Understanding What Options You Have!
For many a mortgage is key to buying you home and this makes it one of the biggest financial commitments you’ll ever make. So selecting the right mortgage is just as important as selecting the right home.
Here at Mortgages Direct, we strive to make mortgages easier to understand in order to help you make an informed decision. With Mortgages direct, your mortgage broker will with your input find the right type of mortgage to suit your needs, one that is both best for you and affordable.
Our experts will clearly explain the options available to you and compare different mortgage packages, up front costs and the long term value. This is all designed to help you make an informed decision about your mortgage.
So what exactly is a mortgage?
A mortgage helps you own your own home. It provides you with the funds to purchase that dream home. Unlike renting your home, owning a home can be a significant investment into your future as houses can increase in value. This means that if your house increases in value, you can climb the property ladder.
Make sure you are prepared!
A mortgage can be a very tricky thing to acquire, especially in today’s climate. Make sure you are prepared before you apply. Remember that banks have databases and if you aren’t prepared and get refused, they will record all of your data which could affect future applications.
It is best normally to seek advice six months prior to applying for a mortgage. Normally a good mortgage broker will tell you if you are prepared or not. Here at Mortgages direct, we find that most people aren’t ready, however with the right advice and guidance, they could be ready to apply within six months.
Anything else to consider?
Of course, there is always something to consider when it’s your future at stake, so a good thing to be aware of is your finances. With every loan, there is interest and a good interest rate can be very important as well as flexibility within your deal. For example, are you able to pay off your mortgage more quickly and can you take payment holidays? These can be hard questions to answer, but a good mortgage broker will find all this out for you and make you aware of all your options and advise you on the best on the market before you commit.