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Often when you’ve your heart set on a house you simply want a mortgage to obtain it and don’t really care how, or from whom, you get it. But maybe you should put a little more thought into choosing a financial partner.
Why you might ask?
Well the reasons are multiple.
Firstly, the rates each lender charges can differ as can their loan offer. You might be able to get more money from one bank over another but equally the repayment rate could be different. The lower the rate, the less you will ultimately repay and in the short term that’s money in your pocket at the end of every month rather than the banks.
Banks also tend to have offers going to entice you in. These vary from time to time but could include cashback offers, payment of legal fees or much more. Again it’s important to weigh up if any of these are important to you and if short term benefits can ultimately cost more in the long run or not.
Sometimes it can pay to have a mortgage with the bank where you hold a current account, with discounted rates on offer but like all offers these can vary from time to time.
By visiting MyHome.ie’s mortgage centre at www.myhome.ie/mortgagesyou can get a brief overview of the mortgage rates on offer from the main lenders as well as any current offers they might have. You can also lodge an enquiry with them from there. Don’t be afraid to ask questions and make sure you’re comfortable with who you’re dealing with.
It can be a long process getting a mortgage but choosing the right financial partner for you can ease a lot of the problems before, during and after the drawdown.
#guideyouhome
