Home Buyers Guide

Chapter 6: Choosing the Right Mortgage

How to pick the best mortgage

A home buyer’s conversation with a mortgage broker usually starts with the following question:

”Which Lender offers the best mortgage?”

The answer they get (or at least the answer they should get) begins with

“It depends….”

• It depends because different lenders target different types of customer, so a bank that is great for high earning
property investors may not be good for someone trying to get on the property ladder.

• It depends on whether you have a big deposit or the bare minimum.

• It depends on how much flexibility you need in a mortgage.

• It will depend on how long you are planning on living in your new home.

• And it will depend on who will offer you a mortgage in the first place.

• It depends on a lot of things!!!

Put simply, a mortgage which may be great for me, may not be right for you.

So the question really should be:

”Where can I get the mortgage that will suit me best?”

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