This week marks Talk Money Week 2021, aiming to highlight the importance and encourage talking about anything money-related. Whether that be discussing with friends, family or professionals, it doesn’t matter.
Money can sometimes be a daunting and stressful thing to deal with, so managing your financial wellbeing should be thought about. Our mortgage advisors in Birmingham explain why it is important to get the right mortgage and explore all your options before leaping in.
How much can you afford to put down as a deposit for your property? Your deposit can determine what type of mortgage products are available to you alongside the rates. The general mortgage advice is to save a deposit of at least 5-10% to have access to mortgage products.
It is important that you research various mortgages to compare interest rates, or leave it to our mortgage advisors in Birmingham to help you find the best options. The interest will determine how much you must pay each month and over the term of your mortgage.
Lenders can sometimes be flexible in the length of a mortgage, giving you more control over your finances and what you can afford. If you are just getting on to the property ladder, a standard mortgage term is 25 years, but you can sometimes extend this to make it more affordable.
If you think that you may move from a property during the term of your mortgage, it is key to see if the mortgage can go with you. This means that you are able to transfer your mortgage to a new property, giving you flexibility and avoiding potential additional fees such as an early repayment charge or exit fee.
When it comes to mortgages, it can be a minefield of what to consider and ensuring that you are confident in your choice. Our mortgage advisors in Birmingham and surrounding areas are here to talk openly with you and hunt for the best options. If you want to talk about money and mortgages with our friendly team, please get in touch by calling 0121 445 1227 or emailing email@example.com
Our mortgage brokers outline how now is the time to make the most of the current rates and future proof yourself against potential rises.