Compare Mortgage rates
To find a mortgage that is competitively priced, it is obviously important to shop around as much as possible, but there are also a number of other methods that may reduce the cost of your mortgage. Such as:
Demonstrating to the provider that you are a reliable customer
Having a good credit rating without any late or outstanding debts
Shopping with the same provider may reduce the cost of your mortgage rates
Offering to pay a larger deposit
For any customer trying to find a mortgage, one of the most of the most important factors will always be the type of interest rate deal that is offered by the provider. There are several different types available, the following are some examples.
Fixed rate mortgages are generally suited to customers who are looking for as much long term security as possible. Using this type of agreement, the customer will be provided with a guaranteed, fixed rate of interest for a set period of time, making monthly repayments very easy to budget for.
Tracker mortgages have their interest rates tracked and adjusted in accordance with the Bank of England’s base interest rates. This means that any decreases to the banks rates will mean cheaper interest repayments for the customer, however they may also be subject to increases depending on the current financial climate.
Offset mortgages are generally best suited to customers who can commit a significant amount of their savings to their mortgage. Using this type of agreement, the customer can use these savings to ‘offset’ the interest repayments on their loan.
Keep these various options in mind while you are consulting our product comparison and judging the differences between various mortgage deals.