Mortgages

A mortgage is, in essence, debt and you need to understand the cost of borrowing large sums of money and give consideration to the best way of repaying your debt.

You should also take advice on which type of mortgage is suitable for your needs as there are many options to consider.

An easy rule of thumb is the quicker you repay your debt the less it will cost you in interest. You may be surprised at the effect small overpayments can make to the total cost of your mortgage or reducing the term over which you borrow money.

One of the biggest considerations when committing to a mortgage is how you will service this debt (ie repay it every month). You need to understand your tolerance to interest rate movements as well.