plonkee money an english-er's thoughts on personal finance

July 10, 2007

all about mortgages: advice

Filed under: house — plonkee @ 5:12 pm

When is it a good idea to go to a mortgage advisor for help in choosing a mortgage?

Although I’m a big believer in DIY finance, probably� lots of� people should go to a mortgage advisor. Not just any sort of mortgage advisor though, what you need is a mortgage advisor that looks at the whole of the market. The reason that I think you should do this, isn’t� because they have a piece of software that queries the database of all the mortgage offers (although they do have this), its because it can be hard to determine the best deal from it even if you have very straightforward circumstances.

You can access the information yourself but it can be difficult to interpret and you� must� be be sure that you have a good enough credit score to qualify. You also� need understand all of the details of the mortgage being offered – to pick the best deal you must be aware of the interest rate, the repayments and the fees. A mortgage advisor is also helpful as they deal with a lot of the paper work for you.

On the other hand if you are confident that you can do this by yourself (I probably will be when I come to remortgage in a couple of years) then you need to head for the money back mortgages mortgage wizard. They can do execution only mortgages (you must pick it yourself) and they will rebate half the comission. I found this nugget of a website through money saving expert so due credit must go to them.

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