Would you recommend a tracker mortgage? - tracker mortgage comparison
I was a mortgage tracker Weith but not sure is good for me, this type of mortgage may be at greater risk than others
Friday, January 15, 2010
Tracker Mortgage Comparison Would You Recommend A Tracker Mortgage?
4 comments:
a tracker is always a greater risk by allowing the starting point (or LIBOR) rate of the Bank - for many - the Bank of England sets an interest rate and LIBOR is the rate that the bank is established.
his pursuer is up or down, depending on what rate.
not only increases the interest rate - and they are predicting more - I tend to choose a fixed interest rate - for at least two years long - you can pay a very small amount more - but you know, change its wrong.
have a tracker, you should know that you can pay your mortgage on the rise - as if only a small percentage of claims in capital, which might be ok, but if you firmly on cash i wouldnt do it
Good Luck --
Helen xxx
Still advise to use a mortgage consultant, and propose that instead of a bank employee who is only information and allows you to make the decision. The difference is whether the statement is not correct, you can complain if you make the wrong decision, you can not
It is safer for the lenders standard rate variable.
The risk may be greater than a fixed rate, however.
Only you can decide if it depends only on you like this, if you do not mind knowing for a little more each month, but that is paying the same for a specified period, such a criticism.
Or if you do not be afraid to go and possibly down.
If you are offered a mortgage "Tracker" (or any other mortgage in this case) and still on the fence about him, so obviously they are not or have not provided sufficient information 'loan officer about your benefits, and more importantly, how it benefits you! This also demonstrates that not presented with options for loans. A good loan officer is present at least 3 side by side comparison of the loan and explain clearly the differences, so you can make an informed decision! A loan officer must be at least learn more about your current financial situation and future plans. For example, if your plan is to sell (or refinance a few years), a loan officer should give you 30-year fixed and adjustable deter loans!
A mortgage is the most important financial transaction you can make in your life! You will find that it takes a long time after payment is sealed ... No, your loan officer. So my advice is ... Whatever you decide to loan to ensure that it meets your needs! AndNo, I am a loan officer, mortgage planner, I am!
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