Wondering how to use a mortgage calculator?
Pricing the cheapest Mortgage quote possible can be a tortuous process, so more and more people are letting Mortgage Comparison sites do the heavy lifting for them, but how do these wonderful sites work? Well, they use a mortgage calculator to deliver you the cheapest quote possible on your mortgage, taking into account all of the variables, that's how.
Mortgage calculators are different from other types of calculators in that they resemble a form more than anything else. They work by you inputting some very basic details about yourself, such as how much you earn, how much the house will cost, the stamp duty, and the interest rate on the loan. Using this information, it creates a mortgage quote that suits your needs, pruned from various companies, letting you compare them to see which quote suits you and your pocket best.
These quotes will often include special offers, and can be tailored further once you get them, so it just gives you a rough idea of what's out there really! They are extremely effective, with most results that come back proving remarkably accurate when people go to actually take out the mortgage.
We're a big fan of the insurance comparison sites that use these calculators, and we have no hesitation recommending Compare the Market, which you can find online at http://www.comparethemarket.com/ . This site is a one stop insurance and Mortgage shop, and you can get quotes for just about every type of insurance here.