Navigating the mortgage maze

The battle for Britain's homeloans has stepped up a gear, but while borrowers have never had so much choice the homeloans market has never been more complicated.

In a bid to keep up with the competition for eye-catching interest rates, more often banks and building societies will try to claw money back via higher fees and charges.

The average fixed-rate mortgage arrangement fee rose by 22% over the past year to £494 according to price comparison site Money Expert. And exit fees, which typically stood at around £75, have in many cases risen to more than £200.

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