How to Get a Better Deal on Your Mortgage

Saturday, May 11, 2013, 1:00 AM | 8 Comments

Housing values are expected to become sluggish in the coming months, with investment analysts predicting a reduction in the growth of bonds by between two and four percent. On a happier note, interest rates are being pushed down, giving investors the chance to inject their investment efforts into property – an asset that forms a crucial foundation for a stable portfolio.

Profitability is remarkably responsive to the terms attached to financing. There are many tactics that help cast borrowers into a more positive light in lenders’ eyes.

Some strategies improve financial histories after years of effortful change, while others can almost instantly bring better mortgage terms.

  1. Improving Credit Scores

    Mortgage lenders’ main concerns lie in assessing how profitable potential debtors are. Credit reports can be honed over the short and long term and are the first step towards securing better terms and reduced mortgage rates.

    Fact checking and electoral roll registration are effortless ways to improve this core monetary record. Errors in employment records or tenancy can play havoc with an otherwise glowing rating.

    Over the long term, debt consolidation can push scores down to more attractive lows if it is done tactically.

    Consolidating debt beneath accounts held with reputable vendors for over two years will improve your rank.

    It is only possible to keep a credit report alive by actively borrowing. It is unnecessary to continuously keep yourself weighed down by heavy debt, but maintaining a small amount of credit keeps your score in the green.

    The most profitable way to use credit to build a better rank is through mortgages, because borrowing for the sake of an asset that will produce returns is excellent financial practice.

  2. Comparing Mortgage Lenders

    Few people buy major assets without comparing products. Choosing a mortgage should be no different. The variety of mortgage types has widened over recent years, making comparisons more complex.

    Fixed and adjustable rate mortgages are simplest to compare by using a mortgage calculator to map out the entire repayment amount according to terms, deposit and monthly repayment amounts.

    Hidden costs should be factored into these projections. The only reliable way to compare mortgages from different lenders is by looking at their terms for the same products. It’s pointless to compare one bank’s fixed rate bond against another’s adjustable rates.

  3. Anticipate the Future

    The risks involved in tracker rates need to be considered. A sturdy economy that is expected to stay at its peak during the mortgage term makes tracker rates easier to stomach.

    When the housing market is difficult to predict, fixed rates offer a level of financial security that is worth paying for. In the long run, if interest rates skyrocket, that costlier fixed rate mortgage may bring significant savings.

  4. Raise Your Deposit

    Putting a higher deposit down initially is one of the most reliable ways to push total interest payments down. A bulkier deposit not only chops away at interest payments; it also hikes up your odds for being approved for a bond.

    The savings made on upfront payments are not directly apparent, since they are generally made over the long run through a shorter repayment term.

Author’s BIO

Sam Edwards is an investment analysis specialist who writes regularly about methods of finding reduced mortgage rates for greater returns potential.

Throw us a like at Facebook.com/doable.finance


  1. 8 Responses to “How to Get a Better Deal on Your Mortgage”

  2. By free stuff by mail on May 18, 2014, 7:34 am | Reply

    Hi there! I understand this is kind of off-topic however I needed to ask. Does building a well-established blog like yours take a massive amount work? I am completely new to operating a blog however I do write in my diary on a daily basis. I’d like to start a blog so I can share my own experience and feelings online. Please let me know if you have any suggestions or tips for brand new aspiring blog owners. Thank you!
    free stuff by mail recently posted…free stuff by mailMy Profile

  3. By Admin on May 18, 2014, 8:07 am | Reply

    http://doablefinance.com/how-to-create-a-blog-in-wordpress/

  4. By Anonymous on Aug 18, 2014, 9:25 pm | Reply

    Hello to all, how is the whole thing, I think every one is getting more from this site, and your views are fastidious designed for new people.
    recently posted…P?gina webMy Profile

  5. By http://www.planetims.Org on Aug 19, 2014, 9:16 am | Reply

    For most up-to-date news you have to pay a visit world-wide-web and on world-wide-web I found this website as a finest web page for hottest updates.
    http://www.planetims.Org recently posted…http://www.planetims.OrgMy Profile

  6. By interior house paint color schemes on Aug 19, 2014, 9:31 am | Reply

    Great post. I was checking constantly this blog and I’m impressed!
    Very useful info specially the last part 🙂 I care for such info a lot.
    I was seeking this certain info for a very long time. Thank you and good luck.
    interior house paint color schemes recently posted…interior house paint color schemesMy Profile

  7. By top long beach search engine optimization on Aug 20, 2014, 1:57 pm | Reply

    Hey there! I’ve been following your blog for some time now
    and finally got the bravery to go ahead and give you a shout outt frrom Atascocita Tx!
    Just wanted to say keep up the greaat job!
    top long beach search engine optimization recently posted…top long beach search engine optimizationMy Profile

  8. By modern inventions on Aug 21, 2014, 4:40 am | Reply

    continuously i used to read smaller posts that as well clear their motive,
    and that is also happening with this paragraph which I am reading now.
    modern inventions recently posted…modern inventionsMy Profile

  9. By International Mortgages on Jun 21, 2015, 11:05 am | Reply

    As of 2015 in the UK and in general EEC markets mortgage rates have plummeted due to competition and with an historic all time low of Bank of England base rate of 0.5%, to allow liquidity in deflationary market. In January last year the Funding for Lending Scheme ear marked for mortgage lending to small businesses to allow traction. Often American economy wags the tail of the UK mortgage and lending market, and it will be interesting to see how recovery pans out…

Post a Comment on Content of the Article

 

This is not a billboard for your advertisement. Make comments on the content else your comments would be deleted promptly.

CommentLuv badge