The Best Mortgage Deal Ever

The Best Mortgage Deal Ever



The Best Mortgage Deal Ever?
From a​ cursory survey of​ websites and brochures,​ you’ll see a​ myriad of​ different types of​ mortgage .​
The mortgages explored so far are a​ basic overview – you’ll find any amount of​ types – some combining several features and with added incentives to​ tempt you​ .​
Basically,​ if​ you​ can imagine a​ mortgage,​ it​ probably exists .​
So,​ after doing your homework and boning up on​ mortgage terminology,​ how do you​ finally choose? Which deal is​ the​ best on​ the​ market today?
The truth is​ that there is​ no one-size-fits-all super mortgage that will be a​ perfect fit for everyone’s financial situation .​
What you​ need to​ do when choosing a​ mortgage is​ work out exactly what would suit you​ – and this will depend on​ your individual circumstances .​
Once you​ have an​ idea of​ what you’re looking for,​ you​ can let the​ lenders and brokers find the​ mortgage to​ fit .​
Below are some examples of​ possible life situations,​ with ideas for mortgages that may be suitable:
The student
Young,​ single,​ and likely to​ be forever short of​ cash! It’s unlikely you’ll be able to​ find a​ large lump sum for a​ mortgage,​ and your income probably comes from part time jobs – hardly an​ enticing prospect for a​ lender .​
Your best bet is​ to​ approach family for help – a​ loan for the​ deposit and/or a​ guarantor mortgage (combined with proof of​ your responsible attitude) could help you​ get an​ early foothold on​ the​ property ladder.
Pushing 30
You’re paving the​ way to​ a​ successful career,​ and perhaps thinking of​ moving in​ with a​ partner .​
However,​ your salary is​ probably relatively modest,​ and you​ may not have much money saved .​
Ask lenders for their first time buyer deals,​ including 100% mortgages,​ and consider a​ joint mortgage with a​ partner to​ boost your buying power .​
Cashback may be useful for covering the​ costs of​ fees and buying furniture .​
Those willing to​ take a​ bit of​ a​ risk could consider an​ interest only mortgage combined with savings and investments.
Growing success
Perhaps you​ have a​ family or​ dependents now,​ and your career is​ fairly solidly established .​
You may want to​ make the​ most of​ your money by looking at​ flexible mortgages,​ or​ one that can be offset against your other accounts .​
Keep in​ mind your home may have accrued equity by now,​ which could be released by revaluing your home,​ and perhaps switching mortgage .​
If you​ run your own business and have some capital to​ invest,​ you​ might want to​ try a​ self-cert mortgage.




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