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FSA Mortgage Calculator and Advice Page

The FSA mortgage calculator (Financial Service Authority) is part of their Money Advice Service page, a project which aims to educate homeowners and offer guidance on all forms of finance. The difference between a FSA product and any other calculator on the mortgage is accuracy; the FSA is an authority that specifically protects consumers, not lenders, and aims to deliver the most accurate, factual information than any other product on the market.

In fact, the FSA is the regulating authority for all financial lenders. Any lender will state they are regulated by the FSA because they are the ones who set out strict guidelines about lending and finance with the aim to protect the customer. Their advice service is strictly aimed at homeowners and other consumers, offering legal advice for sticky situation, budgeting tips, mortgage guidance and, more importantly, factual calculators based on Bank of England mortgage rates that incorporate other aspects of the mortgage product.

The FSA's Money Advice Service sets out key simple steps to help homeowners through difficult financial times. They also offer free debt advice along with their FSA mortgage calculator service. The project came about when new figures showed that a large majority of mortgage lenders, most of which were family providers, were worried they couldn't meet their mortgage repayments in the next 12 months and had not made any plans to make up the extra money. Moreover, most homeowners weren't sure what they would expect to be paying on their mortgage should the interest rate change.

You can view the FSA page at FSA.gov.uk or view the Money Advice Service page, which includes the FSA mortgage calculator, at moneyadviceservice.org.uk.

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