Its time to look differently at mortgages.
Mortgages have a price just like any other commodity.
Suppose you buy a house for €350,000. You out bid your rivals, wondering at every turn should you bid a bit more and finally your offer is accepted and you go sale agreed.
Next you need to arrange the money to pay for the property.
If its a 90% mortgage you will be are borrowing €315,000 and typically paying it back over 30 years.
The price you will pay for this money is the interest rate on your loan .We often think of it in terms of x% compared to y% , but why not think about it in terms of actual cost in euros - the same way you think of everything else you buy!
Looking at this way, on a €315,000 90% mortgage, we can save you over €50,000 in interest payments.