What To Ask At A Mortgage Meeting
| Money : Mortgages At some stage we all have to bite the bullet and get a house. Either that or continue pouring money down the drain in the shape of rent to someone else - they get richer, and we go nowhere. But the mortgage market is confusing at best and frightening at worst. With so much at stake you want to make sure that you get the right questions asked in order to find out information to help you decide whether a certain mortgage is right for you or not. So, here are some questions that you might like to ask: - What type of mortgage? For instance repayment or interest only, or offset mortgage perhaps - How long does the initial interest rate last for? - What does the interest rate move to after the set period? - Is it a fixed or variable interest rate mortgage? - What happens if you overpay? Can you overpay? Are you penalised for overpaying? - What do you do if you cannot meet a particular payment? What are the penalties if this occurs. These are the sorts of questions you need to explore if you want to be sure of getting the best deal for you.
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