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Do You Know Your Mortgage Rate
Approximately 28% of homeowners across the UK are unaware of the size or cost of their mortgage rates according to research by John Charcol - a statistic that many property advisors are fearful may be even higher…
Speaking on their survey mortgage advisor Ray Boulger revealed that more than 50% of property investors across the UK property market do not know their interest rate or even when their current mortgage deal will come to an end.
And this is a worrying revelation…
Unaware of the day to day runnings of their mortgage, many property investors could be at risk of losing out on the most profitable LTV deals because they don’t know that they need to upgrade.
Even worse, by not having a keen knowledge of their mortgage property investors won’t know when is the best time to switch deals or stick with what they know.
Although such property knowledge is provided to homeowners when the contract is signed, these statistics clearly prove that this documentation is being discarded soon after the deal is sealed…
More about the author of this article
Bindy Jhooti, Property Mentor Delegate
With a total of 4 properties generating £2700/month profit Bindy Jhooti joined Property Mentor after 25 years building a conventional business with a £4m annual turnover. He wanted to start generating a passive income and saw that property was the best choice. As a professional investor people should realize that they need to invest into knowledge before they invest into property. The returns are amazing! Read more
To see a full list of our writers and find out more about them please visit the authors page.
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The strategies that we teach apply to everyone - if you are new to property you need all the advice you can get, and if you are an experienced investor you never stop learning.
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