We all spend the majority of our time at work or with the family, with very rarely any time left over for anything else. So the last thing in the world that we want to do is spend an evening talking shop with a mortgage broker.
Well the reality is that many households are paying more than they need to for their mortgage and if you have not done your homework there is a good chance this includes you!
Raising the funds to buy a property is statistically one of the largest investments that you are likely to make in your lifetime. The wrong choice of mortgage can easily cost thousands, even tens of thousands.
The average mortgage across the UK is around the £150,000 figure where a 0.5% difference in interest rate would cost/save about £750 a year, which I am sure you will agree is substantial. Now compound this over a 25 year period and it does not bear thinking about!
Making an uninformed decision about a mortgage can be extremely costly, so make sure you know what all your options are...
Mortgages are a technical product with multiple variations and choices, which will require a certain amount of time and learning on your behalf to understand. Bearing in mind that mortgage brokers have to sit professional exams to certify their knowledge, so you can not expect to know your best options straight away.
This article is not intended and does not in any way provide advice. If you require professional Independent, whole of market mortgage advice you must speak to a qualified mortgage broker.
Good Mortgage Advice Could Save You £££s
Lets hypothetically consider if you could reduce your mortgage repayments by just £20 per month spread over 25 years. This would total £6000 that has remained in your pocket, which I am sure you will agree is a substantial amount. If you think it is worth 5 minutes of your time then read on!
Who Needs a Mortgage Broker!
Who needs a mortgage broker, all they do is borrow your watch to tell you what the time is. The data base of mortgage lenders and products that they have access to is no different from what you or I could find out for ourselves. Anyway my bank is really help full and the adviser there will bend over backwards to help me.
The End of Interest Only Mortgages?
Interest only mortgages could soon be a thing of the past, according to a new report released by the Intermediary Mortgage Lenders Association (IMLA).
