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The mortgage world is changing, so get ready to change with it

We regularly hear people these days telling us about the benefits of thinking outside the box, whether it’s in relation to a job application, the purchase of our weekly groceries or even the way we make a cup of coffee. Thinking outside the box – whatever the ‘box’ might actually be – represents an important step in changing our attitudes, rather than just an annoying buzz-phrase that we should all ignore.

When it comes to personal finance, shaking up the more traditional habits can be rewarding, and this is often true in the case of mortgages. There was a time in the UK when you were basically limited to property purchases that were funded by a high street bank or building society, but in recent times things have changed not only dramatically, but also for the better. For most people, beneficial deals are best found via mortgage advisers with a comprehensive knowledge of the market.

There’s still a place for the Halifax, the Natwest, Barclays and all the rest, of course, but for the borrower there are also some interesting alternatives. This is good news for you if you’re about to seek a mortgage. It may be that your most suitable option will still be with a high street giant, but there’s also the possibility that another option could turn out to be most appropriate.

Here at CNS Financial Solutions, we know all about the mortgage market, and we also know how confusing it can be for our clients. For some, the sheer excitement of the property search and the euphoria of finding the ideal place to live can quickly be negated by the daunting prospect of pinning down the most appropriate mortgage deal. Thankfully, we know how important it is to put our clients at their ease.

At this stage, we believe in clear, honest explanations of the various deals that are available, including the plus and minus points for that particular client. This is definitely not the time to sign up to a long-term deal that isn’t just right, so the need for clarity is paramount. In short, if the mortgage doesn’t tick all of your boxes, then it’s not the one to choose.

Needless to say, some of our clients are very well-versed in the mortgage market, having purchased properties on many occasions in the past. Even these people, however, will often be unaware of the changes that have occurred in the world of borrowing. Lending in general has altered dramatically over the years, so using financial specialists who really know the sector is crucial.

It’s also imperative for first-time buyers. If you’re thinking of making your first property purchase, you need to know about the pros and cons of fixed-rates, variable-rates, trackers, offset mortgages and more. It’s an extremely complex process, and getting it wrong can cost you an awful lot of money over a period of 25 years or more.

If you’re in any doubt whatsoever, it’s best to engage the services of experienced financial specialists. The team at CNS Financial Solutions can help to bring you the peace of mind you need at this stage, so make sure you call 07414 750 874 today. We look forward to hearing from you.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Approver: Quilter Financial Services Ltd. 09/01/24

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