Our Mortgage Broker Guide to getting a mortgage in Osterley
The mortgage application process has 4 stages regardless of which mortgage lender you use:
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Mortgage Broker Tip 1 | Mortgage Broker Tip 2 |
Use payment reminders where possible if they help youMany lenders offer payment reminders (using e.g. text messages and emails) to tell you when a payment date is approaching. These can help you to coordinate making the correct payments on time.
If the lenders offer an automatic payment facility, this may also be worth using although you should check whether the facility only makes the minimum payment as larger payments are the best way to pay down a debt more quickly! | Tracker MortgageTracker mortgages are variable rate mortgages normally pitched at a few percentage points above the Bank of England base rate. Depending on the product, the tracking may be set for a fixed time period.
You might benefit over a fixed rate mortgage initially in terms of a cheaper interest rate although you would be betting on the rate not rising too much, in which case you would have to fork out more in repayment costs. For this reason, tracker mortgages might suit those with more room to manoeuvre financially and with a higher risk profile.
If there is a fixed tracking period, it is highly likely that if you want to leave before this period has expired that you'll have to pay a substantial early repayment charge. |
Osterley is an affluent district of West London in Hounslow Borough, around 10 miles west south-west of the capital's centre. It is excellently located for commuting into London, travel to Heathrow and to enjoy one of the many open spaces in and around it. Landmarks include Osterley House and parkland and the Aviary Farm, one of the Sultan of Brunei's residences.