The Financial Services Authority (FSA) has launched a website geared towards helping home-buyers cut through the complications of choosing a mortgage.
A survey by the FSA also found that mortgage-holders and first-time buyers were baffled by confusing mortgage jargon.
According to the findings, over half of mortgage-holders and first-time buyers do not know what APR (annual percentage rate) stands for and over a third admitted they did not understand the literature given to them by their mortgage provider.
The website - mortgageslaidbare.info - includes a mortgage calculator so customers can work out how much they can afford for a mortgage, mortgage tables so that buyers can compare providers and a 'Firm Check' which allows users to check if the firm they are dealing with is authorised.
The £1.5 million advertising campaign involves naked cartoon people holding up cards with mortgage-speak on them to protect their modesty.
The FSA assumed regulatory responsibility for mortgages last year and says it wants to "help" consumers understand the complicated world of mortgages.To read more about Best Mortgage Deals, click here.
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