If you’re thinking of buying your first home, you’ll be no doubt thinking about where to go for your first mortgage. It’s not a decision to take lightly; a mortgage is a long-term financial commitment and there are many things to consider before you step on the first rung of the property ladder. It pays to do your research and assess your financial situation before deciding on a deal, as the wrong choice could end up costing you thousands of pounds or worse, your new home.

There’s no denying that, in today’s shattered economy, actually finding and being accepted for a mortgage is difficult, but knowing what lenders look for and the types of mortgages available will stand you in good stead.

It stands to reason that if you’re planning on buying a home you’ll already have a good idea of what you can afford to repay per month, and will have looked around your local area to see what the typical house prices are for the style of property you want. If you’ve settled on a house you would like to buy, the next step is to decide on what type of mortgage would suit your circumstances. Using online mortgage calculators are a good idea to use as they will give you an idea of the options available to you. Read more »