Mortgages Made Easy

Is it possible to make mortgages easy? It is if you talk to the right people.

Buying a house is widely recognised as one of the most stressful things you can do. It’s not just finding the right house that’s the problem, it’s finding a house that you can afford, and finding a mortgage that’s right for you. Choose a mortgage that offers you a high salary multiple – 4 or 5 times your salary, for example – and you could end up in trouble if interest rates rise. Choose a more affordable mortgage, and you may not be able to afford the home you want.

Making the mortgage choice

The simplest way to find the mortgage that’s right for you is to get some expert advice. The mortgage market is enormous and complex, with mortgages available from huge lenders like the high street banks down to independent mortgage companies that you may never have heard of. You are unlikely to have the time, the knowledge or the energy to find the right product in amongst all the thousands that are on the market, but a mortgage adviser will. They will ask you about:

• Borrowing level – how much do you want to borrow? All mortgage quotes are based on the amount of money you need to borrow, so you must be prepared to tell your adviser how much money you need.

• Deposit – do you have a deposit saved up, or a cash balance from selling your previous property? This will decide how much of the property price you need to borrow. Not all lenders will give you 100% of the property value, so that amount of cash you have already will make a difference to which products you can use.

• Repayment type – what sort of repayment plan are you looking for? Make sure that you can afford the repayments and savings plans that will be needed to ensure that you can pay your mortgage of before or at the end of its term.

• Benefits – are you looking for a mortgage that lets you overpay when you have some additional money, or allows a payment holiday if you’re finding things a bit tough? Do you want to remortgage quickly, and do you need to know what your redemption penalties are?

If you are looking for a mortgage, let the experts save you time and money by finding the right product for you. Homebank has only the best mortgage consultants ready to advise you on all your mortgage and insurance needs. For useful mortgage advice, call us to arrange a no obligation appointment to suit you. Homebank is the ‘people’s mortgage broker’ with over 3500 mortgage products to choose from, including products that are not readily available on the High Street. Homebank’s experienced consultants could find the ideal product for you – call us now on free phone 0800 052 3604 or enquire online.