Welcome to our first weekly blog that we hope will be helpful and informative in relation to your money matters in Gorey and the southeast of Ireland, we would like you to know that we are always available for a friendly no fuss chat. We can advice you in a common sense impartial manner as we deal with many companies, and can get you the best deal.
This week our blog centers around mortgages, and quite simply what taking out a mortgage entails, why you would need one and the benefits. We can offer a full mortgage advice service, just call our Gorey office for more information.
A mortgage is a long term loan that an individual or individuals can take out with a financial institution, if they wish to buy a home or property. The house/building is security for the loan so the main thing to remember when you are thinking of taking out this type of loan is that you must keep up your payments or you may be in danger or losing the property.
Another useful thing to know is that this type of loan is carefully regulated for protection for all involved, both the borrower and the lending institution. It is very important that you think carefully about the payments to ensure they are affordable, and mortgage protection is essential, as sometimes life circumstances can change and it is reassuring to know your home will be protected in the event of something unexpected.
It is a good idea to get some practical financial advice before you make any life changing decisions before taking out a loan for a home. We have an entire mortgage section on our website here
A mortgage loan is a serious commitment that will carry on over many years if not decades. We can help with your research and think of some pertinent questions such as :
- How does the interest rate compare between financial institutions? This is commonly referred to as the APR
- We can help you to understand the lender’s policy and if they have any history of interest rates fluctuating. as when interest rates change this can really affect your entire mortgage cost.
- We can help you use a mortgage calculator and other online tools such as budgeting tools
- What payments can you afford and can you keep up the monthly payments even your circumstances change
- Should I accept an introductory offer and when this is over will I still be ok with my payments?
- What insurance do I need to take out and who are the best mortgage insurance companies?
We have many helpful calculators that you can use here and you can use our step by step guide here
We advise that you seek professional advice as the information given is for guideline only and does not take into account your personal circumstances.