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Remortgage with Redstone
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tracyab14
Posts: 4 Newbie
Hi Everyone,
This is my first post on this site and would be grateful for any advice. I have never had a mortgage before and in June 2007 unfortunately my dad died and his house was left to myself and my brother. I was living in a rented housing association flat and decided that I wanted to buy my brother out. I went to a broker, Infinite Mortgages, who I have to say were great. My brother offered me his half share of the house for £50,000. I was offered a re-mortgage from Redstone and I took out the £50,000 plus and extra grand or so for legal costs. This has only just completed on the 10th of December with my brother gettting his money and myself owning the property. The mortgage is on an interest only basis and my monthly payments are £228.75 (just now, obviously this will change according to the interest rate). I have been told by Infinite that I will be able to get a mortgage with a high street lender after this.
After reading some threads on here about Redstone, I have to say I am a bit worried. There is no problem with me paying my mortgage and I am very confident that my payment history will be good by the end of the 2 years. My question is before the 2 years are up, when should I start looking for another remortgage with a high street lender and should I go to a Financial Advisor this time instead of a Broker. I would be grateful for any advise.
Kind regards
Tracy
This is my first post on this site and would be grateful for any advice. I have never had a mortgage before and in June 2007 unfortunately my dad died and his house was left to myself and my brother. I was living in a rented housing association flat and decided that I wanted to buy my brother out. I went to a broker, Infinite Mortgages, who I have to say were great. My brother offered me his half share of the house for £50,000. I was offered a re-mortgage from Redstone and I took out the £50,000 plus and extra grand or so for legal costs. This has only just completed on the 10th of December with my brother gettting his money and myself owning the property. The mortgage is on an interest only basis and my monthly payments are £228.75 (just now, obviously this will change according to the interest rate). I have been told by Infinite that I will be able to get a mortgage with a high street lender after this.
After reading some threads on here about Redstone, I have to say I am a bit worried. There is no problem with me paying my mortgage and I am very confident that my payment history will be good by the end of the 2 years. My question is before the 2 years are up, when should I start looking for another remortgage with a high street lender and should I go to a Financial Advisor this time instead of a Broker. I would be grateful for any advise.
Kind regards
Tracy
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