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At one point, people want to purchase a house and before looking into properties and finding the right one, it is a good idea to know how much money you can borrow. There are different types of mortgages, many lenders offer the possibility of getting one and the process differs as well. How do you know exactly where to look? In general, mortgages run for 25 years, but borrowers can shorten or lengthen the period. Being able to pay the interest rates and the repayments is essential, not to mention that it costs to maintain a house, since you also have to pay the bills and taxes, insurance and such. Lenders require income proof, check if you have any debts and make sure you are capable of supporting the costs. Since it is such a complex process and so many aspects are involved, it helps to rely on a broker that offers valuable mortgage advice Newcastle.

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