Found 12th Aug 2009
I am currecntly looking into re-mortgaging i only have 90%LTV

I would like someone to help me just reading up on it do i compare these mortgages by Inital Rate of APR?

Just some general advice to look for?

  1. Misc
  2. Mortgage

Just to make it harder (sorry!) you also have to take into consideration set up fees etc. A company may have a lower APR but it could still cost you more through higher fees.

My suggestion is to speak to an independant mortgage advisor (if you go in to any estate agents they should know of one or two for you to get in touch with) - they will give you free advice.:thumbsup:

Also take into account what happens at the end of the rate - does the company specify you have to stay on their standard variable rate for a certain number of years afterwards, or does the early repayment charge end at the same time as the rate does? You also need to find out whether they offer their existing customers new fixed/discounted rates, or whether they only give these to new customers, and what fees they charge for customers going on to a new rate.

Whilst a lot of lenders offer what looks like a good deal to get the business through the door, you need to make sure they also look after their customers when the initial rate comes to an end :thumbsup:

As mentioned above, speak to an IFA, they can check the market for you however they tend to work on a commission basis so to be safe, contact a couple of banks too. They can only offer their own things but gives you a basis for comparison.

Each one you get will give you a KFI (Key Facts Illustration). Then set aside 15 mins and compare them they detail what all you pay for the mortgage and what it will cost if you never change it again.

Should be relatively straight forward from there, they are designed to be user friendly. Any problems or questions give me a shout, happy to help.
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