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WH I CH T YPE
OF MORTGAGE
SHOULD I
CHOOSE?
Today there is more choice than ever when it comes to choosing
a mortgage. Fixed rate, variable rate, capped rate the list goes on
and on, but which one is right for you?
A mortgage is probably the largest financial commitment most of
us will make in our lifetime and it is vital that we take professional
advice before committing to any one mortgage deal.
A mortgage is in reality a loan from a financial body or institution
to you in order that you may secure the purchase of a property.
This loan is generally secured against the property and is repaid
over a period of time, usually twenty five years.
But how do we decide which type of mortgage to go for? The
good news is that along with the extensive choice of mortgages
available there is a huge choice of companies wanting to lend
you money.
There are very strict rules that all financial companies must adhere
to when they offer us a mortgage which is designed to ensure you
receive the best of advice.
Do not accept the first deal you are offered, shop around and be
sure the deal on offer meets your work and lifestyle commitments.
Choosing the wrong mortgage can be a costly mistake and is
definitely an experience you can do without.
There are banks, building societies, loan companies and
independent mortgage brokers all ready to help you, take their
advice, but do not rush into a decision.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP
UP REPAYMENTS ON YOUR MORTGAGE