Headline mortgage rates aren't always best buy

With house purchase lending edging up, Yorkshire Building Society urges consumers to look at the true cost of a mortgage, rather than a headline-grabbing rate.

Tom Girling, Mortgage Manager at Yorkshire Building Society, said: "The headline rate of a mortgage isn't necessarily an indication of what a mortgage will actually cost the consumer. By looking at the true cost of a mortgage over the course of a deal it will allow the borrower to see exactly how much they will be paying."

"Consumers should look at all costs and special offers over the term, such as arrangement fees, valuation fees and any cashbacks, as well as the initial headline rate."