Idiots guide to mortgages

Layo909

Could somebody recommend a good idiots guide-type book on mortgages? Preferably an e-book.

The only e-books I can find on Amazon seem to relate to US law.!

ACG

Hi,

I have been writing posts over the last month or 2 on mortgages. Ive put a link below, which has a post called Mortgage Options, there is also another called Offset mortgages. They may both be what your looking for???

http://manchestermortgagebroker.co.uk/blog.php?start_from=5&ucat=&archive=&subaction=&id=&

Regards,
Tony

tiggerjj

There is a MSE guide to mortgages, that was where i started when i was learning, have a look

Conrad

To be frank such guides tend to be very text book and irrelevant. They remind me of the official training available to brokers which is next to useless once out in the real world.

As but one example, a guide will doubtless lead you to conclude that what you need is a capped mortgage, afterall the guide says you benefit from low variable rates yet have a cap above which the deal cannot rise. Only problem is that there are usualy no such deals available or the rates are not favourable.

The guide will tell you that an ISA or other savings vehicle is a good idea to repay an interest only loan, but in reality it can be more prudent to simply make payments of capital off the debt each month and thereby not be relying on some unknown future return from a savings plan which may well have a rate of return less than the mortgage rate itself!

Common sense is your best tool.