| FREE: TigerTom's Unique UK Mortgages eBook |
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- Find out how to get the best deal;
- Improve your credit-rating;
- Do's and don'ts of making an application;
- Simple to use;
- Easy to understand;
- Loans AND UK mortgages covered;
- No special software needed;
- Windows 95/98/Me/XP;
- Free!
Click HERE to get it.
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Free Tips eBook | 
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=> FREE: TigerTom's '50 Loan & Mortgage Tips' ebook. It's a simple list of tips to be aware of when getting a loan, including how to improve your credit rating.
=> FREE: Use TigerTom's Loan and UK Mortgages Calculator. This shows you what your monthly payments will be, and allows you to adjust the amount, rate and time period, until you find what you can afford.
Are you applying for UK mortgages? Complete the simple form, and get both softwares free. There is no charge or obligation.
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Shop around. Get quotes from 4 lenders. You may be able to save yourself thousands of pounds by avoiding UK mortgages with high rates and/or high fees. A 0.5% lower rate on a £100,000 loan for 5 years will save you over £1,300 in payments. Try your local bank or credit union, mortgage brokers and internet resources. Don't choose lenders just because they have the lowest rate. Consider the overall cost of your loan.
A mortgage or loan varies according to:
The amount borrowed;
The interest rate;
The type of rate (fixed or variable);
The term (length in years) of the loan;
Discount rate for X number of years;
Deposit (downpayment);
Associated fees (broker, origination, prepayment etc.);
Local or national taxes;
Insurance required by the lender.
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Consider the following advice from the U.S. Department of Housing and Urban Development when applying for a loan:
- Be sure to read and understand everything before you sign.
- Refuse to sign any blank documents.
- Do not buy property for someone else.
- Do not overstate your income.
- Do not overstate how long you have been employed.
- Do not overstate your assets.
- Accurately report your debts.
- Do not change your income tax returns for any reason.
- Tell the whole truth about gifts.
- Do not list fake co-borrowers on your loan application.
- Be truthful about your credit problems, past and present.
- Be honest about your intention to occupy the house.
- Do not provide false supporting documents.
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Get a written (emailed of faxed) Good-Faith Estimate. Allow for a reasonable time; 1-2 hours. If they can't do that you may want to question using them. The market can change in minutes. Get a written good-faith estimate of closing costs. A Good-Faith Estimate should show you all of the costs of your loan, including the rate. The cost of a UK mortgages, however, cannot be your only criterion. Is your lender a bank or just a broker? Do they fund the loan for you, or do they rely on others to fund your closing? This can be a very important distinction.
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Do a budget. Make sure you use realistic figures. Keep all of your receipts, or keep a record, for all of the money that you spend for a month. Use that to help you compile the first draft.
Be prepared to review and update it regularly. A coordinated budget allows you to get the most home for your money without beggaring yourself, while getting rid of wasteful spending.
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When interest rates fall: Try and leave your repayments the same as prior to the rate drop. This means you will actually be paying more than the minimum each month. You'll repay your UK mortgages years sooner.
The more rates fall, the sooner you will repay your loan. You will have been paying at the higher rate, so if rates rise again later you may not have to change your repayment.
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Don' t churn your UK mortgages loan. Each time you refinance you'll likely incur closing costs and non-refundable fees. Don't let a lender talk you into rewriting your mortgage just to get a little cash back.
Many people find that they have added £6,500 or more to their debt in order to obtain £3,500 in cash. An example of this is second mortgage loans.
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| TigerTom's Loan and Mortgage Calculator UK |
 |
- Easy to use;
- Handy size;
- Loans AND UK mortgages calculated;
- No installation required;
- Windows 95/98/Me/XP;
- Make your own amortization tables;
- Save and print your tables;
- Use Dollar, Pound or Euro symbols.
- Free!
Click HERE to get it.
|
ONLINE UK Mortgages calculator
