How do chose a mortgage

[rottiemott]

This may be a stupid question but how do you decide on what's a good mortgage deal?

Use a broker. London and Country are very good.

Generally you would speak to a mortgage adviser to work out the best deal for your circumstances.
It may be certain lenders will offer more lending based on affordability, or based on the type of employment you have. I’m some may have faster turnaround times if that’s something to consider. There is alot to consider when deciding on lender and rate, it’s best to get professional advice

Thank you, I know I want to fix for 5 years but choosing between the different ones that are available seems confusing.

Go through a broker. You may not get a choice in any event!

Agreed with L&C.
Do you know if you want to fixed rate? I assume so, that’s what most people do - some user a tracker but with mortgage rates increasing that’s becoming less popular.
Do you know what your LTV is so can see what mortgages are available to you?
You know you want a five year fix, so that’s a good start.
Obviously, the lower the rate the better. But you have to factor in the booking cost. For example I recently took out a new five year fix and chose a slightly higher rate with a lower booking fee, as over the five years that was the best option. To work this out, crudely, take the monthly payment of each mortgage over the five years, multiply by 60 (for a five year fix) and add the booking fee. Do that for all your options, and the one with the lowest total is the best overall rate. BUT that relies on you being able to afford the booking fee.
Good luck OP!

@Shamoo thank you that's helpful.

Most lenders let you add the booking fee to the loan as long as you stay within LTV limit. It will increase the amount you have to pay back and you will pay interest on it.

When I bought my first apartment, I knew nothing about what a good mortgage was, and because of that, I had to pay a high-interest rate. When the mortgage was closed, I lived in the apartment for two years, but then I got pregnant, and my husband and I had to look for a house so the baby would have enough space to play. The hardest part was finding a good broker to help us choose a good mortgage option. We had already found a house and were ready to deal with the owners. We were lucky that the brokers from this company (londonmoneyman.com/mortgage-broker-basingstoke/) took care of everything, and the mortgage was approved.

Read through Martin Lewis /MSE's guide to mortgages, the more you know about how it all works the better an informed decision you can make.