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Mortgage Advice For First Time Buyers

House prices are constantly rising, the housing market is becoming more difficult for first time buyers to get on to. The professional team at Lothian Mortgage Services are constantly trying to provide adequate information to anyone who wants to apply for mortgage for the very first time.

Top Tips

There are many options in the market offer various mortgage rates, different mortgage deals and several contract options. Most will try to tempt you with their lucrative offer, but it’s important for you to choose the right mortgage that will not only help you now, but also in the long term. If you are struggling to make sense of it all then you should contact Lothian Mortgage Services and discuss your issues with their friendly team of mortgage advisors in Edinburgh.

When calculating how much you can afford you have to be realistic. Most lenders take in to consideration incomings and outgoings to prove you are able to pay back the repayments, this effects the amount you can borrow. It is important to pay off certain things to bring your outgoings down.

Interest only mortgages are also an option. Always look carefully and fully in to this option and weigh up all pros and cons. An interest only mortgage simply means you pay back just the interest on the debt – the debt remains in full until the term of the mortgage is up. At this point you pay back the debt in full. Although this can be very appealing as it helps keeps the cost of a mortgage low, you will need to plan a budget and long term projection on how you will clear the debt once the term is up.

If you’re getting drowned under a bad credit then you must consult Lothian Mortgage Services. Here you can get the best mortgage deals for you if you have faced any credit issues in Edinburgh. As a first time buyer mortgage, they understand your requirements and financial circumstances. You can feel free to get in touch and make your repayments easy for your mortgage.