Buying a Property

Is a mortgage right for you? Buying a property is a major decision and a long-term commitment.

Does it fit in with your future financial goals? Can you really afford a mortgage? It is important to assess your finances and work out what you can afford to pay each month. Many banks will have online mortgage calculators that will give you an idea of how much you can borrow and what the monthly repayment will to be. Don’t overstretch yourself. Not owning a property is better than getting repossessed when you can’t keep up with the repayments.

There many expenses associated with buying a property such as legal fees and stamp duty. Remember to factor these in.

If you decide that buying a property is the right decision for you, information and tips are available on most bank websites.

Mortgages

A mortgage is a loan secured on your property. What type of mortgage should you choose? Do you know your fixed interest rate from your flexible interest rate?

Choosing a suitable and affordable mortgage for you will not only save you money but will help you to manage your finances and avoid unnecessary risks. It is important to understand the pros and cons of each type of mortgage.

Further resources can be found by searching local bank websites and check comparator websites.

Disclaimer: The information is brought to you by Aon Hewitt Consulting (Shanghai) Co. Ltd. registration number 310000400102466. The information does not take into account the specific investment objectives, financial situation or particular needs of any particular person who may be in receipt of the materials. Accordingly, it should not be relied on or treated as a substitute for specific advice concerning individual situations. Please seek advice from a financial adviser regarding the suitability of any investment product taking into account your specific investment objectives, financial situation or particular needs before you make a commitment to purchase an investment product. You are also recommended to obtain such other professional advice where appropriate. The information is provided in good faith and believed to be accurate as of the time of compilation. We do not undertake an obligation to update the materials or to correct any inaccuracy that may become apparent at a later time. You should always consult primary or more accurate or more up-to-date sources of information.