Guide To The Best Mortgage

calculator and papers

There are a range of different mortgages on offer from a range of different providers, how can you work out what is right for you?

The enormous array of UK mortgages available to homebuyers means there is almost certain to be a home loan that will suit your situation. The trouble is, it is exactly this abundance of choice that makes picking the best mortgages such an overwhelming task. Just where do you start?

A trawl up and down the high street paying a visit to the myriad of mortgage lenders you will find there can be as good a place as any. This way you will find out how much you are able to borrow, what rates are on offer and which lenders are able to cater to your particular needs. Your own bank might offer its existing customers improved interest rates or increased borrowing power.

Many high street banks allow graduates who have banked with them through their student days the chance to borrow a higher multiple of their salary, with some offering as much as four times the graduate's salary.

Another option is to place yourself in the hands of a mortgage broker. It's important to find a reputable, independent broker - although beware, a broker calling him or herself independent may only offer the products of a handful of lenders. Equally important is the cost involved as a broker may charge a flat fee for the arrangement of your mortgage, or they may charge a percentage of the amount you borrow. Always ask - remember it's your money and if they earn 1% for the life of your loan, how do you know they are not recommending a deal that's not the best available for you.

The advantage of an independent broker is the ability to sieve through the many unsuitable products until they reach the right one, which means that the amount you pay them could pale into insignificance compared to the amount of money they save you on your mortgage.

What's more, increased buying power can often mean they can offer favourable deals on loans, perhaps valuation fees waived or a lower rate of interest. Many brokers and lenders have an internet presence, and some offer you the opportunity to apply for mortgages online. However, some financial advisers feel that using the internet to apply for what is probably the most important financial commitment you will make is not such a good idea.

A bit of good old-fashioned communication with another human being, even if it's by phone, could save you from making a rather drastic mistake.

Useful Websites

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  • Go Direct
    With a mortgage calculator, you can also compare over 5,000 mortgages including fixed, variable and repayment.
  • Calculator
    Offers a range of financial calculators and financial news
  • Estate Agent
    Industry resource directory highlighting letting, purchasing and financing resources.
  • Mortgage Payment Calculator
    Offers calculation software which can be used to estimate monthly payments for a wide variety of home loans.
  • Bad Credit Mortgages
    If you are looking for a mortgage and have bad credit, CCJ's, defaults or other past payment problems than A Mortgage 4 You can help.
  • Find That Mortgage
    The Complete Mortgage Service - specialists in debt consolidation, self cert, adverse credit mortgages and remortgages. Expert advice and quick decisions.
  • Add Your Website Here

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  • Find A Mortgage Broker Online

    Mortgage brokers are currently available to you through the internet. Check out our guide to finding a mortgage broker, with excellent rates and repayment options.
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    Get a great mortgage online or remortgage today. Check out how the internet can get you some great mortgage deals.
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