We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Flexible Mortgage allowing Large Over Payments?
LRS
Posts: 16 Forumite
Dear All
I welcome any advice on our situation. Thanks;
We are about to purchase a new property and will need a mortgage of approximately £200k for a term of 10 years. We are also in the fortunate position of soon realising an inheritance of significant amount in maybe 6 months to a year’s time once the inheritance property is sold.
My question is that we will very likely want to be able to pay off a significant part of the £200k mortgage sometime within the first or second year and would be very interested to know what people would suggest is the best ‘type’ of mortgage for us to take out that provides the maximum flexibility for this type of bulk overpayment?
Many thanks;
I welcome any advice on our situation. Thanks;
We are about to purchase a new property and will need a mortgage of approximately £200k for a term of 10 years. We are also in the fortunate position of soon realising an inheritance of significant amount in maybe 6 months to a year’s time once the inheritance property is sold.
My question is that we will very likely want to be able to pay off a significant part of the £200k mortgage sometime within the first or second year and would be very interested to know what people would suggest is the best ‘type’ of mortgage for us to take out that provides the maximum flexibility for this type of bulk overpayment?
Many thanks;
0
Comments
-
You have answered your own question. You need a flexible mortgage that allows unlimited capital repayments....shouldn't be a problem at all.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.8K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards