Playing The Mortgage Waiting Game

There can be no doubting that for most adults, their biggest financial obligation is their mortgage. Sometimes you can be tied to a particular mortgage for a number of years so it makes certain sense to do your research before you sign on the dotted line.

A step by step approach is the most secure and logical way to approach it. If you are not particularly good with figures then enlist the help of someone who is, as any poor judgement exercised in the early stages could lead to some major regrets later on.

Information gathering is vital and it pays to shop around. A slow and measured approach can pay handsome dividends in the long term. Oftentimes you’ll need to keep one eye on the present and the other eye on the future – you will assess your options, then you will assess your finances while trying to factor in things such as future earnings, starting a family and other costs. Your mortgage is never just about your circumstances right now!

Lots of questions jump into your head and it is crucial that you ask and get answers to them all. Being a good listener helps as you recognize your lack of knowledge on the subject of mortgages and go about rectifying that. Options include buying one of the many books out there, listening at dinner parties and taking the business card of that person who works at the bank. Inside knowledge is key as it is easy to get lost in the abundance of advertising, newspaper columns and financial websites dedicated to mortgage lending.

Your best social skills are often required as you surround yourself with the right people, you’ll never look quite as far and wide again for impartial advice on a subject! You will learn a lot quicker than you think and you will find no shortage of mortgage providers out there, although good deals vary widely so be prepared to spend many hours on your computer.

When it all seems too much (and there will be days when this is inevitable!) remember that millions of people this year will go and compare mortgages. They succeed in the end and you will too, as long as you realize that it is a marathon, not a sprint!

Yes, it can be a long process involving more mathematics than you have ever been exposed to before, but you will never encounter a scenario where getting it right the first time matters more than this one. Patience and sensible thinking will lead to a decision that is right for you. It is useful to focus on the level of satisfaction you will feel when everything is complete.

Keep your eye on the prize and the rewards are worth the effort.

Daniel Collins writes on a number of topics on behalf of a digital marketing agency and a variety of clients. As such, this article is to be considered a professional piece with business interests in mind.