{"id":860,"date":"2023-01-09T12:33:29","date_gmt":"2023-01-09T12:33:29","guid":{"rendered":"https:\/\/www.redstareducation.co.uk\/blog\/?p=860"},"modified":"2023-01-09T12:33:29","modified_gmt":"2023-01-09T12:33:29","slug":"reading-the-small-print-with-mortgage-offers","status":"publish","type":"post","link":"https:\/\/www.redstareducation.co.uk\/blog\/reading-the-small-print-with-mortgage-offers\/","title":{"rendered":"Reading the Small Print with Mortgage Offers"},"content":{"rendered":"

Getting a mortgage can be more complicated than it seems at first glance. Because of this, it\u2019s important that you always read the small print in order to avoid any nasty surprises!<\/p>\n

What Type of Mortgage is it?<\/h2>\n

There are a whole host of mortgages, which all work a bit differently to one another. The Mortgage Genie<\/a> has a helpful guide you can use to find out more about each type of mortgage.<\/p>\n

What is the interest rate?<\/h2>\n

Firstly, it\u2019s important to know whether the interest rate is fixed or variable\u2026 will it stay the same or will it change over time?<\/p>\n

Low rate offers may have hidden fees and charges that you aren\u2019t initially aware of. This means that they may offer you a really competitive interest rate but actually end up more expensive than other offers. If a deal seems too good to be true, it very well might be\u2026<\/p>\n

Lenders must include mortgage related fees as part of their annual interest calculation, meaning that it\u2019s more important for you to look at a lender\u2019s APR (annual percentage rate) than their interest rate.<\/p>\n

What Fees do I have to Pay?<\/h2>\n

There are various charges involved when getting a mortgage which differ depending on the provider. It\u2019s important that you consider their impact on the overall cost of getting a home, as they can add up more than you think.<\/p>\n

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