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Mortgage Tips & Considerations
Understanding the key factors that affect your mortgage can help you make informed decisions about your property purchase.
Deposit Size
The larger your deposit, the lower your loan-to-value ratio and typically the better interest rates you'll qualify for. Most lenders require at least 5-10% deposit.
Interest Rates
Fixed rates offer payment certainty, whilst variable rates may start lower but can change. Consider your financial situation and risk tolerance when choosing.
Additional Costs
Remember to budget for solicitor fees, survey costs, stamp duty, and moving expenses. These can add several thousand pounds to your purchase.
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