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Woolwich turned us down, any advice?

boo80 · 2009-08-03 17:10:49

We're buying a house for 187k, we have a 10k deposit and my parents are very kindly investing 80k in the house (I know how lucky we are!), so we need a mortgage for 97k, which is the figure we were told by the IFA we could get. The IFA recommended a mortgage with the Abbey, but I had a look around and saw one with the…

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geoffky Posts: 6,835 Forumite

4 August 2009 at 12:29PM

boo80 wrote: »

Even though it will cost an extra 3k? I'm really new to this and know NOTHING about mortgages!

You are about to spend 180 thousand pounds and if it was me i would of been doing my home work for the last six months at least..in fact i have been for three years...You need to do some homework...

It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.
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Woolwich turned us down, any advice?

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