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Redemption penalty warning

Less than half of all borrowers are being warned about redemption fees when taking out a mortgage, according to research by on-line broker E-loan.


The US mortgage broker who recently set-up a UK service, is claiming the onus is on the industry to reverse consumer ignorance on mortgages.


E-Loan chief executive Andrew Armishaw says: “The answer lies with empowering the consumers rather than regulating the provider.”

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