What to do and do not?

Do

• Try to get the best advice and the best mortgage deal by shopping around. Take into account the track record (interest rate changes) and policy of individual lenders.
• Check and compare interest rates
• Evaluate if you can afford increased monthly payments n the case of interest rate increase.
• Try to get the best available rate from your lender - you may be able to negotiate an initial lower rate and haggle with other lenders.
• Store all correspondence from your lender and documentation copies in a safe place.
• Shop around for life insurance (mortgage protection) and home insurance. You don't have to buy it from your lender.
• Check how many lenders your broker represents.

Do not

• Be careful with 'freebies' and special offers. First-time-buyer packages are usually cheaper at the begining, but can revert to higher rates after the initial period.
• Never take the first mortgage deal offered, being approved by a lender isn't anything special - make sure you can't get a better deal elsewhere.
• Do not accept a mortgage protection policy of your lender straight away. Make sure it's really the best deal by shopping around.
• Never miss repayments. Your property is at risk if you do not keep up repayments on your mortgage or other loans secured on it. You don't want your credit rating to suffer as you may have difficulties getting other loans.
• If you get into financial troubles contact your lender immediately and try to work out an alternative repayment arrangement.