Adam's Mortgage

My friend used to say that 10 years ago all you could bring to your local mortgage broker was a contract mobile phone and a photo ID to get mortgage for any property. Although it's a very much tongue-in-cheek explanation no-one will argue that lending habits of banks have changed during the last decade. Marketing efforts of lenders will have you believe that mortgage application is the most straightforward process whereas you don't need to know much about.

Truth is far from that, however, and anyone not willing to be held back by bad mortgage for the next 20 or 30 years should excersize due dilligence and learn as much about the typical 'small print' regulationa and recent changes to the law. It doesn't cost you anything apart from time spent reading and thinking, not bad considering that ignorance will without doubt cost you thousands.