mortgage [ repayment ]

shimsham_2

I am looking for a mortgage for my daughter who has a fairly substantial deposit to put down preferably a repayment one can anyone on the forum recommend one
Colin

System

...

If you were going to a mortgage broker, is that all the information you'd give him/her?

shimsham_2

Thanks Joe. She has used brokers before they tend to try benefit themselves as well as the client i know they have to earn a living buy one quote she had entailed 3 extra charges for arrrangement fees totaled over a £1k.

Time2Go_25

shimsham wrote: »

Thanks Joe. She has used brokers before they tend to try benefit themselves as well as the client i know they have to earn a living buy one quote she had entailed 3 extra charges for arrrangement fees totaled over a £1k.

I think you missed Joe's point, how can anyone give you advice with the little information you've provided.

1) How much is the property

2) How big a mortgage

3) What are her earnings

etc

shimsham_2

I did not miss is point , but i am not prepared to divulge earnings on the internet i will try and be a bit more explicit.
Looking for one with a capped rate for 5 years.
Whats the interest rate over base.
Any penalties for moving the mortgage within a pacific time.
Is the mortgage portable.
What are the arrangement fees.
Whos the best high street lender at the moment.
I am not looking for figures just the overall package

Robert_Sterling_3

shimsham wrote: »

Thanks Joe. She has used brokers before they tend to try benefit themselves as well as the client.

I can't fault that. I am not one myself.

cranezoe

I think you'll need to give more infor to get anywhere here. LTV is a big factor in the mortgage that you can get. so, ok you dont want to divulge earnings but how much is the house she is buying - £100k, £450k? and what do you mean by sizeable deposit - 30% 60% ? see it makes a difference and people cant help you much if you dont give that kind of info.

getmore4less

shimsham wrote: »

I did not miss is point , but i am not prepared to divulge earnings on the internet i will try and be a bit more explicit.
Looking for one with a capped rate for 5 years.
Whats the interest rate over base.
Any penalties for moving the mortgage within a pacific time.
Is the mortgage portable.
What are the arrangement fees.
Whos the best high street lender at the moment.
I am not looking for figures just the overall package

If you are not prepared to give the basic details you are better of using the mortgage comparison sites.

basics like LTV and earning multiples are needed.

Why not divulge stuff no one should knows who you are if you are using the interenet properly.

Robert_Sterling_3

It is a bit like asking us what car you should buy?

or

What school should my children go to?

or

Who should I marry?

The difficult we answer immediately.
The impossible takes a little longer.

Have a nice day.

shimsham_2

Looking at a house at £120k with a deposit of £35k and she earns a moderate salary as she is a teacher at college

getmore4less

I thought teachers salaries like a lot of others like nurses were public record. moderate is meaningless.


Anyway,

£120k with £35k deposit £85k loan is 70%LTV so room for some fees and still be below 75%.

Salary over £28k(3x) no debt history and should be no problem getting a good deal. under £22k(4x) will be a bit tighter


Why are you looking for the loan she should be doing this herself.