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Your home may be repossessed if you do not keep up repayments on your mortgage.

Remortgage

A remortgage is a mortgage that replaces an existing mortgage borrowed for the purpose of purchasing the property. Remortgage deals are often sought to reduce monthly repayments by finding a mortgage with a lower interest rate, or to free up finance from the increased value of the property.

First Time Buyers

A First time buyer is a potential house buyer who has not previously owned a property. As a first time buyer you need to consider which sort of mortgage you should use and how you should repay it. For this reason, most will use a mortgage broker.

Bad Credit Mortgages

A Bad credit mortgage allows a borrower with a bad credit rating to take out a mortgage, a bad credit mortgage usually carries higher interest rates.

Bad Credit remortgage

A bad credit remortgage is a way a borrower with a bad credit rating can take out a new mortgage with a new mortgage lender even though they are not moving properties. Often used to free up equity, a bad credit remortgage often carries higher interest rates.

Buy to let mortgages

A buy to let mortgage is a mortgage you can utilise to assist in the purchase of a residential property that you intend to let rather than occupy.

Commercial mortgages

A Commercial mortgage is a mortgage loan issued for the purpose of buying property or a business, and is typically borrowed by companies or organisations to secure business premises or a going concern business.

Fixed Mortgages

A Fixed mortgage also known as a Fixed Rate mortgage means your monthly repayments will remain constant for the fixed mortgage term, regardless of the standard variable interest rate in the market place. The benefit of a fixed rate mortgage is that you will know exactly what your repayments are however if the standard variable rate falls below the level at which you fixed, you could end up paying more than the market rate.

Flexible Mortgages

A flexible mortgage is the facility to make extra payments when you have extra money. You may also be able to reduce monthly repayments or even take repayment holidays, although you will normally have to build up a reserve through making overpayments before this arrangement is allowed. Such mortgage rates are usually offered on a daily interest basis. Flexible mortgages usually provide a loan drawdown facility that allows you to borrow extra funds at a set predetermined rate.

Mortgage Calculator

A Mortgage Calculator works out how much your monthly repayment would be for any given mortgage. You can change the amount you borrow, the repayment period and even the interest rate to easily compare different mortgages you find on the market. A mortgage calculator will work out the monthly repayments for both equity and interest only mortgages and show you the total repayment for a regular mortgage at the rate that was entered.

How to find the Best Deal Mortgage

To find a cheap mortgage or the best mortgage rate for you ensure that you shop around. If you apply to one mortgage lender they may decline you for their best rate and suggest you tackle a higher interest rate than initially stated. You should try other mortgage advisors and seek mortgage advice which will allow you to get a good mortgage comparison.

BestDealPlease.com News

Latest News 11/03/2010 at 11.58 GMT
 
In a survey conducted by Norwich Union they have found that up to seven percent of their policy holders provided false information about their health when applying for life insurance and critical illness policies.

The company wrote to 5,000 customers requesting that they validate any information that they may have entered incorrectly on their application. Roughly fifty percent of the applicants responded to the initial request with the approximately seven percent of the applicants admitting to providing misleading information which ultimately could invalidate their policy.

Some of the major falsifications of information included things like denial of being a smoker when the applicant was and giving incorrect information about their weight or pre existing health problems.

In a separate poll by Norwich Union they concluded that up to fifteen percent of applicant’s submitted false information when applying for insurance.

The general consensus from most life insurance companies is that it is just not worth falsifying information on their application form because if you are found out you risk having the policy invalidated. This ultimately means that the insurance company has the right to withhold payment on their policy because false information was supplied.
The rate of 1.8% is based upon an Alliance and Leicester 2 year Tracker Mortgage, broker only rate, borrow upto 70% of the value of your home, 2% arrangement fee, correct as of 03/03/2010 Any potential savings may vary depending on the amount you are borrowing and your personal circumstances BestDealPlease.com does not and will not enter into consumer credit or consumer hire agreement as a part of its business. BestDealPlease does not give nor is it allowed to give any mortgage or financial advice. Mortgages are regulated by the Financial Service Authority. Our service is free to you but to operate this service we may receive commissions from the provider or broker we refer you to. Bestdealplease.com cannot guarantee nor does it guarantee that you will receive the best deal.
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