Its not all about the mortgage

When you buy a property with a mortgage or remortgage your existing property you are taking on a number of responsibilities, many people think that getting the money is all that matters.

Wrong – The key points you need to consider:-

  • You are making a commitment to a Lender to repay your mortgage on agreed terms if you do not you will fall into arrears and risk losing your property, so being able to afford the mortgage and meeting the repayments is really important.
  • Life is not simple and things have a nasty habit of going wrong at the most inconvenient time None of knows “what is around the corner” so you need to give very careful consideration to the following questions:-
  • How would you make your mortgage repayments if you lost your job?
  • How much savings do you have to tide you over until you go back to work?
  • Living is not just about the mortgage, how much money do you need to live on each month?
  • What would happen if you fell ill and was unable to go back to work or you needed to take a lesser paid job?
  • What would happen if you died, how would your family support itself?

These are all questions we will pose to you, as a Client of Lifelink we want to give you the best possible advice and we have a duty of care to ensure that you are aware of the risks and how they can be dealt with, we are mindful that everybody has a budget and we will prioritise your needs within that budget. We will give you a free risk assessment to help you decide on your needs.