Expert Mortgage and Insurance Advisors

What to Think About When You Are Looking for a Mortgage Deal

There are a few things to consider, and that isn’t always about the repayments. Sometimes, a deal that suits, a self-employed person for example, may not be the same for someone who is employed. You also need to factor in your situation and whether or not a longer contract time will suit you better.

Some mortgage offers may mean a safety net at that particular interest rate for three years but what might be a safe-guard to you, may be seen as a tie-in for someone else. Maybe you are looking to move jobs and your earnings will increase significantly and you may have lots more disposable income to plough into your mortgage only the deal that you selected does not allow for over-payments. There is indeed a lot to think about to ensure that you secure the very best deal for your own personal circumstances.

Can you Afford the Repayments

This seems like a no-brainer. Why ask the question because you’ll know what you earn and how much you need to repay every month? What if you had to take a pay-cut? What if you lost your job suddenly? Would you have enough in the savings account to make the repayments until you find another job? Does your income fluctuate? Maybe you are a contractor or self-employed. No-one wants the stress of finding themselves in a situation where they are struggling to pay the mortgage each month. It’s always a good idea to make sure that the figures add up, even in trying circumstances.

The Deposit Requirement

Deposits are high because house prices are high. This is why the help to buy scheme was put into place by the UK government: To help people to buy their own home who otherwise may have struggles to get onto the housing ladder.

If you’d like to know more about the Help to Buy scheme, you can find it here.

Life Insurance

It’s not something that we particularly like to think about but what if you or your partner were no longer here? It’s important to know that the mortgage isn’t the first thing on your mind in such a circumstance. Having an insurance policy in place means that there is one less thing to worry about. Your mortgage is paid.

Share this article:
Other recent news articles
1.9% percent summer price drop as stretched affordability begins to improve

1.9% summer price drop as stretched affordability begins to improve

Asking Prices –  Rightmove Data Rightmove’s latest data shows average new seller asking prices fall by 1.9% (-£7,012) this month...

Asking rents hit new record says Rightmove. Is now the time to buy?

Rental Properties Hit and All Time Price High Latest data from Rightmove says average asking rents for new tenants outside...
The mortgage market is still busy despite rising interest rates

The mortgage market is still busy despite rising interest rates

UK Mortgage Market Update The mortgage market is still busy despite rising interest rates. Enzo Mora CEO and founder of...
Speak to one of our mortgage experts
Enter your number below to schedule a callback with one of our team.*
Now choose your preferred day and time
Excellent service, highly recommended. Great communicators and very helpful for us as first-time buyers.
Always there to help with helpful and honest advice, would recommend to anyone. We are first time buyers and they really helped with simplifying all the jargon and giving us great advice.
Chris M
Great communication and customer service throughout the process.
A very helpful, trustworthy and straight,-talking service that got us the result we wanted.
First time buyer
Very informative personnel, happy to help and easy to communicate with. I would definitely recommend.
Excellent service! Couldn't ask for.more. thank you so much !!
Mr&Mrs Martin
Request a
call back
Preferred day*
Preferred time*

Arrange a callback

Please complete the form below and one of our specialist mortgage advisers will call you back.
Preferred day*
Preferred time*

We use cookies on this website. You are free to manage cookies settings via your browser at any time. To learn more about how (and why) we use cookies, take a look at our Privacy Policy.