Where Are The Cheapest Mortgages?
Another popular and almost impossible to answer question! Just because a lender advertises an impossibly good mortgage rate does not mean that it is open to all. There will probably be restrictions such as you might need to place at least a 25% deposit and have an impeccable credit history. Break either of these terms and you might find that the offered rate is a lot higher. The only way to find the best rate is to know which lenders are most likely to be willing to work with you for your circumstances and which of these are offering the best rate. Should I Have A Repayment Or An Interest Only Mortgage? The idea of the interest only mortgage product is that you have an investment that raises enough cash at the end of the mortgage term to pay off the mortgage. But recently lenders are seeing more borrowers struggling to pay off their interest only mortgages at the end of the term and many are therefore not accepting any more new interest only applications. Therefore, you might not have
