Would like some advice about mortgages

MrsPickles

Hello,

New here and would like some mortgage advice. Me and my husband are in our mid to late 30s with 2 kids and have been renting for ages in London. We are now thinking about buying as sick of spending so much money renting to pay someone else's mortgage and we want a place of our own.

Wre have managed to save approx £200k over the years. However, this doesn't buy you very much in London (but we need to stay here for personal reasons). To buy a reasonable property where we want to live we are looking at £250-£300k. What kind of mortgage would be most suitable for us if we need to borrow anywhere from £50k to £100k?

Thanks.

getmore4less

Just about anything would do assuming income is OK(>£25k joint) LTV is fine.

If your savings will still grow you could look at an offset to give liquidity.

Whats your
current rent
savings rate
income
kids ages(what expences coming up)


You also want to think about retirement planning and how this debt would fit in with that, might give an idea of what term you should look at.