Viewing
a mortgage in four parts can help borrowers to
understand the mechanics which in turn may assist with
their approach……
Essentially a borrower would normally address FOUR key
areas, they are
:
-
Which
Mortgage Type is most suitable – either
repayment or interest only
-
Which
Mortgage Scheme will best suit the borrowers needs
-
Protecting
mortgage repayments and income requirements in
case of misfortune
-
Ensuring
the asset is protected with buildings insurance in
cases of catastrophe
Professionally
qualified advisers work through the mechanics with
their clients’ by factoring in the borrowers
attitude to risk coupled to their affordability.
Ultimately a professional adviser will only assist
their clients to transact business after being
convinced of their clients’ likeness, affordability
and full understanding of the proposed solutions.
Striking the right balance can be crucial.