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Compare let to buy mortgage
Shopping around to compare let to buy mortgages is part of the fun of owning property but it can be a bit of a nightmare as well. It is always advisable to go into the market place prepared, to avoid the risk of blundering into a deal that looks attractive but will leave you at a disadvantage in the long run.
Nowadays many people's chosen method of research will be the internet: all the big lenders, and most of the specialists, have some kind of presence on the internet and by using the loan calculators and repayment calculators found on most sites it is possible to find out how much a given mortgage provider may be prepared to lend you and roughly what your repayments will be under a range of mortgage types.
My personal knowledge of the internet tells me that the lenders they offer you on most of the comparable sites are the ones that pay a commission when people click on the link .... so you may not always get a true picture.
However, although a comparison of repayment rates can be illuminating, it doesn't necessarily show you the whole picture. For that you will almost certainly need to study the small print. For example, Company A and Company B offer two-year fixed-rate mortgages for which the repayments are identical. But Company A locks you into the mortgage by charging a substantial early repayment fee if you keep your account for less than three years; Company B will only charge you a fee if you settle during the two-year fixed rate period. With Company A, your potential to benefit from other special deals that may arise is seriously limited.
It is only by carefully examining the terms of each deal that you can get an accurate idea of how closely it matches your needs. Without this added insight any comparison of the different mortgages on offer is little better than a shot in the dark.
If you want someone with experience to help you out, look no further than here - these guys know the market inside out and are packagers too, which means they put the whole lot together before it goes to the lender - so you have less chance of being turned down.
