mortgage expert notes difficulty of picking the right deal

Date:Wednesday 22nd September 2010
Author: Max Freedman

It can be very tricky to pick the right home finance arrangement, a mortgage spokesperson has pointed out.

Andrew Hagger explained that the cheapest mortgage is not always the one with the lowest interest rate, since there are all sorts of other charges to keep in mind.

"Unlike savings accounts, personal loans or credit cards, the answer isn't as simple as referring to a best buy table on a comparison website," he said.

In his opinion, it can be a sensible idea to speak to a professional once people have decided whether they want a variable-rate arrangement or fixed-rate deal.

The mortgage expert pointed out that one size does not fit all, so what may be the cheapest option for one person may not be for another.

Recently, Mr Hagger hailed a product released by Lloyds TSB called Lend A Hand, which he stated could help first-time buyers get on the property ladder with the help of their parents' savings.