some didn't.... I'm finding it really hard to tell when checking best buys online which deals have this Higher Landing Charge? Interest rates/fees/early repayment charges are all there, but how can I tell if they also carry an HLC?

Am I being thick? Apologies if I am......... Help!

Dan_Collins_2

SHould be on any KFI if you are charged for it. Online is hard work, better off calling the lender.

Remember to look at it from a few angles. YOu may get a better rate with a HLC you pay, but they add it to your mortgage balance. If the lender pays the HLC then you payments may be a little higher but the balance is not increased.

vwjo

Thanks Dan. I just find myself even more confused than before since we spoke to the advisor.... For example, having looked online, there were a few deals where we would have been paying under £900/month - but the deals he had (once he had filtered out all of those with HLCs) seemed to be almost £100 more each month! Could this just be because the deals I had seen all carried this charge, but didn't make it clear? Thanks in advance.....

dunstonh

The broker would limit his searches based on the criteria you give him. Sometimes its best to not limit the criteria too much as a higher upfront fee can result in lower monthly payments. However, you have to cost the fee over the term of the tie in to see which comes out best for you.