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Best First Time Mortgage ?
mpartrid
Posts: 32 Forumite
Hello
My sister is looking for a first time mortgage (approx 90%) for about 100,000, ideally something with low set up costs and possibly a fixed rate for the first couple of years. I am trying to search through the options for her but there are so many to chose from !
Any advice greatfully recieved.
My sister is looking for a first time mortgage (approx 90%) for about 100,000, ideally something with low set up costs and possibly a fixed rate for the first couple of years. I am trying to search through the options for her but there are so many to chose from !
Any advice greatfully recieved.
0
Comments
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WHat kind of income is she on?
Does she have any other debts?I 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 -
income is approx 22K per annum, no debts and a few savings plus help from mom and dad to cover the deposit.0
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She is looking at just over 4 times her income.
SHe will find lenders that will offer her some good deals at 90% loan
However she will need to be comfortable with what they would mean to her in terms of monthly payments.
Have a word with a whole of market mortgage adviser to let them help your sister work out what exactly would be affordable to her in her scenario
HTHI 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 -
I agree, seeing a whole of market broker is her best bet. what area of the country does your sis live in? perhaps one of the advisors off the board can help herI am a Mortgage Adviser
You 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
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