With more than 6,000 different mortgages on offer from around 130 lenders you could be forgiven for giving up and just accepting the first offer you get.
But it pays to research when taking out a mortgage and that basic advice applies whether you are a first-time buyer starting out on the property ladder or whether you already have a mortgage and are looking for a new deal.
On a 100,000 mortgage you can save up to 1,300 a year by picking the best-value mortgage compared with the most expensive. That’s a handy 108 a month in your pocket.
However it’s not the case that all deals are open to all customers.
Nationwide Building Society has recently ended its long-standing policy of offering the same deals to all customers. Previously it didn’t matter whether you were a first-time buyer, an existing customer looking for a lower rate or someone looking to move your mortgage to Nationwide. So what does this mean for you?
All customers are not the same so all deals are not the same
Mortgage companies will offer you different deals depending on what sort of customer you are. The basic rule is that they like new business as that...
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