Professional Realtors in Cumbernauld

Tips for Getting a Good Mortgage Deal In this three-minute read, we look at how homebuyers in Scotland can get a good mortgage deal. For most people, a mortgage is the biggest loan they’ll take out in their lifetime so, understandably, they want to land the best deal. But with hundreds of mortgage products on the market, it’s easy for homebuyers to feel overwhelmed or confused. There’s a lot to consider, including: Interest rates (they’re currently low – but won’t be forever). The term (most mortgages last 25 years, but some can stretch to 40 years). Whether to go fixed (where the interest rate is set for a certain number of years) or variable. Mortgage fees. Lenders can charge valuation, arrangement, early repayment, or missed payment fees. Now, you won’t necessarily be hit up for all of these fees – each deal is different – but it’s important to know what you’ll be charged. An interest-only mortgage (you pay back the interest, not the capital) versus a repayment mortgage. Click below to read the full article.