8 End of course round-up
A lot of detail has been covered in this course. The information and skills provided will help you make good decisions when selecting and managing you mortgage.
To sum things up, here are five key tips:
- Always search for the best deal.
- Keep your eye on the market and monitor how mortgage rates are moving.
- Be prepared to remortgage – and not just once!
- Don’t end up with a Standard Variable Rate (SVR) product. Other variable rate products (trackers) are usually better. SVR products are the equivalent of energy companies’ standard tariffs!
- Don’t feel obliged to stay with the first mortgage provider just because they lend you a load of money for 25 years – it’s a commercial relationship, not a marriage!
The good news is that the trend over many decades has been rising house prices in both cash and real terms (see the graph above) – so your mortgage not only provides a home but also a sound investment too!
Well done, you have now completed the course! Now you’ve come to the end of the course, we would appreciate a few minutes of your time to complete this short.
To learn more about certain of the issues covered in this course you can follow these links to the MoneySavingExpert site:
- To learn more about credit scoring, follow: https://www.moneysavingexpert.com/ creditclub/
- To learn more about the early repayment of fixed rate mortgages, follow https://www.moneysavingexpert.com/ mortgages/ fixed-mortgage-calculator/
- To learn more about Stamp Duty Land Tax costs, follow: https://www.moneysavingexpert.com/ mortgages/ stamp-duty/
The housing market is an important part of the economy. Understanding how it works can help you make better-informed decisions about your finances. To find out more, MoneySavingExpert recommends you visit the Bank of England’s Knowledge Bank site, which includes sections on: