Where to get a Mortgage
These days there are a number of different places to go for a mortgage. You could opt for a building society, the historical home of mortgages. The big building societies have national branch networks and offer a full range of mortgages. Or you might choose a small society that could offer you the benefit of its local knowledge.
Then there are the banks, which have cornered the majority of the mortgage market in recent years. Many of the big former building societies converted into banks in the late 1990s. Keep reading where to get a mortgage ››
Finding the right homeloan
1. What types of mortgage are available to me?
Most lenders offer a range of fixed and capped rates, discounts and
flexible mortgages. Some offer base rate tracker mortgages, and some
will give cashbacks. Chat through which deals are available for first-time
buyers, and which will best suit your needs.
2. What would my monthly payments be?
Get quotes on a number of deals too see what your payments would be
and whether they fit your budget. Ask for a quote on what your monthly
repayments would be at 10% interest. If that would be completely beyond
your means, you could be over-stretching yourself. Read more tips on finding the right homeloan ››
What to do when you're self-employed
If you are one of a sizeable number of workers who are either self employed or currently working on a short-term contract. Whilst you may be are financially sound, it is often difficult to prove a level of their earnings to the satisfaction of a lender.
A handful of mortgage lenders have recognised this and look to welcome customers in these situations. These are the specialist lenders who understand the needs of the self employed borrower and continually look to improve the terms and features of their mortgage products to meet the needs of the market. More advice for the self-employed ››
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