HOMEOWNERS risk being "massively overcharged" when they switch to new mortgage lenders, a York financial services company claims.
Hunters Financial Services, linked to Hunters, the estate agent based in Colliergate, warns that many borrowers who switch to cheaper mortgages are being charged interest until the end of the month on their old loans, regardless of when they transfer to their new mortgage. Those who switch lenders in the middle of the month on a £100,000 mortgage could be charged up to £220 in interest for the last two weeks of the month, claims Mark Fenton, head of Hunters' Financial Services.
Updated: 09:20 Tuesday, May 28, 2002
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