Mortgages – Making The Right Choice

Take the time to choose the right mortgage for long-term financial security.

Your mortgage is likely to be the biggest debt you’ll ever have. You will have to make regular monthly repayments for around 20-25 years, so it’s a huge financial commitment. For that reason, you really shouldn’t rush into choosing a mortgage unless you’re absolutely sure that it’s right for you.

Mortgages made safer

Before the mortgage market was regulated, consumers were often sold mortgages that weren’t suitable for them at all. Endowment-based mortgages were particularly bad for many people – they paid the interest each month and then saved money into an endowment policy that ran alongside the mortgage. Unfortunately, the endowment policies didn’t always perform as well as mortgage sellers had promised, and homeowners were left with a large amount of capital to pay at the end of the mortgage term, and no money to pay it with.

In today’s market, mis-selling has been almost completely eliminated. Mortgage advisers must have recognised qualifications and must be authorised and regulated by the Financial Services Authority before they can give advice to consumers. They must provide a clear explanation of what they think the consumer’s needs are, and reasons why they have recommended certain products. These changes have all been made to protect the consumer from bad advice and to help them choose a mortgage product that is as safe as possible.

Helping you to choose your mortgage

If you are honest and open about your needs and your current financial circumstances, your mortgage adviser can use his or her knowledge of the mortgage market to recommend the mortgage products that will work best for you. This saves you time, effort and money, and ensures that you are able to choose a mortgage for long-term financial security.

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.