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Struggling mortgage holders `should seek advice` Remortgage enquiries `rise in June` Mortgage approvals `up in June` UK mortgage market remains weak, CML says Consumers `should avoid lying on mortgage applications` BoE releases Trends in Lending report Brits `prioritising debt repayment` "Sensible lending" needs to be restored for home buying Many households `to miss mortgage payments` Homeowners `increasingly paying off mortgage debt` Booklet produced for those facing mortgage repayment problems Local authority defends decision to offer 100% mortgages Mortgage lending levels `still low` CML welcomes campaign on repossessions Consumers `increasingly offsetting savings against mortgages` Banks `should be encouraged to provide more mortgages` Younger and richer people `benefiting more from mortgage reductions` Bank of England cuts base rate Negative equity `concerning UK mortgage holders` Interest rate cuts `were not anticipated by consumers`

Consumers `should be careful` of remortgaging fees

29/08/2007

Homeowners who are looking at remortgaging their property should take into account all the costs involved in the process, an industry body has warned.

Those looking to get a better mortgage deal with a different lender must know about the legal fees occurred within the process, the Council of Mortgage Lenders (CML) has said.

While remortgaging to save money is a "major motivator", many looking into the industry do not "take account of all associated costs and charges", CML head of member and external relations Sue Anderson said.

She added: "That`s a very important factor for people shopping around - to take account of all fees and charges, whether they are legal fees, valuation fees or indeed the lender`s administration fees."

Statistics released yesterday by the British Bankers` Association Showed a 12 per cent rise in the number of remortgage approvals in July, compared to the same month last year.

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