When you choose a mortgage, your choice will be between a repayment mortgage or an interest- only loan. With an interest only mortgage some lenders may require you to have a suitable investment product.
If you have a repayment mortgage, some lenders may also advise you to arrange life insurance alongside the loan.
You may be able to choose between fixed rate and variable rate mortgages. Fixed rate loans will give you some certainty about your mortgage repayments whilst variable rate loans could move up or down. You should also remember that your mortgage repayments could rise if interest rates rise, depending on the type of mortgage you have.
Have you ever wondered?
1. How many different mortgages are there?
2. What type of interest schemes are?
3 Which is more recommendable and why?
4 Would I be suitable for a mortgage?
5 What do I need to apply for a mortgage?
6 How much deposit would I need?
7 What services are provided?
8 Is there any fee