Mortgage Guide

Mortgage Comparison

Mortgage comparision is pretty complicated and it can be difficult to compare one mortgage with another. That is why it is essential to be as thorough as possible when working out the best mortgage option for you.

The main differences between all the UK mortgages available are the basis on which you are being offered the mortgage, the terms under which you pay the mortgage back and then the costs of having the mortgage. The main cost of having the mortgage is the interest which is being charged. This might be fixed or it might vary with the prevailing interest rate. Other costs might be early redemption fees, administration fees and Higher Lending Charges.  These variables are usually presented in a mortgage comparison table.

There are very many variables, which is why  a first time buyer mortgage advisor is really essential for mortgage advice. It saves time, money  and mistakes in the long run.

First time buyer Mortgage advisors are constantly updated with new features, new mortgages, changes in lending rates and have an overview of the whole mortgage offering. Mortgage comparison is also quite a technical field and of course professionals are trained to interpret mortgage comparison tables correctly. Mortgage advisors and brokers are also able to carry out a mortgage lender comparison, not just based on published information but through experience.

At FirstRungNow we have compiled a mortgage comparison table of different ways lenders appraise the basis on which they will lend to first time home buyers. The mortgage lenders have become quite innovative to attract first time buyer custom and this can be seen in our own unique Best First Mortgage Comparison Table. This table allows best first mortgage comparison.

Mortgage Advisors, who are trained and qualified to use UK mortgage comparison tables may charge for their services but their advice will stand any borrower in good stead, assuring that the advice they give will be professional and up-to-date. As new first time buyer mortgages come onto the market it's essential that new mortgage comparison is carried out. 

The last few years have seen the birth of online mortgage comparison and there are many mortgage comparison websites. This will suit many people but we still believe the advice of a first tme buyer mortgage advisor or broker is of enormous value. It is good to start a strong relationship with a mortgage advisor as in time you will want to remortage and they will help you get the best mortgage at that point too. Contact a mortgage advisor to request no-commitment best first mortgage comparison advice.

ACTION: Request no-commitment, independent,  first time buyer mortgage advice

Features, advantages and disavantages of specific first time buyer mortgages:

100% Mortgages l Cashback Mortgages l High LTV Mortgages l Graduate Mortgages l Professional Mortgages l Mortgages with Parents l Guarantor Mortgages l Family Offset Mortgages l Mortgages with Friends or Family l Mortgages at University l Rent a Room Mortgages l Affordable Mortgages l Interest only Mortgages l Part Repayment Part Interest Mortgages l Interest-free Start Mortgages l Shared Ownership Mortgages l Poor, Adverse or Poor Credit Mortgages l Key Worker Mortgages l Shared Equity Mortgages  30, 35, 40 year mortgages

Other mortgage guides, advice and useful pages: 

First Time Buyer Mortgages - About First Time Buyer Mortgage Advice - First Time Buyer Mortgage Brokers - Buy to Let Mortgages for First Time Buyers - Remortgages for First Time Buyers - Shared Ownership Mortgages - Help with Mortgages for First Time Buyers - Mortgages for Parents of First Time Buyers - Shared Appreciation Mortgages - Shared Equity Mortgages -Joint Mortgages - Financial Advice for First Time Buyers - Overseas Mortgages for First Time Buyers - Request First Time Buyer Mortgage Advice - Find your First Property - New-Build Gifted Deposit Deals - Best First Mortgages Comparison Table

Useful websites:

www.cml.org.uk – council of mortgage lenders.

If you're looking for a short cut to your first home, we recommend you look closely at the following three options.
 
1   Consult a first time buyer mortgage advisor to see if you can afford it on your own.

2   See if there are any gifted deposit  new-build bargains in your area

If you still can't afford what you want,  maybe you can speak to your parents about how they can help and revisit the same options with their input taken into consideration.