Things to consider when choosing a mortgage
- The size of mortgage
This will be dependant on a number of factors:
- the price of your chosen property
- the size of the mortgage payments you can afford to pay each month
- what your mortgage lender is willing to lend you
Check out our mortgage calculator to calculate your maximum mortgage.
- The mortage term
The most usual mortgage term is 25 years. Sometimes mortgage terms can be longer or shorter.
Check out our mortgage payment calculator to calculate your monthly mortgage payments.
- The type of mortgage
There are three types of mortgage:
- Repayment mortgages
- Interest only mortgages
- Current Account mortgages
- The type of interest agreement
The majority of applicants choose a fixed rate or a discounted variable interest deal, although there are other variants available.
- The length of reduced interest deals
If this option is available, they usually last for two to five years, your mortgage advisor will give more information on these.
To find out more, fill in our mortgage application form to enable our Mortgage Experts to advise you on the best type mortgage for your personal needs.
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