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Look around for the best cheap mortgage

Date: Thu, 12 Jan 2006

Homeowners and potential property buyers are being advised to consider all types of house loans when shopping for a cheap mortgage deal.

Many consumers automatically dismiss offset or current account mortgages but they could be the sensible and cheapest option for many homeowners. In addition, borrowers should shop around every couple of years to ensure that they are consistently getting the best cheap mortgage deal on offer.

"Although your current financial circumstances may prevent you from taking advantage of offset or current account mortgages, don’t dismiss them completely, as with professional financial planning, they may still prove to be a beneficial option to consider in the future," stressed Rachel Mckay, a mortgage analyst from moneyfacts.co.uk.

She added: "Consumers should keep an eye on the best buy tables or mortgage comparison websites, and ensure they regularly seek independent financial advice to ensure the right mortgage vehicle is used to suit their individual circumstances."


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