Comparing & Applying For Mortgages Online

My girlfriend & I are looking to get a mortgage and I have been looking online (most

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I was wondering if the "Overall Cost for Comparison" value is a good way of comparing mortgages? All the "best buys" seem to have a higher value for this than the mortgage I found using the mortgage wizard the site supplies. After going through the wizard and inspecting each offer I have found a 3yr fixed mortgage with the Alliance & Leicester. For our situation, the overall cost for comparison and the total amount re-payed seemed to be lower than anything else on offer. Is this a good way off looking at it?

What about applying online? Are there any caveats? Perhaps I should stop with the online route and start making appointments with a branch on the High Street. I get the impression that few people atually do the application online.

Any advice is much appreciated!

TIA

Reply to
elziko
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Total amount repaid is not terribly useful unless you plan to stay with the same mortgage company for the 25 ? year term.

Best look at the AER and the monthly repayments, also any "goodies" on offer e.g. free conveyancing.

I personally find Nationwide take some beating, I'm on my second two year tracker with them. They offer three months free mortgage protection. Posting from Peter Rogers

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Reply to
Peter Rogers

It depends what term you look at, if comparing, for example, 3 year rates over a 3 year, also taking into account the outstanding balance, it's a very good way of looking at mortgages

I suspect all of us here are long enought in the tooth to realise nothing is for free...

Possibly Nationwide for *some* remortgages, but far from it for purchases.

Reply to
Matt Robertson

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