The Mortgage Guide: Free Printed or PDF MoneySavingExpert Guide
This is a full 30-page printed and PDF guide on how to get the very best MoneySaving mortgage deal possible. As with everything else on MoneySavingExpert.com it's completely free and available to all.
STOP PRESS FEBRUARY 2009: Massive changes in mortgage market
Since this guide was last fully rewritten, the credit crunch has hit, house prices have plummeted and the US has hit full blown recession. This has had numerous knock on effects to the way mortgaging works. The guide is still a very good overview, but isn't 100% up to date; we're in the process of doing a full update.
Who's it for?
Any First-Time Buyers, Buy to Let Mortgage getters and those with poor credit histories. Those who already have a mortgage and want to cut its cost, move house, consolidate debts or change the deal should instead read the Remortgage Guide (those remortgaging with a poor history should read the two guides in conjunction).
Why a printed guide?
The reason for a printed guide is because getting a mortgage is just too large a subject for an online version. It's something you need to sit down, read through and take some time over. After all a mortgage is likely to be your biggest single expense and therefore getting it right is the biggest single MoneySaver.
For every 1% you can cut off your mortgage deal you'll save $1,000 a year; so it's well worth taking the time to get.
Does the credit crunch change anything?
The guide was printed before the Credit CrunchThe Credit Crunch
This is the name given to the current phenomena that banks and other big financial institutions are struggling to find money to borrow. As they can’t find money to borrow they’ve less to lend out, which means the cost of debt is increasing, and its availability is decreasing. In other words it’s getting more difficult and more expensive to borrow.
Close , all the information in it holds true though. The main difference is that where once mortgage companies were fighting for business; now many don’t want it. It’s tougher to get a new mortgage deal and tougher still to get a very cheap one. This makes it even more important that you follow through the guide to understand how mortgage deals work before trying to find the right one for you.
How come it's free?
The guide is sponsored by fees-free mortgage broker London & Country, but don't worry, it has had nothing to do with the content, that purely depends on my view of the best way to save money while remortgaging.
The guide is written with complete editorial independence and purely focused on finding you the best deal. This was something I made sure was in the contract with London & Country. How come it's free? Having said that L&C isn't stupid. I've been independently listing it as one of the top brokers for the last three years (see my Mortgages: Sneakily get the best mortgage broker article) so it had a pretty good idea it wouldn't come out too badly.
The reason it sponsors the guide is it gets a one time chance to include its own letter promoting its service when it mails out the guide. And just to assure you, you won't be sent any follow-up advertising or marketing or any of that malarkey.
In the trade this is known as a payment for ‘lead generation' and in this case that means they pay for the publishing, printing, posting and a fee to this site. See more about this site's ethical financial stance.
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