Conveyancing quotes compare the different work that needs to be done before being able to give you an accurate costing. It is important to check any quote you receive to ensure that it covers everything you need it to and that there will be no hidden costs later down the line.
There are a number of different mortgage products out there that conveyancing solicitors will be aware of. Which one is right for you depends on your situation and it pays to do your research. A tracker mortgage is one for which the interest rate is linked to the Bank of England base rate – often the base rate plus two or three percent. If the base rate changes, so will your mortgage repayment.
If you choose a tracker mortgage then you will be locked into a two to five year deal unless you choose the more flexible lifetime (term) trackers – these have no penalties associated with them. The advantages of a tracker mortgage start with the interest rate, which is often much lower than with a fixed rate mortgage. Plus, even though the rate will change throughout the term of your mortgage, it is easy to keep up to date with those changed as they will be linked to Bank of England rates.
The main disadvantage of a tracker mortgage is that you won’t have the security of a fixed rate mortgage, so you won’t necessarily know exactly what your mortgage repayment will be each month. If the rate goes up will you be able to afford your mortgage repayments? Just as you compare conveyancing, you should compare mortgages too.
Using an online tool for conveyancing quotes compare reasons is a wise decision.
At Conveyancing Index, our website is user-friendly and our conveyancing comparison can save you £367 (on average) per instruction.
See more at https://www.conveyancingindex.co.uk or call us on 0203 874 2020 for more details on our excellent service.