FSA aims to assist indebted students

Moneyfacts.co.uk claims that while consumers across the country often concern themselves with an array of costs associated with buying a home, the issue of valuation fees is commonly overlooked.

And the money search engine is urging prospective mortgage lenders to take the variations in valuation fees into account as they decide which provider to enter a mortgage deal with.

“The difference in costs between the top ten mortgage lenders, even for the basic valuation, is as much as £360 and for a homebuyer report is £345,” said Julia Harris, mortgage analyst at Moneyfacts.co.uk.

“With such large variations in the size of fees, the valuation must be yet another part of the mortgage package to compare when shopping for the best deal,” she added.

Including mortgage arrears, the average debt management burden for a British adult stands at more than £28,000, according to figures from Credit Action.

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