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!

First time buyer mortgage rate

2

Comments

  • AliceBanned
    AliceBanned Posts: 3,209 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Thanks, I agree better to be solvent and this was my plan. Then I saw a flat I really liked..sooner than expected.. in the right area. :(. Not only that but would save me some money on travel, make my journey 1/2 what it is now to work etc etc. Sometimes more to be weighed up by I am a DFW..just slow hard progress.
  • AliceBanned
    AliceBanned Posts: 3,209 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    kingstreet wrote: »
    It's not the FTB bit which determines what's a good rate. It's the quality of the application data, deposit, multiple of income etc.

    If you're being offered 7%, 4.99% looks great.

    If you don't qualify for 4.99% though, it's a moot point.

    OK thanks. It's my current and remnants of my past financial situation that is damaging my credit rating, causing this..I could wait and save, could pay off debts instead of save but I am 45 and I know it will get to a point where I'm too old for the mortgage term..trying to weigh everything up..:)
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    AliceBanned wrote: »
    Sometimes more to be weighed up by I am a DFW..just slow hard progress.

    The rewards will be well worth it. You don't want to end up at square one again. So take a long term view and stick to your plan.
  • AliceBanned
    AliceBanned Posts: 3,209 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Thrugelmir wrote: »
    The rewards will be well worth it. You don't want to end up at square one again. So take a long term view and stick to your plan.

    Well..I know it makes sense..:A

    But am undecided..:(
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    AliceBanned wrote: »
    Well..I know it makes sense..:A

    But am undecided..:(

    Lenders are far tougher. Easy days of obtaining credit are over.
  • AliceBanned
    AliceBanned Posts: 3,209 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Yep. You're telling me!:D
  • lee111s
    lee111s Posts: 2,987 Forumite
    Eighth Anniversary 1,000 Posts Combo Breaker
    I just got 3.79% fixed for 2 years with Yorkshire building society on a 90% LTV. Payments are £494 per month on a £105000 mortgage.
  • kingstreet
    kingstreet Posts: 39,509 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    lee111s wrote: »
    I just got 3.79% fixed for 2 years with Yorkshire building society on a 90% LTV. Payments are £494 per month on a £105000 mortgage.
    Is that a product for shared ownership purchases?
    I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.
  • AliceBanned
    AliceBanned Posts: 3,209 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    lee111s wrote: »
    I just got 3.79% fixed for 2 years with Yorkshire building society on a 90% LTV. Payments are £494 per month on a £105000 mortgage.

    That's pretty good.
  • lee111s
    lee111s Posts: 2,987 Forumite
    Eighth Anniversary 1,000 Posts Combo Breaker
    kingstreet wrote: »
    Is that a product for shared ownership purchases?

    Nope, sole owner and first time buyer. 12 grand deposit.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 355.6K Banking & Borrowing
  • 254.8K Reduce Debt & Boost Income
  • 456.1K Spending & Discounts
  • 248.2K Work, Benefits & Business
  • 605.7K Mortgages, Homes & Bills
  • 179K Life & Family
  • 263.5K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture