Which mortgage deal advice.

Coded

Hi all, hoping I could have some sensible advice from you all.

Looking at moving house, our house is in the process of being sold.

We will have about £44,000 deposit and looking for a house at max £220,000 so 20% deposit.

Our monthly income is £3100 with no debts but paying our car off £200 a month which comes to and end in 18months.


We're going for a fixed deal, currently Post Office at 3.29% which works out at £860 a month fixed for 2 years. The 3 year fixed deal would be 3.69% which is £899 a month. The rate is then BoE + 3.99%.

The other deal im considering is Brtiannia 3.99% but at a higher £928 a month with then their SVR currently 4.24%.

Some more information, we currently pay £770 on our mortgage.

We are also probably going to start a family in the next 2-3 years.

I know opinions will differ but just wondering what you would personally go for.

Thanks in advance.

Coded

No-one?:money:

ACG

Youve made your decision, why do you need other opinions?
I would personally be sticking with the current mortgage and paying £100 a month less.

englandcrew

I love how you gave it 7 minutes for someone to reply before bumping.

Thrugelmir

Follow on SVR is very important to consider.

If you are planning a family. Perhaps a longer term 5 year fix would be better. As guarantees your outgoings.

Base plus 3.99% could result in a fairly high rate in a few years time.

Coded

Thrugelmir wrote: »

Follow on SVR is very important to consider.

If you are planning a family. Perhaps a longer term 5 year fix would be better. As guarantees your outgoings.

Base plus 3.99% could result in a fairly high rate in a few years time.

I don't like tha follow rate for either to be honest, but with the 5-year id probably go straight into another deal - all depending on the deals at that time.

Do people tend to change mortgage deal after their fixed periods over with such follow on rates?

englandcrew wrote: »

I love how you gave it 7 minutes for someone to reply before bumping.

I love how you can't read dates, if you haven't got anything productive to write done reply in the future.

getmore4less

What if you can't change?

house price drops
loss of income
new lending criteria.