The mortgage definition for Direct lenders:
Provide financial services over the telephone and through the internet. Lower overheads resulting from a lack of high street premises and centrally streamlined processes mean that the overall costs are much lower and part of this saving is used to deliver cheaper products. Add to this the convenience of arranging a mortgage outside working hours from your own home, and it is easy to see why these new operations are finding favour.
Council of Mortgage LendersCouncil of Mortgage Lenders
An institution that sets out code a code of good practice which mortgage lenders volunteer to stick to - they are not regulated by the government.
High street lendersHigh street lenders
Providers of mortgage products who can be broadly split into two groups - the building societies and the banks. Banks are profit-making businesses that return a portion of their profits to shareholders in the way of dividends. Building societies on the other hand, are mutually owned organisations, which exist not for profit but for the benefit of the members. They claim that this allows them to return profits to their customers in the form of cheaper products.
Lenders arrangement feesLenders arrangement fees
Fee for arranging a loan passed on to the buyer by lender. Lenders basic valuation The lenders assessment of the value of a property before authorising any loan against it.
Further Suggestions Lenders fees
Lenders legal fees
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