Some of these questions have been Googled over 100,000 times
A mortgage expert has revealed the 'most Googled questions' that are asked by people who are looking to buy their own house for the first time. Mortgage brokers at L&C Mortgages have analysed search volumes for multiple questions and terms about buying a home.
Lenders assess factors including age, income, and monthly outgoings to determine if you can pay your mortgage back at both the current and potential future rates. They will also look to see if there are any likely changes to circumstances that could affect your ability to pay the mortgage. The best way to get this done is through an estate agent or registered surveyor. Online valuation tools can also be used, but it must be noted that these tools provide a general estimation, and mortgage lenders will want an accurate valuation of the property to confirm its worth.
In fourth place is 'how much deposit do I need?' The deposit you put down should be at least five percent of the property value. However, significant deposits at 10 percent or 15 percent allow for better and lower mortgage rates because lenders consider homebuyers with higher deposits as lower risk. 'How can I get a mortgage' has 26,150 monthly global searches. The first step is determining how much you can afford to spend on your monthly mortgage by analysing your current financial commitments.
There are numerous types of mortgages, you will need to determine which you want, the most common being a fixed-rate mortgage. These are common because the interest rate will not change for the duration of the fixed rate, which gives you the security of knowing what your payments will be.
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