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FSA goes live with mortgage tables

The FSA&#39s comparative mortgage tables went online last week, with the regulator claiming they will help consumers compare up to 1,300 loans.

But Nationwide Building Society has attacked the tables for failing to include filters allowing people to search for Catmarked products.

The FSA says consumers can use its interactive tables at www.fsa.gov.uk/tables to access information from 100 mortgage providers on their most commonly bought products.

Consumers can compare interest rates, including initial and standard rates as well as APRs, restrictions such as early repayment charges, fees and incentives like free valuation fees and cashback, flexibility and whether mortgages can be linked to current accounts.

But the FSA warns people not to go on first impressions and look beyond the initial rate and consider the whole package.

Consumer relations spokeswoman Beverley Brewster says: “Unlike other websites, these tables are not trying to sell you a mortgage. They are intended to help you shop around and make a short list of the best value deals. Then you can explore the ones that interest you in greater detail directly with the provider or broker concerned.”

Nationwide chief executive Philip Williamson says: “It is very disappointing that the comparative mortgage tables have been launched without it being possible for consumers to search through products on the basis of total cost or whether they meet the Cat standard.”

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