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If you are searching for a graduate mortgage, certain lenders may still be to offer you a deal with a lower LTV. To apply for a graduate mortgage, you will generally need to hold a degree from a recognised UK university and be within a certain age bracket, as specified by the lender. You may also need to apply for a graduate mortgage within a certain time period after graduating.
- A graduate mortgage could help you get onto the property ladder quickly, therefore allowing you to move up quickly
- Graduate mortgages often do not offer the most competitive interest rates
- If your career does not go to plan, your mortgage may no longer fit your circumstances
- As graduate mortgages are less readily available, your choice of mortgage could be fairly limited.
Here is a list of tips that could help you to find a reasonable graduate mortgage deal:
- Save as much money as possible for a mortgage deposit
- Compare graduate mortgage deals on offer from several different providers
- Use a mortgage calculator to help you work out the affordability of each mortgage deal
- See if your current account or savings account provider could offer you a mortgage deal with preferential rates