Everyone knows that buying a home is one of the greatest expenses we are likely to take on in our lifetime and we all want to make sure we are getting the   cheapest mortgage that is available.

The market has so many different deals that one can truly be overwhelmed by it all and we all need help.  That’s where we come in and it is obvious that, because you are on our website, you understand that you need help.

We offer a free service without obligation, whereby we will do all the hard work of searching the mortgage market to come up with the best and most beneficial deal for you. All we require are a few details about yourself and how much you want to borrow and the cost of the property you are considering purchasing.

Armed with this information we will locate the cheapest mortgage  available.

We all know that the financial climate is really testing and it is far more tough to find precisely the mortgage you need and that’s why we are here to help. If your deposit is tight or you are remortgaging and your home has little equity you will definitely need the cheapest mortgage available. We will do all the searching armed with all your requirements and details and get back to you but below we will discuss some of the things you need to take into consideration.

When a bank or building society are giving you mortgage advice remember that they want to flog you their mortgage product and what they might have to offer is not the best or cheapest on the market.

Looking for a mortgage can be baffling and very time consuming because there are so many different varieties of prices and equations that lenders use. This is where we are able to help, not only in finding you the best deal but saving you time and effort.

There are three criteria that need to be looked at when searching for the cheapest mortgage – rates –fees – loan to value ratio (LTV).

Rates
One would think that the lower the interest rate is then the lower your monthly repayments would be. Therefore the lowest rate that you can find is the one you should go for but this is not so.  Many lenders make their mortgage products look really tempting by attracting you to their low rate, but when you really examine the product you will see that it is not all its cracked up to be. For example, whilst it might have an appealing rate of say 3.49% when you really scrutinize the deal, you find that it finishes after six months and after that you are actually stuck with the lender’s SVR (standard variable rate), which might be as much as 6.99% for another one and a half years. The fact is that if you took a two-year fixed rate mortgage with a rate of 5.95% it would really workout costing you about the same.
Fees
It is becoming more widespread these days for lenders to offer attractive low rates with enormous arrangement charges. They hide the fact this way that the full cost for a two-year period mortgage is really far greater than their appealing rate shows.
Of course when a lender offers high-fee deals they are giving their borrowers a far wider choice and many of the larger lenders do offer low-fee alternatives at higher rates so you, the borrower, can determine what would be the most advantageous to your needs.
The high/low-rate deals are inclined to work best for someone wanting a larger loan as they obtain maximum advantage from small percentage points off their interest rate. But should you be a borrower whose mortgage is less than £250,000 you should really scrutinize the fees because they can make a massive impact on the overall cost of your mortgage deal. You can do this by using our ‘NO OBLIGATION QUOTE’ on our home page.
Loan to Value
The loan-to-value correlation is the relative amount of the property’s worth you are loaning as a mortgage. Should you have a deposit of £10,000 and the house you are wanting to purchase will cost £100,000, then you will require a 90% LTV mortgage deal. Such a deal as this has a relatively high risk factor for the lender in view of the present economic climate. It is quite possible that the prices will drop by more than 10% making repossession of your home likely. In such a situation the lender would not be able to recover all of its money. The lender will be concerned over this scenario and therefore will levy more for a 90% LTV mortgage deal than when the economic climate was better and house prices used to rise rather than fall.
If on the other hand you only need to loan 60% of the value of your home then the lender will regard you as low risk and the charges will be smaller. With this in mind you will now understand that the LTV is extremely important when looking for the cheapest mortgage.

Hopefully you now appreciate why in today’s economic climate it is imperative for you to find the right deal that you can afford and which meets all your needs. Whatever your requirements, be it that you are remortgaging or are a first time buyer, buying a new home can be one of the greatest financial outlays you will make in your lifetime and getting it right is vital.

Remember it takes just a short time to fill in our ‘NO OBLIGATION QUOTE’ box and we will call you back with details of the mortgages that we have found to suit you.