Choosing the best mortgage for your own personal situation can be incredibly difficult because of the sheer number of different mortgage products on offer
Mortgage Comparisons - Compare Mortgages
Choosing the best mortgage for your own personal situation can be incredibly difficult because of the sheer number of different mortgage products on offer from so many different financial institutions.
An increasing number of financial companies are appearing online and many of them provide interactive comparison tables for mortgages and other financial products.
How Do Comparison Tables Work
All mortgage comparison tables contain broadly similar information, but the way that the details are selected and presented to the user varies slightly between different web sites and mortgage calculator.
Some comparison tables allow you to enter selection criteria such as mortgage type or amount to be borrowed in order to narrow down the search.
A typical mortgage comparison table might contain the following information for each mortgage being compared:
lender's name, e.g. West Bromwich Building Society;
product name, e.g. Easy Mover;
mortgage type, e.g. fixed, interest only;
initial initial interest rate, e.g. 2.95 percent;
initial term, e.g. 2 years;
subsequent interest rate, e.g. 6.74 percent;
overall annual percentage rate (APR), e.g. 6.4 percent;
loan to value (LTV) ratio (i.e. maximum percentage of property value that can be borrowed), e.g. 95 percent;
tie in, e.g. 4 years;
how to apply, e.g. link to a web inquiry form to provide more details.
Narrowing down your choice of mortgage so that you finish up with the best deal is never easy, but mortgage comparison tables allow you to make that initial sift very rapidly;
once you have drawn up a shortlist of mortgage possibilities, you still need to look at all the details very carefully before making your final decision.