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20k Mortgage is it possible

amjad171
amjad171 Posts: 66 Forumite
Part of the Furniture 10 Posts Combo Breaker
in Mortgages & endowments
Hello,

My friend is looking for a 20k mortgage which he is hoping to pay off fairly quickly. Does anyone know of any mortgage companies out there that will do 20k mortgages on a reasonable interest rate?

thanks

Comments

  • stanmoresaver
    stanmoresaver Posts: 614 Forumite
    One option is to take out a larger flexible loan and then make an immediate capital repayment down to the £20k.

    rate should be no more than BBR +0.5%
    I am a fee charging WoM Mortgage broker.
    I now no longer give information and opinion within the Mortgage boards, because a number of posters who, having approached me professionally, agreed my fee-which has been been made very clear at the outset, taken my advice (normally cancelling a [home visit] meeting at short notice) have then approached one of the fee-free brokers on here to arrange the very same deal I have advised.
    Whilst I totally concur with the ethos of "money saving"- abusing the goodwill of a professional who provides a quality service is taking it too far! :mad:
  • MikeLB
    MikeLB Posts: 352 Forumite
    HBOS were happy to give me a £26K mortgage on very flexible terms with no overpayment penalties. That was 3 years ago.
  • Gem_
    Gem_ Posts: 495 Forumite
    I can confirm Halifax will lend under £25 (I borrowed £12,000 from them a couple of years ago).

    HTH

    G
  • payless
    payless Posts: 6,957 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    I've seen as low as £5000, although yes some lenders are restricting certain deals to above £x amount
    Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.
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