With our mortgage reviews we can assist you in finding the ideal mortgage. We'll show you the best mortgage deals currently on the market and we'll publish the feedback information provided by readers talking about their own experiences.
The idea is that everyone is better informed. Our various sections review different types of mortgages, allowing you to find exactly the mortgage you're looking for very quickly, whether you are looking for the cheapest mortgage or the most flexible deal. Most of the mortgage companies we review are well-known brands with a high street presence, so you should feel happy dealing with them.
We'll also include some of the smaller, less well-known companies as they often run short term promotions with some attractive offers. Specialist mortgages, like bad credit remortgages are covered by specific lenders you may not be too familiar with. For these companies our review sections will be a goldmine of information to you.
Interest Rates are seemingly on a constant climb and bigger mortgage payments are starting to hurt some people. We'll keep you informed with the latest mortgage developments and the newest mortgage and remortgage deals.
There are various types of Mortgages.
In this first section we take a look at mortgages in general and explain why there are various types available. We'll help you with a step by step plan to make sure you don't pay too much. There are probably hundreds of companies that offer mortgages so take your time, do your research and make sure you arrive at a mortgage that suits your needs.
Cheap Mortgages - We all want to end up paying as little interest as possible when borrowing money to pay for our home, but mortgages are quite complicated now and it's not always easy to see which really are the cheapest deals. The easiest figure to focus on is the rate of interest being charged but there are other factors that can be very important. Mortgage companies have started to load up their fees on various parts of the mortgage: acceptance fees, survey fees, conveyancing fees, termination fees - they can all add up to a substantial sum, especially when your mortgage may only last for a one or two years before you remortgage.
Discounted Mortgages are almost the norm now with few companies regarding their standard variable rate (SVR) product as their mainstream competitive deal. Very few people should have to pay a lender's SVR - in fact unless there are penalties in place to stop you moving, we'd suggest everyone on an SVR product should be looking at moving to a discounted rate as soon as possible.
The next decision to make is who to go with - there are so many providers of mortgages as you will see looking through any newspaper, even supermarkets are teaming up with lenders to provide mortgages.
Mortgage interest rates received favourable news early in December when the Bank of England finally annouced a cut in base rates after a run of five increases since August 2006. Further cuts now see rates standing at 5.0% and an additional 1% drop is predicted during the remainder of 2008.
Fixed Rate Mortgages tend to be in fashion or not. Unless you are in a situation where it makes perfect sense to go for a fixed rate product, the popularity of fixed rate deals tends to reflect the general trend in interest rate changes - if they are going up then fixed rates become more popular - but when rates are going down they are less so.
Fixed rate mortgages came into the spotlight recently when the government announced plans to encourage the industry to provide a wider range of longer term fixed rate deals - with repayment periods of 10 years or longer - the aim being to give borrowers more stability with their finances.
In our March news update we provide a fixed rate update
Our reference section contains detailed guides and news on the mortgages market.
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