CML intervenes after BBC mortgage fees probe

Watchdog reported on Wednesday that, though some lenders are trying to tempt buyers with low headline interest rates, the products' accompanying ‘arrangement fees' have risen substantially. Trade body the CML said it was important buyers recognised the distinction between charges relating to administrative costs, and other fees that form a core part of the pricing of the mortgage on offer. It said borrowers benefit by being able to choose from products offering a range of charging options. "Lenders may offer a variety of different mortgages, some of which combine a higher rate with...