The credit crunch has hit the real estate markets in most countries, but waiting for prices to hit bottom before you invest is the wrong tactic. This is because as soon as prices start to turn and the media say “the market has hit bottom and starting to go up”, then every investor will be wanting a piece of the action and prices rise, vendors will not give you a discount. The savvy investors got in earlier!

Just think about it, if you knew you could buy below market value properties at a price with a certainty that you are locked in for the gains when the market turns, wouldn’t you want a piece of the action? The key decision to make is all about timing, that is when is the right time to start buying?

Some have started to say that 2009 could well be the time to start investing, this is when vendors are disillusioned with all the negativity and falling prices, they will sell at even greater discounts of 20% or more on the current valuations. This is very likely to be at a lower price than when the market hits bottom, so this is when the savvy investors start buying.

But, how do these savvy investors find these deals at 20% below market value properties? The answer is simple, seek out the specialist agents who source properties (BMV properties) where the vendor is selling at a huge discount. Within the UK one such agent is Simple2buy.co.uk, they email clients with deals as soon as they come in. The savvy investors are now building their portfolios, what type of investor are you?

People are always looking for the best deal when applying for a remortgage but what a lot of people do is search for a mortgage provider who will offer the lowest rate. This can be a false economy, as often when you make the application the lender has added extra charges, to be paid either up front or on completion.

The fees that are payable on completion can often be added to the mortgage. This trick makes the consumer think they are getting a good deal but they are not as they have paid for the low rate in other fee’s.

What can be a better option, is to look for a fee free remortgage
deal. This is were the lender charges you a higher rate of interest which may make it look expensive, but will either not charge you administration and application fees. Or the lender will pay for your valuation fee; some times you can get your legal fees paid.

Not all lenders provide fee free remortgage deals, if this is something you would be interested in and would like mortgage advice, it would be best to contact a local mortgage advisor. A mortgage advisor will be able to source all of the mortgage market for you with specialist software.

Which ever route you go when you need to remortgage, getting professional advice is always a good idea.