We got married last year and now finally decided to buy our first home. I asked around and mortgages seem like a good solution. Now we are interested are there some advantages for first time buyers and what are the best deals for us? Should we opt for a fixed rate, a capped rate or a tracker?
First, you have to be realistic about the sum of money you want to spend on your house since even the new houses requires some furnishing and adjusting. Try to find suitable area with low crime percentage. Be careful about signing up a deal and be wary about endowment insurance policy. Fixed rates can sometimes be a problem when you would want to pay off your mortgage earlier. Anyway, mortgage brokers are waiting for you to give them money so you are in the position to ask and choose.
