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Mortgages Everywhere - But Which One ?
Comments
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Pilchard, You should look at Standard Life. They will ususally accept one years accounts and with 50% deposit they have Fixed rates from 5% and, as well as overpayments (I think 10%), you can set up an Offset facility (where a current/savings account is set off against the mortgage) achieving what you want and even giving greater flexibility.I 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 -
Most lenders will, if you borrow £500K or more go to a special underwriting department. They look a lot harder at your circumstances, income, expenditures, credit record etc.0
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You could check out the Co-Operative Bank's Flexible Tracker mortgage.
I've been using the Co-Op for 4 years and they allow overpayments with no maximum. I stoozed large payments into my overpayment fund for 3 years and they never had any problems with me asking to transfer payments of £40,000 from my current account to reduce the mortgage interest!.Mortgage Feb 2001 - £129,000
Mortgage July 2007 - £0
Original Mortgage Termination Date - Nov 2018
Mortgage Interest saved - £63790.60
ISA Profit since Jan 1st 2015 - 98.2% (updated 1 Dec 2020)0 -
PilchardTheCat wrote:We pride ourselves on being top of the class when it comes to money saving but when looking around for the best mortgage we are snowed under ! Can anyone help point us the right way ? Basically I am 18 months into being self employed so have less than usual accounts BUT have over 50% deposit to put down. We are looking for a mortgage which will not offer any penalties for overpaying UNLIMITED amounts each month - is there such a thing ? 10% is no good - we need the flexibility to be able to pay off more - HELP - we are boing crazy !!!
Hi pilchardthecat, I'm not a mortgage advisor, but am impartial. I tend to use the searches on moneyextra and moneysupermarket.http://www.moneysupermarket.com/link.asp?source=MSE&Section=Mortgages
I did this recently and when I got a few quote I went to my current mortgage provider with quotes in hand. The Coventry Building society; matched the best quote at a fixed rate with no tie ins no ERP's with the oportunity of borrowing more at the same rate in the future.0 -
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
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