Profit Free Mortgages is re-launching the original Building Society model where people save together to lend together, with no profit involved. Their mission to ‘beat the banks’ and stop the 1st time mortgage ripoff.
Their target is the high cost of first time mortgages.
You may think that with interest rates at their lowest in decades owning a home is as cheap as chips. This is sadly not the case. Although high street lenders are mainly lending our money back to us the cost is huge.
They have been deliberately increasing mortgage terms to 30+ years. The result? Even a fairly small mortgage costs you a fortune.
There is a better way.
Profit Free Mortgages is building a better mortgage product that removes these unfair costs. In this age of technology and connectivity, mortgages should cost nothing like the above. Especially when you consider, it is our money that is being lent.
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