Good Mortgage

Mortgage brokers may also charge you a fee directly. No reputable broker should charge more than around 1%, even for sub-prime customers. If yours charges more, walk away.

Fees can be charged at any point in the process, providing they inform you initially. Yet avoid using any broker that charges you before completion; it can cause problems if the details change later.

Mortgage brokers commision

Lenders pay brokers a ‘procuration fee' of 0.25% to 0.5% of the mortgage's value, rising up to 1% for mortgages for those with poor credit.

My chances of getting a mortgage

What can I do to increase my chances of getting a mortgage ?

Check your credit report
Remortgage before changing jobs
Buying for the first time? Can your parents help?
If you already have a mortgage, overpay
Repay other debts
Keep your house in order
Enlist the services of a good mortgage broker

Mortgage rates changes

Mortgage rates change on a daily basis, and sometimes even two or three times per day when the financial markets are exceptionally volatile.

Fixed rate mortgages

Fixed rate mortgages are the traditional loans that have a fixed interest rate over the period of the loan, usually 30, 20, or 15 years. With these mortgages, your monthly payment for interest and principal never changes. Downpayments required on these mortgages can be as low as 5%. If you prefer predictable payments over the life of your loan and don't mind paying a bit more for this assurance, the fixed rate mortgage will be the best solution for you.

Cheap mortgages for first time buyers

Falling house prices have been good news for first time buyers but the credit crunch and the impact it has had on the other means millions of homeowners are still struggling to get a mortgage. There are mortgage offers available though