Want The Best Mortgage Rates? Read This to Plan It Out

we are working with a large group of first-time and seasoned homeowners and helping them get the best mortgage deals, even in this market

Getting a mortgage will have a significant impact on the borrower’s life. A new asset and a considerable liability get added to the borrower’s name. And that is why it is critical to ensure that the cost and terms of borrowing are as friendly as possible for the borrower. If you are a prospective borrower and are seeking the best mortgage rates for your upcoming purchase, you might need much more than just the inspiration to get a good mortgage deal.

Zinga Mortgages, one of the best mortgage advisor in London can help you with your mortgage process. Mortgages can be tricky, especially in extraordinary market conditions like the current one. The residential market and the lending market have started coming out of the direct impact of the pandemic, and the government is working to absorb any aftershocks that might have gone unnoticed till now. If you are starting out in the search for the best mortgage deals, you should have a process in place.

First and foremost – define the same set of needs you have. For instance, prospective homeowners or borrowers can have a wide range of neds like a preference for a lower cost of borrowing, seeking liquidity at the behest of property value appreciation, need for investing in the real estate market without taking a capital risk, or merely renovating one’s existing property. All these needs require a specific mortgage product, and defining them can help you locate the precise one that can deliver maximum value for you.

Then comes the financial planning part. Ensure that you do not have any significant financial events clashing with your home acquisition process, or it may drain your savings or even result in not-so-friendly mortgage deals. Aggregate your income, holding statements, credit score, and liabilities to evaluate your financial position before you approach a lender. Then, map the treatment of taxes, rebates, and discounts that you can expect from the deal.

Depending on your eligibility, you will have to account for capital gains tax, income tax, stamp duty holiday, mortgage interest tax relief, and so on. These ancillary costs will help you get a better idea about your net cost of borrowing.

Mr Manooch Suri, Managing Director at Zinga Mortgages, recently stated, “Homeownership is much more than a need – it is an aspirational purchase. While the process can seem daunting, we are working with a large group of first-time and seasoned homeowners and helping them get the best mortgage deals, even in this market.”

The right mortgage advisor can help you get exposure to a larger & friendlier set of mortgage products, assist you in the documentation, provide you clarity on the exact terms of the deal, and even expedite the process for you.

For more information, please get in touch with Zinga Mortgages at hello@zingamortgages.co.uk or visit www.zingamortgages.co.uk