Best buy mortgage deals – are they as good as rates suggest?
Best buy mortgage deals are the starting point for many would-be buyers and home-owners looking for a deal.
Lenders are known to compete for the best buy mortgage top slots, and the rates listed are ultra low. However the question is are these mortgages open to all, are they achievable and do they represent a good deal?
For many a review of the advertised ultra low best buys can lead to disappointment, many come to realise that the lowest rates are on offer for the largest deposits and to be accepted for a deal you need to pay a hefty fee.
In a lot of cases best buy mortgage rates are possible because lenders charge high fees, which can go as high as £2,000 for the very lowest rates. When ultra low best buy deals are reviewed the fees charged often make the deal far less affordable. It can pay to go for a higher rate with a lower fee.
While online mortgage comparisons and best buy mortgage tables are a useful tool, they do not tell the whole story.
Many lenders have mortgage exclusives which are never listed or advertised online. Products often at 'special' rates only available through certain broker channels.
If you are looking for a mortgage and are searching online but are coming up with nothing that suits your individual circumstances, you are advised to seek the help of an independent broker with access to all deals market-wide.
An independent 'whole of market' broker such as Deal Direct has access to all products on offer. Being independent and impartial means not being affiliated to any specific lenders, which means we do not act on behalf of the lender.
Deal Direct search the market on your behalf to come up with a deal tailored specifically to your needs.
Perhaps your circumstances are a bit more complicated and require a lender who will took at your case on a individual basis. We have access to lenders who review applications case by case, lenders who do not just rely on just ticking boxes.
Whatever your mortgage needs Deal Direct can undertake a personalised mortgage search on your behalf. We make your home-ownership our priority.
For an competitive mortgage offer,
call an adviser on 0800 048 8828.
