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products that give them the highest commission. Solicitors and accountants also sometimes offer mortgage advice, but since that isn't their normal line of business, don't expect to always get the benefit of a full view of the market. Tied agents may deal with mortgages full time, but in reality they can only sell investment products from the company they are tied to, the identity of which Remotgaging - cheap re-mortgages - Remortaging at cheaps ! Remortaging they should make clear. If they can offer you a range of mortgage lenders, they may be tied to selling you insurance or investment products from one company as well, something they must also declare. Independent financial advisers should offer you either the whole market or a large panel of providers who they can justify as the best for their customers' purposes. They should carry out a Remotgaging - cheap re-mortgages - Remortaging at cheaps ! Remortaging fact find and should also declare their commission. You should also look at online brokers who can provide product information and the facility to apply online. UK Mortgage Calculator. Should you want to plan how much you are able to borrow in terms of monthly payments, and which interest rate you can afford, you can use a mortgage calculator. This will tell you what your monthly payments Remotgaging - cheap re-mortgages - Remortaging at cheaps ! Remortaging will be as well as other information you may find useful once you have entered some variables. Mortgage Calculator. Simple mortgage calculators will ask you to enter the interest rate you have to pay the term in which you wish to repay the mortgage and how much you want to borrow. You may need to put in more details of the mortgage such as perhaps an initial interest rate deal should there Remotgaging - cheap re-mortgages - Remortaging at cheaps ! Remortaging be a discount or fixed period followed by the standard variable rate, should it be a more sophisticated calculator. Your monthly repayments can then be worked out from the amount, rate and the term. It may tell you what the repayments are on an interest only as well as repayment basis. Repayments on a repayment mortgage will start off by paying off a low proportion of capital and a large Remotgaging - cheap re-mortgages - Remortaging at cheaps ! Remortaging proportion of interest. After a year you may find that not a great deal of your mortgage capital has been paid off after the first year of payments. Some mortgage calculators will show an analysis of how much capital and how much interest is paid off each year from a repayment mortgage. This could be graphically represented or it could be shown in tabular form. There are quite a few uses Remotgaging - cheap re-mortgages - Remortaging at cheaps ! Remortaging for a mortgage calculator. You can find out how much you are able to borrow by comparing the amount of your monthly repayments to your income and see how much your repayments eat into your income. This can be particularly useful should you have a mortgage product where there is an initial discount or fixed rate period followed by the mortgage moving onto the standard variable rate. At Remotgaging - cheap re-mortgages - Remortaging at cheaps ! Remortaging the end of the initial period, you may be earning more so the mortgage reverting to the standard variable rate may not be a problem, but it could be worth finding out what income you would need to have to make the mortgage payments comfortable. In most people's experience, comfortable mortgage payments are when they take up 33% of your income. In London, many people's monthly payments end Remotgaging - cheap re-mortgages - Remortaging at cheaps ! Remortaging up being more that 33%, particularly if they are a first time buyer, where they may not be earning much money. In this case they may end up paying up to 40% or even 50% of their income on their mortgage payments. A calculator can help you find out what you would be able to borrow should you only want to pay 33% of your income in payments. Changes are in store for the UK Mortgage Industry. Remotgaging - cheap re-mortgages - Remortaging at cheaps ! Remortaging As we grow closer to 31 October 2004 ('Mortgage Day'), the UK mortgage industry.is scrambling to get their house in order. Once the FSA takes over the regulation of the UK mortgage industry, the rules will change and those changes will be for the better as far as the consumer is concerned. There is currently no official regulatory agency to oversee the UK mortgage industry although most Remotgaging - cheap re-mortgages - Remortaging at cheaps ! Remortaging UK mortgage lenders, brokers and administrators subscribe to The Mortgage Code, a set of standards and service level minimums. that form a sort of industry self-policing agency. The Code currently provides that: You must be informed about all fees and charges in advance. This includes any early payment fees should you pay off your UK mortgage before it has run full term. You must be fully

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