It has become very difficult to find the right mortgage for your situation. Since the credit crunch, 100% mortgages are not available any more, and lenders have become a lot more cautious. Most brokers will now require a 10% upfront deposit as a minimum, rising to 25% and over in the case of buy to let mortgages. In order to get the very best mortgage rates, be ready for deposits of 30% or even more.
So more than ever it is vital to compare the market mortgages are available from hundreds of lenders. Here are a couple of tips to get you started:

1. Be informed: when it comes to mortgages, the more you know about them the better! There are so many types of mortgages these days that choosing the right mortgage for you situation can be a daunting task. The internet is a good source of information - just type "mortgage guide" in your favourite search engine.



2. Compare the market: deals vary a lot from a mortgage lender to another, so it is vital to compare all the options available. Several comparison sites are available on the web, and they are a good starting point to give you an idea of the current mortgage rates.



3. Be aware of all the costs involved: don't be attracted by a low headline interest rate. Often the deals with the lowest rates have got higher fees and may not be the best option. Consider the total cost of the mortgage other the entire term rather than a temporary low interest rate.



4. Be aware of early repayment charges: some mortgage deals come with high early prepayment charges that make it very costly to change lender if you want to switch to a better deal.



5. Seek the advice of an independent mortgage adviser: a mortgage is probably the biggest financial decision you will ever take, so it is vital that you speak to a local, independent adviser. Only an independent adviser can provide you with impartial advice to let you choose the best mortgage deal for you situation.



6. Plan ahead: where do you see yourself in 10 years time? Will you be able to afford the repayments? Do not forget that a mortgage is paid off over a long period of time, you should therefore plan things ahead, and make sure that the mortgage you apply for will be compatible with your future life.