Money makes the world go round and if you are looking to buy a house, getting an agreement in principle from a mortgage broker lets you know exactly how much you have to spend and shows estate agents and sellers you are deadly serious. But first the key is to decide what mortgage is right for you. There are thousands in the market and speaking to a mortgage broker will allow you to discuss the most suitable type of mortgage, the conditions that apply to each and which might work best in the long run. Remember, buying a house is a long-term commitment and so making sure you can meet that obligation into the future is important.

One of the big decisions will be whether to pay back the money you have borrowed through your mortgage, or only the interest on the debt. Only paying the interest will keep the monthly payments down, but means the balance has to be settled 25 years down the line when the mortgage term ends. Although the monthly payments may be more, paying the loan and the interest as you go can help avoid any problems at a later date. The key to success is taking your time. By getting organised in advance and understanding and exploring what is available, borrowers will become more confident in how the mortgage market works and how they can use it to their best advantage.

Move Angels’ Quick summary

• Get advice on what’s available, how it works and what the best options are for your own personal circumstances.
• Take time to work out what’s available and don’t be forced into a quick decision because you just didn’t get round to organising things.