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Mortgages!!!
cazaline
Posts: 87 Forumite
Hi there,
I am newon here so please be nice:eek:
I am looking to get a mortgage for a house worth £220000 and have £120000 to put down as deposit, first time buyer and very good credit history but i am totally baffled by all the mortgages available!!!! Ideally would like a fixed rate for 5 years and to pay it off over 10-15 years...any help or reccomendations appreciated and thanks in advancexx
I am newon here so please be nice:eek:
I am looking to get a mortgage for a house worth £220000 and have £120000 to put down as deposit, first time buyer and very good credit history but i am totally baffled by all the mortgages available!!!! Ideally would like a fixed rate for 5 years and to pay it off over 10-15 years...any help or reccomendations appreciated and thanks in advancexx
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Comments
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providing your income is suficient to service the loan there are plenty of companies to go at, although many fixed rate deals will not allow significant, if any, overpayments.
a £100K five year fix over 15 years will cost you in the region of £800 per month over 15 years, £1100 over 10I 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 definatley sufficent and happy to pay about 800-900 per month over 10- 15 years but have got very confused with all the different rates and which is actually the best deal as things ike arrangement fees, valuation costs seem to crop up and they all add money on. The Brittania are doing a good deal for fixed rate for 5 or 10 years at the mo i think but anyone else got a better deal?0
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cazaline wrote:Income definatley sufficent and happy to pay about 800-900 per month over 10- 15 years but have got very confused with all the different rates and which is actually the best deal as things ike arrangement fees, valuation costs seem to crop up and they all add money on. The Brittania are doing a good deal for fixed rate for 5 or 10 years at the mo i think but anyone else got a better deal?
there are much better rates than britannia
also look at Portman, Woolwich, Derbyshire, Yorkshire, Newcastle, C&G and there will be othersI 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 -
And dont ignore the broker only deals that whole of market mortgage advisers will have available. Although you wont know about those until you see one.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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It sounds like you know exactly what you are looking for.
If you are happy to DIY then great, have a look at Martin's guides they can help.
Otherwise have a word with a fee free whole of market adviser and let them come up with some options for you.
You say income is sufficient, but remember that if you have children or other debts in the background it can affect the amount you can borrow
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
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