The article discusses the impact of mortgage cash-back offers, which can initially appear beneficial but may involve hidden costs like legal fees and breakage fees. New rules from the Central Bank, part of the revised Consumer Protection Code, are designed to help borrowers better understand their options when switching mortgages. These upcoming regulations aim to promote transparency and ensure that borrowers have access to critical information, allowing them to make more informed financial decisions in the mortgage market.
Mortgage cash-back offers often seem appealing at first glance, but hidden costs such as legal expenses and breakage fees can quickly diminish their attractiveness.
The Central Bank's new rules aim to empower borrowers by providing clearer information about switching mortgages, supporting more informed financial decisions.
By enhancing the Consumer Protection Code, the Central Bank is taking strides to protect consumers from unexpected costs associated with mortgage decisions.
As borrowers assess cash-back options, understanding all potential costs is crucial for making sound financial choices amidst evolving mortgage offerings.
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