Mortgage perks unlikely to swing a deal
Thu 15th May, 17:02:22 BST
Mortgage borrowers are rarely tempted into taking out a mortgage because of the perks that it comes with.
Moneyfacts said that although the perks can be attractive, most people will not take out a loan on the basis of how good the extras are.
The firm''s head of mortgages, Darren Cook, said that borrowers need to ensure that they take out a mortgage which best suits their needs.
"I don''t think it will be the decision-breaker when people are deciding [on a mortgage] - but it''s adding a little bit more value to the package," he commented.
"Within the mortgage market [gimmicks] are few and far between. If you look at the mortgage in its entirety, you need to look at whether that product is suitable for the individual," added Mr Cook.
He went on to point out that borrowers take mortgage borrowing seriously and tend not to place perks high on their list of must-haves.
Moneyfacts said that although the perks can be attractive, most people will not take out a loan on the basis of how good the extras are.
The firm''s head of mortgages, Darren Cook, said that borrowers need to ensure that they take out a mortgage which best suits their needs.
"I don''t think it will be the decision-breaker when people are deciding [on a mortgage] - but it''s adding a little bit more value to the package," he commented.
"Within the mortgage market [gimmicks] are few and far between. If you look at the mortgage in its entirety, you need to look at whether that product is suitable for the individual," added Mr Cook.
He went on to point out that borrowers take mortgage borrowing seriously and tend not to place perks high on their list of must-haves.
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