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What are the Benefits of Using a Mortgage Comparison Service

Mortgage comparison services are not really a new thing, they have just increased in popularity in the last ten years. The stormy economic climate means most people are now extra careful before committing themselves to anything involving spending money.

Buying a mortgage is a big deal and with so many lenders offering special rates, offers and packages, it is hard to know who to mortgage with and whether you have chosen the most suitable mortgage for your needs. A mortgage comparison service takes in all your details, such as age, employment and financial status as well as any special requests you have for your mortgage, fixed rate, variable and so on. It then checks through the hundreds of lenders to find you a mortgage that meets your requirements, suits your needs and at a price, you can afford.

MoneySupermarket.com is probably the most well-known comparison service. They calculate your finances for you and help you choose a mortgage to suit your financial needs. They also offer a telephone service,where you can speak to an advisor. This is most suitable for people who have no idea what applying for a mortgage entails. Money Supermarket even works out the monthly payments for your chosen mortgage as well as the amount of interest you will pay. Money Supermarket also compares home loans, credit cards and more.

The Motley Fool Mortgage Service is designed specifically for mortgage comparison. The site has won the best mortgage comparison service award in previous years. Not only do they find you a suitable mortgage, they handle all the paperwork for you too. They do not charge a fee and have access to special offers exclusive to their site. They also offer a telephone service for people who are unsure of what they are doing and they have a helpful mortgage PDF guide free for all visitors to the site.

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