Residential mortgages for 2015

Which residential mortgage to choose for 2015?

With so many mortgages to choose from it is advisable to contact an independent expert, for help in deciding which mortgage best suits your circumstances.

An independent 'whole of market' broker such as Deal Direct is not restricted to any particular lender, therefore the advice offered is not restricted either.

By going direct when reviewing residential mortgages, you limit your access to all available deals. At Deal Direct we have access to all mortgages on offer. Whether you are remortgaging, a first-time buyer or self-employed we can find the right deal for you.

A good mortgage deal at a competitive rate could save you thousands of pounds over your mortgage term. However it would be a mistake to just consider the headline rate offered.

A number of factors influence the affordability of any mortgage offer. The headline rate, mortgage fees and incentives such as cash back, all need to be reviewed to work out which is actually the lowest cost mortgage overall.

Factor in all costs when working out mortgage affordability.

• Fees. Fees can add up, it is vital not to forget to factor in these costs. It is all too easy to be seduced by a headline rate only to find out that a lender's fee is high. For those looking for a large mortgage it can be worth paying a high fee for a very low rate. However for those looking for a smaller advance a high fee deal may prove less worthwhile. Be careful about adding any fees to your mortgage as you will end up paying interest on not just the capital owed but the fee as well. This will costs you a lot over your mortgage term.

• Rates. A lender's rate is crucial to the affordability of any offer. However check the headline rate in conjunction with other charges.

• Incentives - Cash back. Lenders offer incentives such as cash back or store card vouchers to sweeten their mortgage deals and entice customers. While incentives can be attractive they must be considered against the rate offered and fees charged. If the rate is not competitive then the cash back offer may not be worth it.

Consult a mortgage adviser to work out the overall costs.

When trying to work out which residential mortgage is most affordable contact one of our expert mortgage advisers. We can find you the right mortgage at the right rate.

Call an adviser today for advice and a low rate quote on 0800 048 8828.