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Homeowners told to consider mortgage options
05 September 2008
Homeowners should consider how to get the best mortgage deals available to them about three months before their current deal expires, claims Cheltenham and Gloucester.
According to Cheltenham and Gloucester, despite the current economic climate there are a number of mortgage options which are available to homeowners and it is important to carry out prior research in good time.
Stephen Noakes, marketing director at Cheltenham and Gloucester, said: "The key encouragement is that they start early in that process and it's recommended to probably start about three months out."
Mr Noakes states that it is important that homeowners understand their own position and they realise what lending criteria applies to them.
"People can see the different deals that are available, they can go and speak to a mortgage broker and online is also a very good channel to do that," he added.
Figures from the Council of Mortgage Lenders, from August 2008, revealed that 47,000 home loans were approved in June 2008 compared to 52,000 in the previous month.
Search for the best UK mortgage deals
