First time buyer Help!

adiwood

Have been looking around at mortgages and have liked the HSBC one shown below. Im currently banking with them, have just graduated from University, and so will be getting a graduate account and am on 18k a year. What do people think of the mortgage below?

HSBC Graduate Mortgage with Homestart.

Borrrow amount - £90'000

No Fees - (Valuation, solicitors etc)

No Deposit

36 Monthly repayments at fixed rate 5.99% until July 2009 represeting interest only - Monthly repayments of £449.66

1 Monthly repayment at a fixed rate of 5.99% until 31 August 2009 representing interest and capital - Monthly replayment of £561.37

322 Monthly repayments at Variable rate - currently at 5.75% representing interest and capital repayments - Monthly Payments of £548.40

The above payments includes payment protection. (£35 a month)

nbbradshaw

It maybe worth visiting the NBS website dedicated to 1st time buyers

http://online.newcastle.co.uk/FTB/Ho...Micro_Site.htm

adiwood

nbbradshaw wrote:

It maybe worth visiting the NBS website dedicated to 1st time buyers

http://online.newcastle.co.uk/FTB/Ho...Micro_Site.htm

I dont think that looks as good.... or is it just me?

Initial rate 5.75% fixed until 30 June 2011.
Changing to our variable rate, which is currently 6.52% from 1 July 2011 and remaining on variable rate terms for the remainder of the Mortgage term.

The overall cost for comparison is 6.5% APR.