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Wednesday, May 17, 2006

Shopping for Mortgages - help!

So I want/need to switch mortgage lenders for a number of reasons, trouble is I'd rather chew my arm off than shop around for mortgage deals! Working out the various interest rates, charges for switching/administration, terms of mortgages etc. must surely be one of the most tortuous processes ever invented!

If you have any tips on how to ease that process please, please, please let me know. Know of any good websites that compare / contrast / work the whole thing out for you - again please let me know. It's not that I'm thick or won't eventually work out the best value / deal for me, it's just that the whole interest rate thing bores me senseless so all suggestions gratefully received.

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9 comments:

Julie Midas said...

Sorry, I'm absolutely no help whatsoever but we're going to be in the same situation soon. We want to extend and will need to re-mortgage in order to finance the work.

I love the pic. Pretty much sums up how I feel about it all too!

Curly K said...

Well Julie, if any sage advice comes my way I shall share it with you. The pic reminds me of Munch's Scream - quite appropriate!

winds said...

Possible place to start:

askaboutmoney.com, select mortgages and homebuys or whatever it's called, and look for the best buys thread - I think. There should be a comparison there as far as I remember.

Toodlepip.

TheCatGirlSpeaks said...

I did this last year and really sympathise. Very boring and dull!

I'm not sure I went about it in the best possible way, but my system was this: I asked my (then) current lender what the best deal they could possibly give me was, and then called around other lenders asking them if they could better it.

Of course, they could, which then meant I could go back to my current lender and as they were desperate to keep me, dropped again. I took this new quote to my preferred new lender, and lo and behold, they found me an even better deal.

I think it helped that my new mortgage is actually with my bank, but they bent over backwards to help me.

Very interesting to see how much the property prices have risen since buying too!

I guess another option is to go to an independent financial advisor.

Omaniblog said...

Like Julie, I love your photo. Where did you get it? And how did you put it up on your blog?

What a fine question you ask! I'll be back for - hopefully- even more answers because I'm in the market for a mortgage. (How much Spam will this post generate?)

Curly K said...

Winds; thanks for the tip, will log on when I get a chance.
CatGirl; sounds like as good a way to go as any but I can't get a re-mortgage with my current lender so I'll have to go with the first offer and take it from there.
Omani: hope this generates some good advice and not spam. Also heard about www.ifg.ie or com on the radio this evening - apparently deals with 12 of the major lenders!
Re uploading photo, it's very easy on blogger. Not sure if you use it. Most important thing is to right click on photo you like and open the properties, the html link address will be listed there to copy. Using blogger I just hit the photo button and paste in the target url

Anonymous said...

sorry to be a bore, but aside from de odd quick shag,an impregnation (or four!!!) i've found de best "tool" for mortgage shopping to be de Hubby!!!!:-) (am terribly evil & smug but could't resist!!) anyway de downside of this method are de hypochondriac tendencies & toe-nail habits that one must endure!!!

Curly K said...

ANON; when are you going to out yourself with a proper 'handle' Miss; such as "Yummy Mummy" or "Ginger Lover" or "Lost Down South" etc. ;-)

Omaniblog said...

Curly K,
Thank you v much for that advice. I don't use "blogger", at least I don't think I do. But I'll try your suggestion and you'll see if it makes a difference.