The government recommends that customers searching out a new mortgage, should ask the following ten questions of a lender:
1. How much can I afford to borrow?
2. How can I tell which mortgage rate is best?
3. What is the best type of mortgage for me?
4. How should I repay it?
5. Can I make lump sum payments?
6. Are there any redemption penalities?
7. Does this mortgage come with insurance?
8. What other charges will I have to pay?
9. What happens if I can't pay?
10. What is the small print?
Arm yourself with these questions before seeking out a mortgage.
Northfields Estates recommends that you use an independent mortgage broker so that through them, you will have access to all the mortgage products available and even deals that are often not available directly from high street lenders. Call Northfields on 0208 840 6666 to be referred to an independent mortgage advisor or register your details by clicking here.
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