Best Buys

Behind closed the doors of the mortgage world, 'best buys' are often referred to as 'lies lies and more lies' and even though we feel that the 'lies' element is a little strong, we do feel that there are so many elements to a mortgage nowadays - that all of todays best buy tables quite simply are misleading and are purely used as a promotional tool.

Having had many years working in the mortgage industry, we can only remember a handful of times that the 'best buy' that a potential client has seen in their Sunday paper or a website has IN FACT been the right mortgage for them.

You have numerous different types of fees. Application fee, valuation fee, broker fee, completion fee - not forgetting early redemption fees

How long will you be tied in to a mortgage? Is it a length of time over past any beneficial interest rate? Some Tie Ins could penalise you by up to 10% of the amount you borrow - imagine that!

With the availability of mortgages reducing. It's important to look at a lender that is offering a low standard variable rate (or revert rate) Currently these range from 2.5% to 8% - a big difference!

This element has delibarately been left until the end. It is often looked at as the most important element and quite simply it isn't. Don't be caught out by misleading 'best buys'.

To look at one of these elements individually would be foolish. The only way to get a balanced view and to find the right mortgage for you, is to get advice by making an enquiry. We're mortage experts and are well positioned to help you find your perfect mortgage.

If you're fairly knowledgeable about mortgages, you may want access to a mortgage comparison service. We believe that the FSA's website offers this information in the best format. It still won't tell the whole story, so please use it and then feel free to come back to us, for us to give you advice.

If you want expert advice from a friendly & professional adviser, please get in touch.

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