| Many financiers will offer or include buildings and contents assurance and Good Quality Mortgage Payment Protection Insurance (MPPI). You may be able to get a better deal on insurance from someone, such as an independent broker, so don't be lazy; shop around for a bit. | General Consumer Tip: An interest-only deal require that only the interest on the e-mortgage is paid off on a regular monthly basis, the rest of the actual amount borrowed is then paid off via another method e. g. a pension, an endowment, or an ISA. This means that the monthly repayments do not actually pay back any of the initial loan. The borrower must be sure to make regular payments to the other method (pension, endowment, or ISA) to ensure the complete payment of the e-mortgage by the end of the agreed period. There are also many different forms of interest rates associated with the various types of e-mortgage deal offered.
|
| General Consumer Tip: Once you've settled on a few companies, you can enter their business name in a search engine with the words 'problem' or 'scam', and see what comes up. Anyone can set up a item info site. But few can offer a reliable, trustworthy service. If they haven't got an office, or you can't get them on the 'phone, or they won't return your calls, or they take your money and you never hear from them again, can you say you got a good deal, even if it was cheap?
|
|
