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Mortgage of £25k advice PLEASE

ed2712
ed2712 Posts: 211 Forumite
in Mortgages & endowments
Were moving house and only need a mortgage of £25,000 over 20 years, I would be really grateful if you could give me advice on the best lender etc., any useful advice would be great.

thanks.

Comments

  • JoeK_3
    JoeK_3 Posts: 1,374 Forumite
    Not many lenders will lend such a small amount.

    Try the Woolwich

    Joek
    I 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.
  • Melissa177
    Melissa177 Posts: 1,727 Forumite
    You might be better off loaning that amount of money over a shorter time period? ie, five years?
    Errors of opinion may be tolerated where reason is left free to combat it. - Jefferson
  • nrsql
    nrsql Posts: 1,928 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Maybe an offset with most of the money offset? 10 year fixed @5.69% from first direct?
  • JoeK_3
    JoeK_3 Posts: 1,374 Forumite
    nrsql wrote: »
    Maybe an offset with most of the money offset? 10 year fixed @5.69% from first direct?

    The OP doesn’t have any savings to offset!!!

    JoeK
    I 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.
  • runmartin
    runmartin Posts: 32 Forumite
    Part of the Furniture Combo Breaker Mortgage-free Glee!
    ed2712 wrote: »
    Were moving house and only need a mortgage of £25,000 over 20 years, I would be really grateful if you could give me advice on the best lender etc., any useful advice would be great.

    thanks.

    I was in a similar position to you 2 years ago. I got a mortgage with the Woolwich but I also considered other lenders with mortgages with no limit on how much you can overpay. You can therefore get a mortgage for say £35000 and pay back £10000 in the first week. Just need a excuse for the extra £10000 (new kitchen etc). Note this is assuming that the property is worth more than £25K.

    I hope this is useful

    Martin
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