We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 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!
Mortgage help for someone with no clue (best mortgage??)
Options
Mandles
Posts: 4,121 Forumite
Can you help me for a pal as i have no clue and i said i would check if there was a better mortgage that anyone could recommend please. Any mortgage advisors?
Right she has been offered a 5.14 fixed mortgage for 2 years.The house is worth £145k and the mortgage is for £118k. There is no valuation fee charge and £999 for setting it up fee. So she is paying £505 a month.
It is important to have a fasttrack (?) so her earnings are not seen(nothing dodgy i promise).
This is with Halifax.
Any one know if this is good or anyone recommend a better one?
Right she has been offered a 5.14 fixed mortgage for 2 years.The house is worth £145k and the mortgage is for £118k. There is no valuation fee charge and £999 for setting it up fee. So she is paying £505 a month.
It is important to have a fasttrack (?) so her earnings are not seen(nothing dodgy i promise).
This is with Halifax.
Any one know if this is good or anyone recommend a better one?
0
Comments
-
well i secured a mrtgage deal yesterday and its better then mine.
5.34 fixed two years borrowing 122,000
house value 1520000 -
well the deal of 5.14 is equiv to roughly 5.7 without any arrangement fees.
It seems to be on Interest Only so term has no bearing but to be fair - without knowing full circumstances, I am not sure whether its good or bad. Is she paying fees up front or adding - if adding, I would be looking for a 5.7 fees free deal to try and save myself borrowing an extra 1k.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 -
Can you help me for a pal as i have no clue and i said i would check if there was a better mortgage that anyone could recommend please. Any mortgage advisors?
Right she has been offered a 5.14 fixed mortgage for 2 years.The house is worth £145k and the mortgage is for £118k. There is no valuation fee charge and £999 for setting it up fee. So she is paying £505 a month.
It is important to have a fasttrack (?) so her earnings are not seen(nothing dodgy i promise).
This is with Halifax.
Any one know if this is good or anyone recommend a better one?
Mortgages over £58,000 are interest rate sensitive. This means that the higher the loan amount the more is saved by getting the cheapest rate.
You need to find the cheapest rates to suit your friends circumstances, without a large arrangement fee.
See a good whole of market mortgage broker who should conduct these comparisons for you.
JoeKI am an Independent Financial Adviser.Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350.9K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.9K Work, Benefits & Business
- 598.8K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards