Mortgage checklist

By Nelson Smith

When apply for a home mortgage be sure to consider each of the following options for your mortgage checklist.


1 Be clear on the type of mortgage vehical.Do you want to pay the loan quickly or do you want to keep monthly payment low.This is where you might want to consider a interest only mortgage or a varible rate mortgage is were you pay over a period of time.Interest only mortgage you only pay back interest on the loan borrowed.Make sure you shop around for the best deal.There are loads of comparison site's on the internet for loans and mortgage's.

2 Next big one to consider is your solicitor ask about fee's and get general feedback from previous customer's.Don't just jump in on the first quote but don't just go for the cheapest either sometimes it doesn't pay.


3 You will need to consider the type of survey,s there are a full survey and a bank will also do a basic survey on the property you intend to buy l must make you aware this is only a basic survey.This will depend on your budget and the value of the property you are considering buying.I would alway's recommend you have a full survey from my own experiance with property,s but at the end of the day you make the choose to suit your own pocket.


4 The last one is to make sure you have a good insurance policy for your property and possestion's.You can go to comparison site's to compare different deals that are on the table.Make sure you work out your true value of your possestion's most people don't invest enough time in this area.When they go to claim they find they have underestimated the value of the rebuild and content's of the property.



5 Last thing make sure you have at least enough money to cover your first month's mortgage and fee's very important.Most people forget to plan these things and get themselfs into debt l hope this mortgage checklist has been a help.