Choosing Mortgage Comparison Sites for the best deal
Article by UK Mortgage
There are a number of mortgage comparison sites on the Internet today and the trend seems to be growing. It’s big business for this kind of website as they try to consolidate all the mortgage deals from banks and building societies into one easy to use website, for a fee of course.
These websites then spend a lot of money marketing with TV advertising and search engine marketing to get many thousands of hits a week to their websites. The banks and building societies are very comfortable with this as it puts their latest mortgage offer in front of a very large audience that they could possibly have missed out on before.
Mortgage comparison sites not only benefit the banks and building societies but also the general public, people like you and me looking for the best mortgage deals on the market today. Everyone wins too, the banks, the building societies, the public and of course the mortgage comparison sites.
There are numerous mortgage comparison websites but we have just listed a few we found that are UK based;
moneysupermarket.com/mortgages/ moneyfacts.co.uk/compare/mortgages/best-sellers-mortgages/ fairinvestment.co.uk uSwitch.com/Mortgages totallymoney.com/mortgages/mortgage-comparison-sites.aspx totallymoney.com/mortgages/mortgage-comparison-sites.aspxmoneynet.co.uk/mortgages fool.co.uk/mortgages/beatthatquote.com/
A good mortgage calculator can be found here: godirect.co.uk/mortgage-repayment-calculator.php
None of these mortgage comparison websites have anything to do with us, they are just samples of what mortgage comparison sites are.
So what about getting a mortgage?
The problem with trying to get a mortgage these days is the amount of deposit you need, such as 25% or 30% being the norm. 1st time buyers have been hit really hard with this as its just not possible for a 1st time buyer to have such a deposit.
You used to be able to get a 95 percent mortgage easily but then you do have to remember that years ago almost everybody’s job was pretty much safe but the last few years has proved that this type of security is no longer there.
the building societies and banks have had to get really strict about who they lend money to after what has gone on recently, how much LTV (loan to value), and weigh up the individuals risk to protect themselves, especially now.
You can find plenty of mortgages on offer if you look around and they have some very low rates but the problem is, the people who really need to get one of these low cost mortgages is the first time buyer, but unless your middle aged with some equity already earned you are stuck.
About the Author
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