According to an 11 April 2008 article on yourmortgage.co.uk, ?the Council of Mortgage Lenders (CML) has warned lending will halve this year, compared to last, if the Bank of England does not step in to ease the UK credit crisis.? With the current financial situation?s potential dramatic effect on mortgages, it is necessary to obtain sound mortgage advice now more than ever.
And the most important piece of initial mortgage advice is to do your research. There are thousands of mortgage offers available through which to sort, and considering the number of variables involved, research is a must.
There are two main ways in which prospective home owners or those looking to remortgage can attain initial mortgage advice: by using an on-line service, like at SimplyFinance.co.uk, that canvasses the majority of institutions that offer mortgages or by using a person, a mortgage broker or adviser, who will do the same sort of analysis and research for you. It is important to get mortgage advice from a service or person not attached to any specific lender in order to get the most impartial information.
The mortgage advice you receive should include: the suggestion that you honestly evaluate your financial situation, a mortgage calculator to calculate your financial situation, consideration of your long-term plans, information on the different types of mortgages available and their potential effect on your current financial situation, and best buy highlights which are based on up-to-date information.Fill out our short mortgage form so that SimplyFinance.co.uk can match you with an experienced mortgage adviser from the SimplyFinance network.