subject: Using Mortgage Comparison Sites to find a Mortgage [print this page] Using Mortgage Comparison Sites to find a Mortgage
There are a number of mortgage comparison sites on the Internet today and the trend seems to be growing. It's big business for this kind of website as they try to consolidate all the mortgage deals from banks and building societies into one easy to use website, for a fee of course.
These sites then spend a lot of money marketing with TV advertising and search engine marketing to get many thousands of hits a week to their sites. The banks and building societies are very comfortable with this as it puts their latest mortgage deals in front of a very large audience that they could possibly have missed out on previously.
Its not only building societies and the banks that benefit from these types of website but also the general public, people like you and me looking for the best mortgage deals on the market today. And dont forget with these websites, everyone is a winner, and not just the banks and building societies, we all win.
These sites can be found from many countries around the World but as we are based in the UK we can at least offer a few useful sites that we have found;
A good calculator for mortgages can be found at this site: godirect.co.uk/mortgage-repayment-calculator.php
None of these mortgage comparison websites have anything to do with us, they are just samples of what mortgage comparison sites are.
So what about getting a mortgage?
The problem with trying to get a mortgage these days is the amount of deposit you need, such as 25% or 30% being the norm. Who has that sort of money kicking around in today's economic climate, especially the first time buyers, they really do not have a chance at all do they.
You used to be able to get a 95 percent mortgage easily but then you do have to remember that years ago almost everybody's job was pretty much safe but the last few years has proved that this type of security is no longer there.
the building societies and banks have had to get really strict about who they lend money to after what has gone on recently, how much LTV (loan to value), and weigh up the individuals risk to protect themselves, especially now.
You can find plenty of mortgages on offer if you look around and they have some very low rates but the problem is, the people who really need to get one of these low cost mortgages is the first time buyer, but unless your middle aged with some equity already earned you are stuck.
