The mortgage market is also watched very closely by consumer research website, moneynet. In addition to tracking market behaviour, property values and homeowner incomes, moneynet have endeavoured to become increasingly proactive about educating their visitors, so they fully understand complexity of relevant financial products. In addition to their mortgage comparison service and mortgage protection options, moneynet published a comprehensive mortgage guide earlier this year, as part of its series of consumer product guides. Moneynet isn’t only site to offer enhanced information services; Which? also offers a detailed mortgage guide and mortgage search tool powered by Moneyfacts. Both “Switch with Which?” and moneynet take consumer through types of deal available, detailing different interest rate structures including fixed rates, capped rates, discounted rates, stepped rates and standard variable rates.

The CML state that there is much evidence to show that first-time buyers appreciate this information, including “debt test”, more so than older households. This is perhaps due to fact that many first-time buyers have to borrow much more for their initial property, due to high prices, and that they have generated more personal debt than their parents’ generation. Whilst personal debt remains a major concern for finance industry, government and public, financial stability remains possible with education.

* * * * * * * * * * * * Resources: http://www.moneynet.co.uk/mortgage-guide/index.shtml http://www.switchwithwhich.co.uk/mortgage/index.html http://www.cml.org.uk/

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