There are a huge number of different mortgage products and options to choose from for anyone looking to buy a new property or remortgage an existing one. This is likely to be a person’s largest financial outgoing for most of their lives. It is so important that the right choices are made to deliver your desired outcome.
An interesting article by Moneyfacts this week highlights how in, most instances, very little time is given and little research is undertaken to ensure the right choices are being made.
The Money Facts article quotes Jacqueline Dewey, managing director at Noodle, touching on the importance of making sure you get the best deal possible for your circumstances:
“The excitement of finding a house you’ve fallen in love with, combined with worries about being accepted for a mortgage, means it can be easy to rush a decision about a mortgage. But when we’re talking about thousands of pounds on the line it really does pay to do your research.” – Jacqueline Dewey, managing director at Noddle
The Moneyfacts article then opens up the subject of time taken with research even further:
“……research from Noddle shows that people spend more time searching for a holiday than picking a mortgage.
Indeed, according to their findings, consumers spend an average of five days on holiday research and six days on choosing the right car, but only 3.6 days on their mortgage – almost the same amount of time people spend on picking an outfit for a special occasion (2.9 days). Even more concerning, 26% said they pick the first available mortgage, which could be a costly mistake to make.”
Here at Clifford Davis Financial Planning we take the time and guess work out of getting the right mortgage deal for your circumstances. We will guide you through the application process and help you to access your credit file, if needed, to ensure your application is placed with the right lender. We are also able to put you in contact with other trusted professionals to help with the numerous steps in the home buying/refinancing process.
If you would like some more information about the other choices to be made when applying for a mortgage have a look at the mortgage section of our website or contact us to see how we can help.
