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5% Deposite

Loui1979
Loui1979 Posts: 138 Forumite
in House buying, renting & selling
Ok We were going to go with Northern Rock on a 100% Mortgage but yesterday we had a meeting with someone form Lloyds thats contracted with Cheltham & Gloucester and he could give us what seems like a really good deal only thing is that we need £4000 deposite, that we have sorted out now. Anyway the deal we can do is pay intrest only for 3 years that works out like 250 month then in 3 years go to repayment (470 month) for 22 years.

Just wondering what you think of this?

Thanks

PS Thanks for everyone thats been giving me advise and sorry if i didnt 'THANK' everyone yesterday but i have gone back into the posts and thanked everyone today!

Comments

  • frugglewump
    frugglewump Posts: 680 Forumite
    500 Posts
    That's exactly the same offer that I have just taken up with HSBC, although since my account is with them & I graduated less than 5 years ago they let us have a 100% offer. It's at 5.5% variable.

    We took it because my pay including increases is predictable for the next 3 years and we're sure that the switch to capital repayment is possible. Also they will let us ovrepay with no penalties
    Still wish I could buy a TARDIS instead of a house!
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