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OFT calls for info for those looking to find a mortgage

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The Office of Fair Trade (OFT) is calling on local authorities to make property information more accessible to those looking to find a mortgage in order to purchase a home .

In particular, for those with a mortgage settled, the OFT is asking local authorities to make all the information needed for a home information pack available now, rather than when they become a requirement in 2007.

This would not only make things easier for those looking to purchase a property, but also ensure that competition from the private sector remains in place for the compilation of local property searches.

Sir John Vickers, chairman of the OFT, said: Property buyers must have all the relevant information that might affect their choice of property .

Developing electronic provision and the introduction of the home information pack mean that there is an ideal opportunity to set the conditions for a dynamic market that serves consumers well in the future.

Meanwhile, those with a mortgage looking to purchase a home should ensure they get the best value for money when paying for property searches, with fees ranging from between �55 to �269.

Meanwhile, consumer watchdogs have been urging people looking to find a remortgage have also been urged to shop around for the best deals and competitive remortgage rates .

With many mortgage holders coming to the end of two year fixed mortgage rate deals, mortgage lenders are jumping at the opportunity to offer competitive deals for those hoping to find a remortgage .

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