Best Mortgage Rates - 320,000 Mortgage

First Choice Finance is a mortgage broker offering qualified mortgage advice helping you find the best deal when looking to borrow £320,000

How To Qualify For The Best Rate For Your Mortgage & Refinance Applications
We hear every day how important it is to own your own home. What we don`t hear is how to make sure we get the best rate possible and save our selves thousands and thousands of pounds over the term of our mortgage. Not everyone is blessed with the best credit and a huge down payment. So, how can you get the best deal on your mortgage or remortgage?

1) Find out your credit score on all relevant credit bureaus. The better educated you are, the easier it will be for the mortgage adviser to find a plan that meets your needs and circumstance. If you do have some issues, clean them up first if possible, discuss them with your adviser who may be able to help you get some dings off your credit and this could save you a lot.

2) Get all your documentation together. This may sound trivial, but you wouldn`t believe the number of people that don`t do this well, and pay steeply with higher rates and points as a result. You should, as a habit, keep a file of your tax returns, assets (bank account statements, mortgage payment receipts - if you have a current mortgage), business license (if you are self employed), etc... The better you can document your income, assets, and employment, the higher your chances are for getting lowest interest rates.

3) Do not lie - be upfront about what you can and cannot document. Don`t waste the mortgage advisors time and yours with assets or income that you cannot document. If you lie, they will catch you when they examine your mortgage prior to funding and you won`t be able to close.

Each mortgage type has advantages and disadvantages but with the help of a mortgage adviser you can see which one gives you the best option for financing your home. Although there are various types of mortgage calculators available, for initial comparison purposes it`s best to use the same one and discuss the options with a qualified mortgage advisor to fully understand the options.

You should check out fixed and adjustable rates before you buy. When thinking about which mortgage is best for you, check the figures through to see which best suits your circumstances.

Depending on how long you plan to be in the house and other variables, you may want an adjustable rate.

It doesn`t cost anything to use our mortgage calculators so play around with the figures until you find something that works for you –- not just the lender!

Check your calculations twice before signing the papers. There are literally dozens of options to consider when deciding the type of mortgage that offers the best deal for your financial needs. You need help to compare different interest rates, payment options and home loan lengths before applying for any particular loan.

A mortgage calculator is an invaluable tool when you are getting financing for your home.

You may also need to consider whether to use a mortgage calculator or an amortization table, or both.

Both a mortgage calculator and an amortization table can be used to find out the monthly payment required on the property you would like to buy, but they approach the calculation differently.

Although they have similar functions, the mortgage calculator and the amortization table each have their own place in your mortgage control system.

Mortgage calculators range from ones that calculate a simple loan, to those that can work out exactly how much you can afford, to those that will determine how much you can borrow for a home loan depending on your current situation. Mortgage calculators are a good way for you to get a general idea of what you need.

An amortization table, on the other hand, is an extensive spreadsheet of every detail of each type of loan, length of loan, interest rate, and many other factors that can confuse a novice.

A mortgage calculator may not give you as much information as an amortization table, but it may present basic information clearer and quicker. Once you have a good idea what you want in a loan, then an amortization table can help you delve deeper into the long-term ramifications of the loan.

They can be used separately, but their strength lies in a combination of both to enable a closer watch of the financial picture of your mortgage.

Mortgages & Remortgages 8.4% APRC. Representative Example: Borrow £120,000 over 25 years at 5.99%, £778.86 pcm fixed for 3 years at 60% LTV. Then at 8.75%, £974.86 pcm, variable for 22 years. Total payable £286,416. Total cost of credit £166,416 (including: £985 broker fee, £999 lender fee & £164,432 interest)

Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk

Established In 1988. Company Registration Number 2316399. Authorised & Regulated By The Financial Conduct Authority (FCA). Firm Reference Number 302981. Mortgages & Homeowner Secured Loans Are Secured On Your Home. We Advice Upon & Arrange Mortgages & Loans. We Are Not A Lender.

First Choice Finance is a trading style of First Choice Funding Limited of 54, Wybersley Road, High Lane, Stockport, SK6 8HB. Copyright protected.