Finding a good mortgage with Go Direct’s Mortgage Calculator
Looking for a mortgage can be a stressful thing. Many people have no idea initially of what they can actually afford to do, or how they can go about getting a mortgage, other than heading down to the high street bank. Go Direct are an excellent example of a company that offers a range of financial services on-line, on an easy to use website, that takes the initial stress out of searching. Having looked at the Go Direct website for a number of other financial services including life insurance, it seemed sensible to see what they would have on offer in relation to mortgages. Having rented a house for the past three years, it seemed that it would be sensible to have a look at options available to me, as I was beginning to feel that I was effectively throwing my hard earned money down the drain. At least if I took out a mortgage, my outgoings on accommodation would have an end result, unlike that with paying monthly rent. The first thing that I needed to ascertain was exactly how much money I could comfortably afford to pay out of monthly earnings. The Go Direct website has a mortgage calculator which enables people to punch in specific details, and work out the approximate amount of mortgage that the person may be entitled to.
Professional financial calculator
Although not an exact science, it gives the potential customer a good ball park figure in respect of what mortgage lenders will give, so this seemed an excellent idea for a newbie like me. The Go Direct mortgage calculator is easy to use and gives results quickly, after punching in the required details; I was presented with a range of options available. Of course, there are also a number of different types of mortgages that are on offer, from payment to endowment, so it was important that I was able to find out which would be the most suitable for me. I certainly felt that a payment mortgage would be a more secure type of plan, but was also mindful that the monthly payments were higher, than those offered by an endowment policy. After doing a little more research about the individual products, I felt more comfortable with the endowment option, although I was made aware that with such a product there is still an element of risk in relation to an endowment shortfall. However, the monthly mortgage payments were less painful, and with the endowment policy it also acts a life insurance product, as well as with some endowment policies offering the critical illness benefit, meaning that should I be diagnosed with a particular illness, then the mortgage will be paid up in full. This certainly added a sense of comfort into the equation, and I was happy to further follow up on the options that were available to me. I have to say that the mortgage calculator was the perfect stepping stone allowing me to dip my toes into the water with little stress attached.