Bristol, England -- (SBWIRE) -- 02/18/2014 -- Mortgages are helpful and risky simultaneously. The need for mortgages cannot be ruled out and there are many people who have benefited from mortgage deals. However, unplanned mortgage deals can ruin the borrowers’ financial status. Moreover, there are numerous companies that offer several types of mortgages, which make the choice difficult for potential borrowers. Fair Mortgages is an online financial service for mortgage deals and advices. The website specialises in comparison of thousands of mortgage and remortgage deals. It has online tools that can be used by any visitor. The quotation and advices provided by Fair Mortgages are independent and personalised according to the details input by borrowers.
Remortgages can be as tricky as any other mortgage deal. Mortgages seem confusing particularly because of their various types, numerous companies and different terms of services. The most crucial factor is the risk failure in repayment, which involves legal issues. Fair Mortgages services are highly helpful in equity release mortgage. It provides comparison between 5000 mortgage deals. The inclusion of such large number of mortgage deals is assurance that visitors are likely to find the deal that they want to compare. Thus, people do not have to be concerned about whether the deal they want to sing-on is suitable for them or there are better deals for their situation. The informative character of Fair Mortgage makes its services understandable for even laymen.
People who are interested in remortgage can obtain remortgage rates through Fair Mortgages without hassle. The loan-to-value rate, which is the measure of the property that can be owned by mortgage borrower outright, can also be seen and compared at the site. Generally, higher the percentage of deposit is made by borrowers, greater fraction of the property they own outright. However, there are other types of mortgage deals. They are formulated to meet different preference of different people. There is fixed rate mortgage, offset mortgage and tracker mortgage, which can transform as lifetime mortgage.
As their name suggests, fixed rate mortgage has set rate of interest and typically span 2 – 5 years. Such mortgages are easy to repay because of the fixed rate. Tracker mortgages range from 2 years to lifetime. They are based on changing rates of bank interests. So, people face fluctuation in amount that they have to every month. In offset mortgage, the savings or current accounts are linked and the interest offsets the mortgage instead of getting added to savings. It is the best type of deal for those who have irregular income. Principal and interest can be simultaneously repaid to pay off the mortgage in whole or only interest can be paid every month and the principal at once.
About Fair Mortgages
Fair Mortgages is financial service website that provides comparison of mortgage deals and advices, recommendations, alerts regarding the same. It is based in the United Kingdom and it website has quite simple and intuitive features and functions.
For Media Contact:
Company : FairMortgages.co.uk
Address : Kings House, 14 Orchard Street,
City, State, Country : Bristol, England, BS1 5EH, UK
Website : http://www.fairmortgages.co.uk