How We Choose The Best Deal

1. How the lender calculates interest - i.e. daily, monthly, annually - this can make a big difference to the amount you pay over the life of the mortgage.
2. The efficiency of the lender - how quickly they process applications, how well they respond to customer enquiries, etc.
3. The lender's standard variable rate - at the end of any initial fixed or discounted rate the mortgage will normally revert to the lenders SVR, so it is important to consider how this rate compares with other banks and building societies.
4. Whether the lender insist on you using their own buildings/contents insurance.
5. What, if any, are the redemption penalties on the mortgage.
6. What, if any, is the tie-in period.
7. Any arrangement fees that may be payable to the lender.
8. What mortgage term would best suit your own individual circumstances.
9. How much you can afford in repayments each month, both now and in the future.
10. Whether you are planning to move in the near future.
11. And last but very importantly, your own ideas as to what sort of mortgage most appeals to you.

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