Best Repayment Mortgages Website Reviews

Perhaps the most common way to repay a mortgage loan is to make equal and regular monthly payments that cover both the repayment of the loan principal and also the interest payments. This type of repayment method is called the repayment mortgage in the U.K. and called a “self-amortizing” mortgage payment in the U.S. These monthly mortgage payments (or amortizations) are designed based on the paying capacity of the borrower (the future homeowner) calculated from certain ratios such as total debts to gross income ratio. Other factors taken into consideration is the prospective borrower’s creditworthiness based on credit and repayment history.

Site 1: http://www.fool.co.uk

This is one of the best U.K. sites that I have encountered concerning mortgages. It is very helpful also to first-time borrowers and takes out the guesswork by their on-line help and calculator. Questions such as how much to borrow, what is the best term period, what are the extra out-of-pocket costs, and other such related matters are fully and satisfactorily answered by their competent staff. They will also try to guide you towards the mortgage type that is best suited for you and the lender that best answers your financial needs. One has to be a registered member first to get their advice on the whole mortgage market.

Site 2: http://www.hsbc.com.ph

This is the local Philippine website of the giant HSBC, the world’s local bank. Their site offers both personal loans and housing loans where you can apply on-line by filling out their forms. Besides professional advice, you will get the best (lowest) loan rates, flexible loan terms and various repayment options based on your preference. A helpful feature is their on-line calculator where you can impute some data and learn everything you need to know about the loan you are applying for. There is also an on-line follow up status system such that you can track your application’s status.

Site 3: http://uk.reuters.com

I choose this site and recommend it highly because it has the latest news available on any finance-related news and articles. Among its late-breaking news lately is the decision of the Federal Mortgage Corporation (or known as Fannie Mae) to set just a single national standard for all down-payments on housing mortgages. Essentially, the announcement is to stimulate the sagging U.S. housing market due to the recent sub-prime crisis. The new policy allows a higher L-T-V (loan-to-value) ratio and even 3% down payment is enough
to buy single-family housing to be used as a primary residence.