Mortgage Marketplace: A look at the mortgage market place of today...

our online Mortgage Guide - Page 2 of 14:

Today's mortgage market place is a sophisticated beast indeed, with a vast array of mortgage products designed to accommodate even the most difficult and non-conventional situations.

Here we look at how and why the mortgage marketplace has evolved from its humble beginnings to it's present day status of being able to cater to the changing needs of the modern homebuyer.

Although committing yourself to a mortgage, which is likely to span a quarter of a century or more, can be a daunting experience, it can also be a very exciting time too!

Despite the various financial blips that will inevitably occur over a period of time, today's mortgage marketplace is crammed full of a glittering array of mortgage products, each having its own place and waiting to be matched with the appropriate borrower!

That was then, this is now...
Just compare the availability and choice of mortgage products in the 1960's to the myriad of home loans available to borrowers these days! Back in the sixties to even qualify for a mortgage, borrowers would have to save with their chosen building society for a minimum period, during which time they had to save a minimum of 10% for a deposit. This would then allow them to join a mortgage queue. Nowadays there are probably upward of 7,500 mortgage plans of all shapes and sizes available to the modern homebuyer.

So you will have gathered that there's much more to a mortgage than the interest rate you're likely to pay!

The massive shake-up of the financial services industry in the mid-1980's for the first time saw new lenders competing with the tired old building society mortgage. A new breed of mortgage lender entered the mortgage marketplace and introduced a myriad of sophisticated mortgage products that were geared to the changing needs of the borrower.

That concludes our look at the mortgage market place of today. On the next page we'll take a look at buying your first house...

NEXT: Buying your first house ›

Enquire Online now, or call us today 08000 282 281 - our freephone lines are open 8am-10pm everyday! We'd love to hear from you!

The overall cost for comparison is 9.8% APR.
The actual rate available will depend upon your circumstances. Ask for a personalised illustration. APR variable and based on a usual case. Most customers are likely to receive a lower rate or the same rate as our overall cost for comparison rate - learn more about APR.

There are no upfront broker fees.
However, a fee may be charged on successful completion. An indication is that on conforming cases (straightforward applications with no or minimal adverse credit) a fee may be charged of up to 1% of the amount advanced, typically £795 and will depend on your circumstances.
For non-conforming cases (where case research and processing may be more complex due to adverse credit or unusual circumstances), a fee may be charged of up to 3% of the amount advanced, typically £1,995.

THINK CAREFULLY BEFORE
SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED
IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

Adding existing debt to your mortgage will increase the repayment term and overall cost.

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Authorised and regulated by the Financial Services Authority in respect of regulated mortgage products and general insurances.
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