The Sunday Times - Warning over C&G's £30,000 mortgage fee
Cheltenham & Gloucester has come under fire for launching a mortgage with fees as high as £30,000.
C&G’s loan is a two-year tracker charging 1.99% a year for those with a 40% deposit and is available on loans up to £1m — meaning that some borrowers could pay £30,000. On a £200,000 loan, the 3% fee would be £6,000.
Aaron Strutt of Trinity Financial, a broker, said: “It beggars belief that they would launch this deal with a maximum loan size of £1m — C&G would be fully expecting to write business on this and it’s simply not in the borrower’s best interests.”
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