GETTING A MORTGAGE


Comparing Deals


The range of deals on offer - variable, capped, discount and fixed rates, One accounts can be confusing at first. The first thing to look at is the interest rate on the mortgage. Obviously, the lower the rate, the less you pay. But be warned: deals that scream a very low initial interest rate may in fact lock you in to a much higher rate later on, or might force you to pay heavy penalties for switching to a better scheme. Or they may demand you pay for costly insurance policies.

The best deals offer a good interest rate, the freedom to move to a different mortgage or different lender when you want, and low set-up costs.