Help [Remortgaging]

alipops1986 · 9 February 2010 at 12:45PM

Hey guyz,

I am hoping you will be able to help/advise me.

I bought my home 7/8mnths ago for a very good price, without a mortgage [84k]. I earn approx 23.5k a year.

However, because my parents helped me to purchase the house i am now looking to get a mortgage in order to help me pay them back.

I have at least 10% equity in the house, which leaves me needing a 90% LTV mortgage.

Is there any hope?!

_Andy_ · 9 February 2010 at 12:53PM

Yes assuming no adverse credit etc.

Niv · 9 February 2010 at 12:58PM

Slightly off topic but do your parents want all the money in one hit? All I am thinking is you could give them say £500p/m or whatever you can afford/agree. This way you have the effect of having a mortgage but not the interest rate and your parents still get their money back. With interest rates so low they are not missing out on mega savings rates (unless ofc they need it for something).

Just a thought.

alipops1986 · 9 February 2010 at 12:59PM

Credit wize i should be absoloutely fine!

herbiesjp · 9 February 2010 at 1:12PM

You can find deals, however the rates will not be the most competitive, based on going up to 90% LTV.

But they enable you to do what you want.

Help [Remortgaging]

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