- Wednesday, 29 April 2009Britons who fail to check fees over the full term of mortgages could find their need for
IVA solutions increases as a result.
Yorkshire Building Society has called for those planning to buy a new home to look beyond the headline rates offered on mortgages.
But those who have already purchased a property could find
IVA help is needed if extra costs tip the balance on their personal finances.
The financial services provider notes that homeowners could face additional fees on valuations and the arrangement cost for a new mortgage.
Mortgage manager Tom Girling comments: "The headline rate of a mortgage isn't necessarily an indication of what a mortgage will actually cost the consumer."
Homeowners who have fallen foul of such an error could look to
IVA solutions in order to resolve their situation.
Setting up an IVA can address outstanding amounts owed on a number of different debts with different lenders, helping individuals to get their finances back on track.
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