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Youngsters need to choose the right mortgage deal

23/07/2007

This week the financial advice service has stated that young professionals should research the market before choosing a mortgage deal.

When choosing a mortgage deal all factors must be taken into consideration, income, debt, deposit, this and much more should be thought about, Mortgage Financial explains.

Paul Davies explained that doctors normally move around from one hospital to another, indicating to us that they live throughout the UK.

"We would often make sure that the mortgage they do take out would be portable, which means that they can take it to a new property if they have to move somewhere else in the country," he added.

"They might want the facility to overpay on the mortgage if they see that their income is going up and up and up."

Mr Davies continued, "Young professional take on a 100 per cent mortgage and a fixed rate - they usually want a fixed rate so they have stability and they also struggle to have a deposit as they leave university with so much debt."


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