Mortgages are the largest single transaction in most people’s lives and buying a property can be a stressful and time-consuming experience. There are two main issues to consider when entering into a mortgage, firstly there is the type of mortgage product to choose, and secondly, there is the choice of how to repay the mortgage loan.
• Mortgage Products - there are hundreds of mortgage products available in the market place today and knowing which type to opt for can be challenging. The main options are fixed rate, tracker, discounted or the lender’s standard variable rate. At Lifetime we discuss your preferences and use market-leading mortgage sourcing software to help you make the right choice.
• Mortgage Repayment - there are two main methods of repayment a mortgage loan, repayment or interest only. You should consider each method and whether it is suitable to your circumstances.
To help you calculate the costs of a mortgage under each option please use the FSA’s CFEB (Consumer Financial Education Body) mortgage calculator using the following link.
http://www.moneymadeclear.org.uk/tools/mortgage_calculator.html
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
The Financial Services Authority does not regulate some forms of mortgages.
As we are independent you have the choice of whether to pay a fee for the mortgage advice we provide. Typical 0.5% of the mortgage amount.