There are currently around 6 million homeowners who have an interest only mortgage. This type of mortgage means that the monthly repayments that you make are just taken off the amount of interest that the mortgage accumulates. The capitol which you borrowed must be paid back when the mortgage has run its terms.
Understanding Mortgage Basics
Being able to buy that house you have always wanted probably means that you will need to get a mortgage. Another word for a mortgage is loan – which you usually get from a bank or other lending agency. Since most people are not able to buy their house with cash, a loan is the most common practice. Here are some things to help you understand mortgage basics.
The Best Home Loan For You
What Type of Home Loan is Best for Me?
The Cheapest Mortgages Can Be Found If You Get Several Quotes
You have to compare quotes from several lenders available in the market if you want to be able to compare the cheapest mortgages. However the cheapest mortgages are not only just about how much the interest rate is but also any additional costs which could be added onto the cost.
Sniffing Out Discounted Mortgages
These days, mortgages provide the answer to our house-buying woes. These days, there are many kinds of mortgages that may be available to us. Most commonly, we have a choice between fixed rate mortgages and adjustable rate mortgages. The former type of mortgage charges a fixed rate of interest that will remain at a constant rate for the entire period of the loan. The latter, as the name suggests, charges an interest rate that fluctuates depending on the prevalent market rates…
Some Of The Best Mortgage Deals Can Be Found Online
Forget about taking out a mortgage with the high street lender. A far better and effective way to get the best mortgage deals is by going online with a specialist website. By doing so you will be able to compare mortgages from some of the top UK lenders so you can be sure you have the cheapest rates of interest.
Standard Variable Rate Mortgages
Following the increase in interest rates on 5 July by 0.25% it is widely expected that most lenders will increase their standard variable mortgage rate by at least the same amount and indeed some have already done so. But what is a standard variable rate (svr) and how does it affect you?
Ten Important Questions To Ask Your Mortgage Loan Broker
When looking for a mortgage in todays market you are swapped with information, products and deals. This can make the whole process very daunting and confusing. For this reason it is good to be prepared with a set of questions to ask your mortgage broker, so that you do not get ripped off and you know where you stand.
Saving A Fortune With Your Mortgage
Life is full of choices.
Second Mortgage Tips
When it’s time to find a second mortgage on your home, the time you spend looking for the right mortgage at the best rate can really pay off. There are lots of reasons someone might want to get a second mortgage. You could want to lower the amount you pay per month, consolidate your debts, build up some equity on your home, or get out of your first mortgage a lot faster. It doesn’t matter why you’re looking for a second mortgage. What matters is paying attention to the import…
Secured Loans – Cashing In On Rising House Prices
Look in any estate agent’s window and it becomes clear very quickly how much house prices are rising across the UK. But that can be a real advantage to a homeowner looking to raise some quick cash – perhaps to consolidate credit card and other debts or to embark on some home improvements.We’re talking secured loans here, of course, perhaps the easiest form of loan to obtain.That’s because security for the loan is provided by bricks and morter – your home, in other words.And b…
Securing That Fixed Rate Mortgage
These days buying a house is like gaining a degree in finance. Thanks to the fact that most of us are unable to afford a house all on our own, we have to do the rounds of the various loan providers. Finding great loans and mortgages from the millions that crowd our mailboxes is quite a task. You have to keep your eyes open all the time. And you have to weigh each option as objectively as you can. In addition, you do get to find out about all kinds of loans that are put out th…