What is a 100% shared ownership mortgage ? Page 2

Having found the shared ownership house of your dreams a good whole of market mortgage broker

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Can Life Insurance be arranged quickly?: It is dependent upon two factors: - Click here to find out more details
What is Life Insurance?: Life Insurance (with terminal cover included) is a form of insurance that pays out a lump sum if you die or fall terminally ill during the period covered by the policy.
What is the difference between a Guaranteed and Reviewable life insurance policy?: With a “Guaranteed” policy the Life Company guarantees that it will never increase the premium.....
Complaints about a Life Insurance Adviser: All the Life Insurance Adviser aqre now regulated by the Financial Services Authority.

should then be employed to find the best and cheapest mortgage. Careful searches can reveal 100% shared ownership mortgages that will not require a deposit, even if you have an adverse credit history.
Finding the right mortgage is a very important financial decision in life as it is more often than not the largest single expenditure in people's lives! People will often search the supermarkets shelves for bargains choosing products for the sake of a 1p or 2p saving per item and there's nothing wrong with that; I do it all the time.

Our parents teach us to be frugal with money in our up bringing and we sometimes become animals of habit throughout our lives. Through the generations, inflation has seen prices increase ten fold and who would have thought years ago that the price of a loaf would touch the £1 figure.

The same can be said about UK property, as the housing market has exploded and the average mortgage has gone way above the £100,000 figure. This is before we align our currency and interest rate with the euro. Ireland has seen a massive explosion in property prices in the post years of joining the euro and it is now an extremely expensive place to buy property.

Consider this as a normal mathematical comparison. A 2% saving on a £100,000 mortgage works out at £2,000 per year and assuming that this saving can be made every year by remortgaging and moving the mortgage to another lender, it equates to an astronomical £50,000 saving over the normal mortgage term of 25 years. It just doesn't make sense to be putting an extra £40 per week into a lenders pockets when they already make billions of £££'s net profit per year.

Most of us have all experienced hard times at some stage in our lives and received letters from banks telling us that they are going to charge us £27 for bouncing a cheque or non payment of a direct debit or standing order. Now is the time to hit back and take some of that money back from them by taking advantage of the discounts that they have to offer to borrowers.

So, if there is massive saving around like that, why don't people look at remortgages more often?

Surveys conducted by lenders have identified that some people are just not aware, whilst others have said that they just could not be bothered. Some people have stated that the mortgage market is just too complicated.

Well, the range of UK mortgages has increased dramatically over the past few years. Although this increase in mortgage types has added complexity, it has also introduced fierce competition, which has in turn resulted in the availability of some very attractive mortgage products for the customer. With over 10,000 mortgage products to choose from, how do we ensure that we get the best mortgage and remortgage rates?

Employing the services of a whole of market mortgage broker (the equivalent of a supermarket) can pay dividends here, as they have sophisticated computer software to narrow down the best rates for buying with friends, equity share mortgages, parent guarantee schemes and 100% shared ownership mortgages. They could also help you find a suitable life assurance policy at the same time, which will be a pre-requisite of many mortgage companies.