Saving up for your dream home can be a costly and stressful time. Most of us will be looking into ways of lending to obtain our dream homes. For me, I don’t know the first thing about mortgages and it’s easy to feel confused and daunted by the whole situation. Habito, the UK’s only digital online mortgage broker, has compiled 4 of their best tips to help you when looking for a mortgage.
Brokers – There are some 1000’s of mortgage products out there and so many lenders, you need help to navigate the market. A mortgage broker can help you navigate the market and find the best deal for you. Brokers make money from the lender when an application is complete, so there is no need to charge you to help you. Some do charge but have a look around online for the best advice.
Digital – It’s 2016, and the mortgage industry is screaming out for some innovation. Anyone looking for a mortgage should be able to sort out their mortgage with an online mortgage broker. No need for payments, fax machines, massive forms or meetings. This can actually help many couples and families out, who don’t have time to go into a branch and be quizzed for hours on end. Habito is one of the few if not the only online mortgage brokers in the world, using technology to automate the process of acquiring this type of financing. For a seamless process, they come highly recommended and have been referred to as a miracle broker – read this review to hear what one family had to say earlier this month.
Online Calculators – Be careful of relying on online calculators when working out your affordability to borrow. They do not give a realistic breakdown and can mislead you into thinking you can afford more. Basically, until you talk to a broker and get some in depth affordability details clear, any online mortgage calculator output is not that useful.
Comparison Sites – These websites have a huge presence, but their mortgage offerings do not reflect the entire market. You may be missing out on a good deal because they website doesn’t display it high enough. The mortgage market moves daily, so it’s important to keep up with the best deal.
Arm yourself with these 4 tips when you head out to find a suitable mortgage, or better yet, just hop over to Habito– they do after all exist to make mortgages as easy as possible
This post was written in association with Habito.