Best Mortgage Deals
There are so many different options when it comes to mortgages that it can be hard to be sure you really are getting the best deal. This will also vary depending on your individual requirements and preferences. We are a whole of market brokers so we look at all banks, building societies and smaller lenders for you. Do you need a fixed, variable, tracker, ability to overpay, the option to port in the future, or are you a first time buyer? All of these aspects and more will be discussed.
The mortgage market is constantly changing at the moment, with the cost of living crisis. Rates are regularly changing largely due to inflation and outside factors such as the Ukranian war. It has never been more important to use a flexible mortgage broker who can act quickly to find the best mortgage deal and apply at short notice.
Your situation may be different now compared to when you last looked at your mortgage so it is important to always review all options. A lot of customers will simply stay with their current mortgage provider or only speak to their bank as they offered them a good rate previously or they have banked with them for years but this could well be costing you money.
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01603 555428
What makes the best mortgage deal?
Is the lowest rate mortgage always the best?
Be wary when looking purely at the interest rate that there are sometimes high arrangement or product fees. We will take any fees into account prior to making our recommendation.
How important is having the flexibility to make mortgage overpayments, whether they are regular or lump sums?
If you get paid a quarterly/annual bonus or are waiting on inheritance it can be worth considering overpaying to reduce the interest paid overall. Nest Mortgage Solutions can compare mortgage options for you to find one that suits your needs.
Should I avoid an arrangement/product fee?
Depending on the size of your mortgage it may not make financial sense to pay an arrangement/product fee.
Should I be able to change the mortgage deal at any time?
When in a benefit period with a bank they will usually have an early repayment charge for you to leave the deal. In an ever-changing market some may wish to avoid this.
Does getting a free valuation help my mortgage?
Some banks offer a free basic valuation as part of the application. We will make you aware of all costs prior to applying for a mortgage.
How important is being able to move (port) my mortgage?
If you are planning on moving during the initial benefit period then moving your current mortgage can sometimes be the most cost effective option. We will review this along with looking at all new deals too.
Can I offset my savings against my mortgage?
If you have savings that you plan to keep hold off long term than it can be beneficial to use this to offset the mortgage interest which in turn will pay the mortgage off quicker.
How can I protect myself from future mortgage interest rate rises?
Fixed rates will stay the same for a set period of time. This is usually 2, 3, 5 or 10 years to help budgeting and security.
Is a lower mortgage interest rate initially worth considering?
Variable, tracker or discount rates tend to be lower initially and will usually move in line with the Bank of England base rate or the providers standard variable rate.
Should I ensure the mortgage is repaid in full at the end of the mortgage term?
Capital repayment mortgages mean that each monthly payment pays some interest and some off the mortgage debt so that it is fully repaid.
Should I consider an interest only on a mortgage?
In certain circumstances it may be that you only want to pay the interest on the outstanding mortgage. Please note that banks have more stringent criteria to allow this.
Can I get any cashback at completion?
Would a cashback help with decorative costs? A lot of banks will now offer cashback incentives. Don’t be fooled this is meticulously calculated. We will ensure all costs are considered prior to making our recommendation.
Note: Your home may be repossessed if you do not keep up repayments on your mortgage.