Is it a good offer?

EU134

Hello

We 're going to take mortgage on a house. We're fist time buyers and this is what mortgage adviser offered us:
our money: 32k
house price: 160k
rate:3.3%
length: 30 years
monthly rate: 560 in total after all added (except insurance)
Is it a good offer?
I was checking on web and some of them were as low as 500 (initial) at 2.8%

how does it look in fact? is the offer we got a good offer?

Sorry if my question looks silly but I am mortgage noob
Thanks for all answers in advance

fiffio99

Can you easily afford the repayments? if so then you'll save alot more in the long term by taking it over 25 years.

Also check the follow on rate, you dont say if this is a fixed or for how long.

amnblog

There is more to this than the rate.

Your circumstances may mean that one lender is preferable to another, or that some lenders will not consider your case.

EU134

Hi again and thanks for your answer
It will be fixed 2yrs repayment

EU134

fiffio99 wrote: »

Can you easily afford the repayments? if so then you'll save alot more in the long term by taking it over 25 years.

Also check the follow on rate, you dont say if this is a fixed or for how long.

It's not that I can easly afford it now, but in 2 years my circumstances may/will change. Our rent is higher now and we cope, but I don't think we can do any better than that now, as my wife is still part time due to little one at home. I want to re-build our emergency fund to at least 4k and then save every penny to do early re-payments and also then when we see we're fine we'll shorten it to 25years

EU134

for example from this list which one is better? I mean there are 3 cells with % - but I've no idea how it wirks
money.co.uk/mortgages/85-mortgages.htm

EU134

up up up ;-)