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Recommend ME a mortgage!
Rks0
Posts: 8 Forumite
Hi everyone,
I was hoping for a little bit of help in navigating the current mortgage jungle, as my discounted tracker is due up, literally, in days.
My house is currently worth about £115k, and my outstanding loan is for aprox £60k with 19 years to go, so I understand that my LTV is on the right side.
I earn aprox £42k p.a., so I know that lending multiples aren't an issue either.
What, if anything, would you suggest?
I was hoping for a little bit of help in navigating the current mortgage jungle, as my discounted tracker is due up, literally, in days.
My house is currently worth about £115k, and my outstanding loan is for aprox £60k with 19 years to go, so I understand that my LTV is on the right side.
I earn aprox £42k p.a., so I know that lending multiples aren't an issue either.
What, if anything, would you suggest?
0
Comments
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Well, with those figures, you would have the pick of the market really.
As for recommending anything - no one knows anything about you, so that would be a little difficultI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
To ask this question without knowing your personnel circumstances is like me going to a supermarket and doing your weekly shop for you without a list or knowing what you do or dont like !
Can you afford to reduce the term and or overpay each month to clear your mortgage ASAP as you pay the least amount of interest the quicker you repay the debt.
Do you need the security of a fixed rate deal ?
Are you happy to take a gamble by taking a tracker deal ?
What has your existing lender offered you and what deals do they have
First port of call your existing lender !0 -
I would recommend that you do not go with Virgin (RBS), as they just sent us a letter saying they are not reducing their interest rate.0
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To ask this question without knowing your personnel circumstances is like me going to a supermarket and doing your weekly shop for you without a list or knowing what you do or dont like !
A great analogy ( "dimbo" does not do you justice
)
P.S. In fact he does know his personal circumstances !...............................I have put my clock back....... Kcolc ym0 -
Sorry cant spell
Should have spell check on computer just cant find it !!0 -
What does your mortgage revert to after the tracker ends ?
You may be better off staying on the lenders SVR and overpaying and using any extra savings ( keep an emergency fund !!) to reduce your mortgage balance at savings rates are very poor at the moment.0
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